Lovesac (NASDAQ:LOVE) Downgraded by Wall Street Zen to Sell

Lovesac (NASDAQ:LOVE - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Friday.

Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity Group lowered 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. Roth Mkm upped their target price on shares of Lovesac from $22.00 to $28.00 and gave the company a "buy" rating in a report 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 on the stock in a research note on Friday, April 11th. Finally, Oppenheimer reissued an "outperform" rating and set a $35.00 price objective on shares of Lovesac in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, Lovesac currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.40.

Lovesac Stock Up 2.2%

Shares of LOVE traded up $0.40 during trading hours on Friday, reaching $18.79. 383,730 shares of the company traded hands, compared to its average volume of 387,811. The company's fifty day moving average price is $19.46 and its two-hundred day moving average price is $20.99. The company has a market capitalization of $273.39 million, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 0.59 and a beta of 2.30. Lovesac has a 12 month low of $12.12 and a 12 month high of $39.49.

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

Insiders Place Their Bets

In other Lovesac news, Director Walter Field Mclallen bought 1,950 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was purchased at an average price of $18.08 per share, for a total transaction of $35,256.00. Following the completion of the transaction, the director now owns 40,000 shares of the company's stock, valued at $723,200. This trade represents a 5.12% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 12.33% of the company's stock.

Institutional Investors Weigh In On Lovesac

A number of institutional investors have recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC purchased a new position in shares of Lovesac in the fourth quarter worth $26,000. Cubist Systematic Strategies LLC purchased a new stake in Lovesac in the 4th quarter worth $49,000. Quarry LP lifted its stake in Lovesac by 396.3% in 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 in the last quarter. AlphaQuest LLC bought a new position in shares of Lovesac during the 4th quarter valued at about $70,000. Finally, MetLife Investment Management LLC grew its position 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 valued at $218,000 after purchasing an additional 1,425 shares in the last quarter. 91.32% of the stock is owned by hedge funds and other institutional investors.

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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