Pacer Advisors Inc. Purchases New Shares in The Lovesac Company (NASDAQ:LOVE)

Key Points

• Pacer Advisors Inc. invested approximately $2.39 million to acquire 131,457 shares of The Lovesac Company (NASDAQ:LOVE), representing about 0.89% ownership in the company.
• Lovesac reported a 4.4% year-over-year revenue increase for the last quarter, totaling $138.37 million, with a narrower loss of ($0.73) earnings per share beating analysts' expectations.
• Several institutional investors, including Senvest Management and AWM Investment Company, have increased their stakes in Lovesac, indicating strong institutional interest, which now represents 91.32% of the stock ownership.

Pacer Advisors Inc. bought a new position in The Lovesac Company (NASDAQ:LOVE - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 131,457 shares of the company's stock, valued at approximately $2,390,000. Pacer Advisors Inc. owned approximately 0.89% of Lovesac at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in shares of Lovesac in the 4th quarter worth approximately $26,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Lovesac in the 4th quarter worth approximately $49,000. MetLife Investment Management LLC lifted its position in shares of Lovesac by 18.3% in the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company's stock worth $218,000 after purchasing an additional 1,425 shares during the period. GAMMA Investing LLC lifted its position in shares of Lovesac by 12,234.3% in the 1st quarter. GAMMA Investing LLC now owns 12,581 shares of the company's stock worth $229,000 after purchasing an additional 12,479 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Lovesac by 24.8% in the 4th quarter. Wells Fargo & Company MN now owns 9,823 shares of the company's stock worth $232,000 after purchasing an additional 1,950 shares during the period. 91.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. DA Davidson lowered their price target on shares of Lovesac from $35.00 to $24.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Wall Street Zen raised shares of Lovesac from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Roth Mkm increased their target price on shares of Lovesac from $22.00 to $28.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Canaccord Genuity Group decreased their target price on shares of Lovesac from $45.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Oppenheimer reissued an "outperform" rating and set a $35.00 target price on shares of Lovesac in a research report on Friday, April 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.40.

Lovesac Trading Down 3.2%

Shares of NASDAQ LOVE traded down $0.58 during midday trading on Friday, reaching $17.43. The company had a trading volume of 326,245 shares, compared to its average volume of 198,915. The business's 50-day simple moving average is $18.78 and its 200 day simple moving average is $19.81. The stock has a market cap of $253.61 million, a P/E ratio of 24.90, a P/E/G ratio of 0.57 and a beta of 2.20. The Lovesac Company has a 1 year low of $12.12 and a 1 year high of $39.49.

Lovesac (NASDAQ:LOVE - Get Free Report) last released its quarterly earnings data on Thursday, June 12th. The company reported ($0.73) earnings per share for the quarter, topping analysts' consensus estimates of ($0.81) by $0.08. The firm had revenue of $138.37 million for the quarter, compared to analyst estimates of $137.20 million. Lovesac had a net margin of 1.99% and a return on equity of 6.70%. The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.83) earnings per share. Analysts predict that The Lovesac Company will post 0.39 earnings per share for the current year.

Insider Buying and Selling at Lovesac

In other Lovesac news, Director Walter Field Mclallen acquired 1,950 shares of the business's stock in a transaction dated Friday, June 20th. The shares were purchased at an average price of $18.08 per share, for a total transaction of $35,256.00. Following the completion of the purchase, the director directly owned 40,000 shares of the company's stock, valued at $723,200. The trade was a 5.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.33% of the stock is owned by insiders.

Lovesac Company Profile

The Lovesac Company designs, manufactures, and sells furniture. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and other products comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans. The company markets its products primarily through www.lovesac.com website, as well as showrooms at top tier malls, lifestyle centers, mobile concierges, kiosks, and street locations in 41 states in the United States; and in store pop-up- shops and shop-in-shops, and barter inventory transactions.