Skylands Capital LLC Buys 101,447 Shares of The Lovesac Company $LOVE

Key Points

• Skylands Capital LLC increased its stake in The Lovesac Company by 53.4% in Q4, buying 101,447 shares to hold 291,397 shares (about 1.99% of the company) valued at roughly $4.30 million.
• CEO Shawn David Nelson bought 1,477 shares at $16.95, raising his holdings to 202,681 shares; insiders collectively own 12.46% of the company.
• Analyst coverage is mixed but leans positive — four Buys and one Sell with a consensus "Moderate Buy" and a $22.67 price target — and the company recently beat quarterly EPS ($2.19 vs. $2.00) and revenue estimates.

Skylands Capital LLC increased its stake in shares of The Lovesac Company (NASDAQ:LOVE - Free Report) by 53.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 291,397 shares of the company's stock after purchasing an additional 101,447 shares during the quarter. Skylands Capital LLC owned 1.99% of Lovesac worth $4,298,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its position in Lovesac by 130.4% during the second quarter. BNP Paribas Financial Markets now owns 1,938 shares of the company's stock valued at $35,000 after acquiring an additional 1,097 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Lovesac by 147.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 5,357 shares of the company's stock worth $91,000 after acquiring an additional 3,196 shares during the last quarter. Ancora Advisors LLC purchased a new position in shares of Lovesac during the 3rd quarter worth about $146,000. PFG Investments LLC purchased a new position in shares of Lovesac during the 4th quarter worth about $156,000. Finally, Numerai GP LLC grew its holdings in Lovesac by 10.7% during the 3rd quarter. Numerai GP LLC now owns 11,805 shares of the company's stock valued at $200,000 after purchasing an additional 1,145 shares during the last quarter. 91.32% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Shawn David Nelson purchased 1,477 shares of the stock in a transaction that occurred on Thursday, April 16th. The stock was purchased at an average price of $16.95 per share, for a total transaction of $25,035.15. Following the completion of the acquisition, the chief executive officer owned 202,681 shares of the company's stock, valued at approximately $3,435,442.95. This trade represents a 0.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 12.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LOVE shares. Roth Mkm reissued a "buy" rating on shares of Lovesac in a research note on Friday, March 27th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Lovesac in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded Lovesac from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.67.

Lovesac Price Performance

LOVE stock opened at $16.06 on Tuesday. The Lovesac Company has a 12 month low of $10.33 and a 12 month high of $21.90. The firm's 50-day moving average is $13.65 and its 200 day moving average is $13.92. The company has a market capitalization of $237.37 million, a PE ratio of 55.38, a P/E/G ratio of 0.78 and a beta of 2.21.

Lovesac (NASDAQ:LOVE - Get Free Report) last released its quarterly earnings data on Thursday, March 26th. The company reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.19. The company had revenue of $248.05 million during the quarter, compared to analysts' expectations of $242.77 million. Lovesac had a net margin of 0.58% and a return on equity of 2.02%. The firm's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.13 EPS. Sell-side analysts forecast that The Lovesac Company will post 0.59 EPS for the current fiscal year.

Lovesac Company Profile

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.

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