Insider Buying: The Lovesac Company (NASDAQ:LOVE) Director Buys 1,950 Shares of Stock

The Lovesac Company (NASDAQ:LOVE - Get Free Report) Director Walter Field Mclallen acquired 1,950 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were acquired at an average price of $18.08 per share, with a total value of $35,256.00. Following the acquisition, the director now owns 40,000 shares in the company, valued at $723,200. This trade represents a 5.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lovesac Stock Up 2.7%

Shares of Lovesac stock traded up $0.49 during mid-day trading on Monday, reaching $18.60. 406,873 shares of the stock traded hands, compared to its average volume of 387,354. The Lovesac Company has a fifty-two week low of $12.12 and a fifty-two week high of $39.49. The stock has a market capitalization of $270.61 million, a PE ratio of 26.57, a PEG ratio of 0.58 and a beta of 2.30. The business has a 50-day moving average of $19.56 and a 200 day moving average of $21.42.

Lovesac (NASDAQ:LOVE - Get Free Report) last posted its quarterly earnings results on Thursday, June 12th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.08. The firm had revenue of $138.37 million during the quarter, compared to analysts' expectations of $137.20 million. Lovesac had a return on equity of 6.70% and a net margin of 1.99%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.83) earnings per share. On average, equities research analysts expect that The Lovesac Company will post 0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in Lovesac in the fourth quarter valued at $26,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Lovesac during the fourth quarter worth about $49,000. AlphaQuest LLC acquired a new position in Lovesac in the 4th quarter valued at about $70,000. Quarry LP increased its position in Lovesac by 396.3% during the 1st quarter. Quarry LP now owns 3,052 shares of the company's stock worth $55,000 after purchasing an additional 2,437 shares during the period. Finally, MetLife Investment Management LLC increased its position in Lovesac by 18.3% during the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company's stock worth $218,000 after purchasing an additional 1,425 shares during the period. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LOVE has been the subject of a number of research analyst reports. Oppenheimer reaffirmed an "outperform" rating and set a $35.00 target price on shares of Lovesac in a research report on Friday, April 11th. DA Davidson dropped their price target on Lovesac from $35.00 to $24.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Canaccord Genuity Group lowered their target price on Lovesac from $45.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Roth Mkm increased their price target on Lovesac from $22.00 to $28.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Lovesac has an average rating of "Buy" and a consensus price target of $30.40.

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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