Squarepoint Ops LLC increased its stake in The Lovesac Company (NASDAQ:LOVE - Free Report) by 316.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,829 shares of the company's stock after buying an additional 88,753 shares during the quarter. Squarepoint Ops LLC owned approximately 0.76% of Lovesac worth $2,764,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in LOVE. Two Sigma Advisers LP bought a new stake in shares of Lovesac in the 4th quarter valued at about $265,000. Two Sigma Investments LP raised its stake in Lovesac by 181.7% in the fourth quarter. Two Sigma Investments LP now owns 86,640 shares of the company's stock valued at $2,050,000 after buying an additional 55,881 shares during the period. Point72 Asset Management L.P. bought a new stake in Lovesac in the fourth quarter valued at approximately $313,000. Man Group plc acquired a new stake in shares of Lovesac in the fourth quarter valued at approximately $327,000. Finally, Millennium Management LLC increased its holdings in shares of Lovesac by 16.4% in the fourth quarter. Millennium Management LLC now owns 67,967 shares of the company's stock valued at $1,608,000 after purchasing an additional 9,553 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently commented on LOVE shares. Canaccord Genuity Group decreased their price target on shares of Lovesac from $45.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Oppenheimer reissued an "outperform" rating and set a $35.00 price target on shares of Lovesac in a report on Friday, April 11th. Roth Mkm boosted their price target on Lovesac from $22.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, DA Davidson decreased their price objective on Lovesac from $35.00 to $24.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $31.67.
Read Our Latest Report on LOVE
Lovesac Price Performance
Shares of LOVE stock traded down $0.15 on Friday, hitting $19.26. 350,406 shares of the company's stock were exchanged, compared to its average volume of 379,678. The company has a 50 day moving average of $18.88 and a 200 day moving average of $23.21. The stock has a market cap of $285.91 million, a P/E ratio of 56.65, a price-to-earnings-growth ratio of 0.65 and a beta of 2.48. The Lovesac Company has a 12 month low of $12.12 and a 12 month high of $39.49.
Lovesac (NASDAQ:LOVE - Get Free Report) last posted its earnings results on Thursday, April 10th. The company reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $1.80 by $0.33. The firm had revenue of $241.50 million during the quarter, compared to analysts' expectations of $230.33 million. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The business's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.87 earnings per share. Sell-side analysts predict that The Lovesac Company will post 0.39 EPS for the current fiscal year.
Lovesac Profile
(
Free Report)
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.
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