SG Americas Securities LLC Grows Position in The Lovesac Company (NASDAQ:LOVE)

SG Americas Securities LLC lifted its holdings in shares of The Lovesac Company (NASDAQ:LOVE - Free Report) by 1,165.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 304,586 shares of the company's stock after purchasing an additional 280,522 shares during the period. SG Americas Securities LLC owned about 1.97% of Lovesac worth $5,537,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in LOVE. Voya Investment Management LLC purchased a new stake in Lovesac during the fourth quarter valued at about $7,354,000. AWM Investment Company Inc. boosted its holdings in Lovesac by 33.2% during the 4th quarter. AWM Investment Company Inc. now owns 681,741 shares of the company's stock valued at $16,130,000 after acquiring an additional 170,045 shares during the period. Senvest Management LLC boosted its holdings in Lovesac by 17.4% during the 4th quarter. Senvest Management LLC now owns 1,106,767 shares of the company's stock valued at $26,186,000 after acquiring an additional 163,745 shares during the period. Penn Capital Management Company LLC purchased a new stake in Lovesac during the 4th quarter valued at about $3,722,000. Finally, New York State Common Retirement Fund boosted its holdings in Lovesac by 1,976.1% during the 4th quarter. New York State Common Retirement Fund now owns 118,795 shares of the company's stock valued at $2,811,000 after acquiring an additional 113,073 shares during the period. Hedge funds and other institutional investors own 91.32% of the company's stock.

Lovesac Trading Up 4.7%

NASDAQ LOVE traded up $0.79 on Monday, hitting $17.44. The company's stock had a trading volume of 436,661 shares, compared to its average volume of 384,790. The company's 50-day simple moving average is $19.50 and its 200 day simple moving average is $21.98. The Lovesac Company has a 52-week low of $12.12 and a 52-week high of $39.49. The firm has a market cap of $258.90 million, a P/E ratio of 51.29, a PEG ratio of 0.65 and a beta of 2.30.

Lovesac (NASDAQ:LOVE - Get Free Report) last announced its quarterly earnings results on Thursday, June 12th. The company reported ($0.73) EPS for the quarter, topping analysts' consensus estimates of ($0.81) by $0.08. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The company had revenue of $138.37 million during the quarter, compared to analyst estimates of $137.20 million. During the same quarter last year, the firm posted ($0.83) earnings per share. The firm's revenue was up 4.4% on a year-over-year basis. On average, research analysts forecast that The Lovesac Company will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LOVE has been the subject of a number of analyst reports. Roth Mkm increased their price objective on Lovesac from $22.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Canaccord Genuity Group dropped their price target 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. DA Davidson dropped 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. Finally, Oppenheimer reissued an "outperform" rating and set a $35.00 price target on shares of Lovesac in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $31.67.

Lovesac 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.