Insider Buying: Lovesac (NASDAQ:LOVE) CEO Purchases $25,035.15 in Stock

Key Points

• CEO purchase: Lovesac CEO Shawn David Nelson bought 1,477 shares on April 16 at $16.95 each for $25,035.15, increasing his stake to 202,681 shares (a 0.73% ownership increase) valued at $3,435,442.95.
• Recent results: Lovesac beat quarterly expectations with $2.19 EPS and $248.05M revenue, but showed slim profitability (net margin 0.58%, ROE 2.02%) while analysts forecast 0.39 EPS for the year.
• Market view and ownership: The stock carries a consensus "Moderate Buy" price target of $22.67, is trading with a P/E of 60.86 and high volatility (beta 2.21), and is heavily institutionally owned (91.32%).

The Lovesac Company (NASDAQ:LOVE - Get Free Report) CEO Shawn David Nelson bought 1,477 shares of the firm's stock in a transaction 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 directly owned 202,681 shares in the company, valued at $3,435,442.95. The trade was a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lovesac Price Performance

Shares of NASDAQ LOVE opened at $17.65 on Monday. The company has a 50 day simple moving average of $13.24 and a 200-day simple moving average of $13.89. The company has a market capitalization of $257.99 million, a P/E ratio of 60.86, a P/E/G ratio of 0.85 and a beta of 2.21. The Lovesac Company has a 1 year low of $10.33 and a 1 year high of $21.90.

Lovesac (NASDAQ:LOVE - Get Free Report) last released its quarterly earnings data on Thursday, March 26th. The company reported $2.19 EPS for the quarter, beating analysts' consensus estimates of $2.00 by $0.19. The firm had revenue of $248.05 million for the quarter, compared to analysts' expectations of $242.77 million. Lovesac had a return on equity of 2.02% and a net margin of 0.58%.The firm's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.13 earnings per share. As a group, research analysts expect that The Lovesac Company will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LOVE. Invenomic Capital Management LP purchased a new stake in shares of Lovesac in the 4th quarter valued at $5,350,000. Millennium Management LLC boosted its holdings in Lovesac by 378.9% during the 4th quarter. Millennium Management LLC now owns 327,477 shares of the company's stock valued at $4,830,000 after acquiring an additional 259,097 shares during the period. Kanen Wealth Management LLC acquired a new position in Lovesac in the 3rd quarter valued at about $4,025,000. Bridgeway Capital Management LLC grew its position in Lovesac by 252.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 306,687 shares of the company's stock valued at $5,582,000 after acquiring an additional 219,762 shares in the last quarter. Finally, 4D Advisors LLC purchased a new stake in Lovesac during the fourth quarter worth about $2,950,000. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

About Lovesac

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.