Granahan Investment Management LLC Trims Position in The Lovesac Company (NASDAQ:LOVE)

Granahan Investment Management LLC lessened its holdings in shares of The Lovesac Company (NASDAQ:LOVE - Free Report) by 32.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 320,558 shares of the company's stock after selling 156,300 shares during the quarter. Granahan Investment Management LLC owned approximately 2.08% of Lovesac worth $7,584,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Voya Investment Management LLC bought a new position in Lovesac in the 4th quarter worth $7,354,000. Senvest Management LLC lifted its holdings in Lovesac by 17.4% in the fourth quarter. Senvest Management LLC now owns 1,106,767 shares of the company's stock worth $26,186,000 after buying an additional 163,745 shares during the period. Penn Capital Management Company LLC bought a new stake in Lovesac during the 4th quarter valued at approximately $3,722,000. New York State Common Retirement Fund grew its holdings in shares of 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 worth $2,811,000 after acquiring an additional 113,073 shares during the period. 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 worth $21,749,000 after acquiring an additional 104,866 shares in the last quarter. Hedge funds and other institutional investors own 91.32% of the company's stock.

Lovesac Trading Down 3.9 %

Lovesac stock opened at $20.10 on Friday. The Lovesac Company has a 12 month low of $12.12 and a 12 month high of $39.49. The stock has a fifty day simple moving average of $18.11 and a two-hundred day simple moving average of $24.39. The firm has a market cap of $298.38 million, a price-to-earnings ratio of 59.12, a PEG ratio of 0.65 and a beta of 2.48.

Lovesac (NASDAQ:LOVE - Get Free Report) last released its quarterly earnings data on Thursday, April 10th. The company reported $2.13 EPS for the quarter, topping the consensus estimate of $1.80 by $0.33. The company had revenue of $241.50 million during the quarter, compared to the consensus estimate of $230.33 million. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. Lovesac's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the company earned $1.87 EPS. On average, equities research analysts forecast that The Lovesac Company will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LOVE has been the topic of several recent research reports. Roth Mkm upped their price target on Lovesac from $22.00 to $28.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Oppenheimer reaffirmed an "outperform" rating and issued a $35.00 target price on shares of Lovesac in a research report on Friday, April 11th. Canaccord Genuity Group lowered 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. Finally, DA Davidson dropped their price objective on shares of Lovesac from $35.00 to $24.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $31.67.

About Lovesac

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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