Bank of America Corp DE trimmed its stake in shares of The Lovesac Company (NASDAQ:LOVE - Free Report) by 40.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,240 shares of the company's stock after selling 21,174 shares during the period. Bank of America Corp DE owned 0.20% of Lovesac worth $739,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. AlphaQuest LLC acquired a new position in Lovesac in the 4th quarter valued at $70,000. MetLife Investment Management LLC grew its holdings in shares of Lovesac by 18.3% during the fourth quarter. MetLife Investment Management LLC now owns 9,233 shares of the company's stock worth $218,000 after buying an additional 1,425 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Lovesac by 24.8% in the fourth quarter. Wells Fargo & Company MN now owns 9,823 shares of the company's stock valued at $232,000 after buying an additional 1,950 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Lovesac by 13.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,462 shares of the company's stock worth $272,000 after acquiring an additional 1,333 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in Lovesac in the 4th quarter valued at about $321,000. Institutional investors and hedge funds own 91.32% of the company's stock.
Wall Street Analysts Forecast Growth
LOVE has been the topic of a number of analyst reports. Roth Mkm lifted their target price on shares of Lovesac from $22.00 to $28.00 and gave the stock a "buy" rating in a research note 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 note on Friday, April 11th. Oppenheimer reiterated an "outperform" rating and issued a $35.00 price objective on shares of Lovesac in a research note on Friday, April 11th. Finally, Canaccord Genuity Group lowered their target price on Lovesac from $45.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $31.67.
Check Out Our Latest Analysis on Lovesac
Lovesac Price Performance
NASDAQ:LOVE opened at $19.81 on Monday. The Lovesac Company has a 12 month low of $12.12 and a 12 month high of $39.49. The firm has a market capitalization of $294.08 million, a PE ratio of 58.26, a price-to-earnings-growth ratio of 0.65 and a beta of 2.30. The business's fifty day moving average price is $18.98 and its 200 day moving average price is $22.74.
Lovesac (NASDAQ:LOVE - Get Free Report) last issued its earnings results on Thursday, April 10th. The company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.33. The business had revenue of $241.50 million for the quarter, compared to analyst estimates of $230.33 million. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The business's quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.87 EPS. As a group, equities analysts anticipate that The Lovesac Company will post 0.39 EPS for the current year.
About Lovesac
(
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.
Read More
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