Two Sigma Investments LP Increases Holdings in The Lovesac Company (NASDAQ:LOVE)

Two Sigma Investments LP boosted its holdings in The Lovesac Company (NASDAQ:LOVE - Free Report) by 181.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,640 shares of the company's stock after purchasing an additional 55,881 shares during the quarter. Two Sigma Investments LP owned 0.56% of Lovesac worth $2,050,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of LOVE. Voya Investment Management LLC acquired a new stake in Lovesac in the 4th quarter worth about $7,354,000. Senvest Management LLC raised its position in shares of Lovesac by 17.4% in the 4th quarter. Senvest Management LLC now owns 1,106,767 shares of the company's stock valued at $26,186,000 after buying an additional 163,745 shares in the last quarter. Penn Capital Management Company LLC acquired a new position in shares of Lovesac in the 4th quarter valued at approximately $3,722,000. New York State Common Retirement Fund raised its position in shares of Lovesac by 1,976.1% in 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 buying an additional 113,073 shares in the last quarter. Finally, Anson Funds Management LP raised its position in shares of Lovesac by 12.9% in the 4th quarter. Anson Funds Management LP now owns 919,229 shares of the company's stock valued at $21,749,000 after buying an additional 104,866 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company's stock.

Lovesac Price Performance

Shares of NASDAQ:LOVE traded down $0.19 during trading on Thursday, reaching $19.22. 147,789 shares of the stock were exchanged, compared to its average volume of 378,584. The Lovesac Company has a 1-year low of $12.12 and a 1-year high of $39.49. The stock has a fifty day moving average of $18.93 and a two-hundred day moving average of $22.99. The firm has a market cap of $285.32 million, a price-to-earnings ratio of 56.53, a price-to-earnings-growth ratio of 0.65 and a beta of 2.48.

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 analysts' consensus estimates of $1.80 by $0.33. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The company had revenue of $241.50 million for the quarter, compared to analyst estimates of $230.33 million. During the same period in the prior year, the firm earned $1.87 earnings per share. Lovesac's revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts forecast that The Lovesac Company will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. DA Davidson dropped their target price 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. Roth Mkm lifted their price target on shares of Lovesac from $22.00 to $28.00 and gave the company a "buy" rating in a report on Friday, April 11th. Oppenheimer restated an "outperform" rating and issued a $35.00 price target on shares of Lovesac in a research report on Friday, April 11th. Finally, Canaccord Genuity Group reduced their price objective 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $31.67.

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.