Lovesac (NASDAQ:LOVE) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Lovesac (NASDAQ:LOVE - Free Report) from a hold rating to a sell rating in a research report released on Friday morning.

Other equities research analysts also recently issued research reports about the stock. Roth Mkm boosted their price objective on shares of Lovesac from $22.00 to $28.00 and gave the company a "buy" rating in a research report on Friday, April 11th. DA Davidson decreased 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. Canaccord Genuity Group decreased their target price 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, Oppenheimer restated an "outperform" rating and issued a $35.00 target price on shares of Lovesac in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.40.

Lovesac Price Performance

Shares of NASDAQ:LOVE traded down $0.59 during trading on Friday, reaching $18.20. 381,560 shares of the company's stock traded hands, compared to its average volume of 386,774. Lovesac has a 12 month low of $12.12 and a 12 month high of $39.49. The company has a 50 day moving average of $19.46 and a 200-day moving average of $20.84. The stock has a market capitalization of $264.81 million, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 0.60 and a beta of 2.30.

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

Insider Activity

In related news, Director Walter Field Mclallen acquired 1,950 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was acquired at an average cost of $18.08 per share, for a total transaction of $35,256.00. Following the completion of the acquisition, the director directly owned 40,000 shares of the company's stock, valued at approximately $723,200. The trade was a 5.12% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 12.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LOVE. Heck Capital Advisors LLC bought a new position in shares of Lovesac in the fourth quarter valued at approximately $26,000. Cubist Systematic Strategies LLC bought a new position in shares of Lovesac in the fourth quarter valued at approximately $49,000. Quarry LP boosted its holdings in shares of Lovesac by 396.3% in the first quarter. Quarry LP now owns 3,052 shares of the company's stock valued at $55,000 after acquiring an additional 2,437 shares in the last quarter. AlphaQuest LLC bought a new position in shares of Lovesac in the fourth quarter valued at approximately $70,000. Finally, MetLife Investment Management LLC boosted its holdings in shares of Lovesac by 18.3% in the fourth quarter. MetLife Investment Management LLC now owns 9,233 shares of the company's stock valued at $218,000 after acquiring an additional 1,425 shares in the last quarter. 91.32% of the stock is currently owned by institutional investors.

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.