Lovesac (NASDAQ:LOVE) Upgraded to "Hold" at Wall Street Zen

Lovesac (NASDAQ:LOVE - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Other research analysts have also recently issued research reports about the stock. Roth Mkm upped their price target 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 reduced their price target on shares of Lovesac from $35.00 to $24.00 and set a "buy" rating for the company in a report on Friday, April 11th. Oppenheimer restated an "outperform" rating and set a $35.00 target price on shares of Lovesac in a report on Friday, April 11th. Finally, Canaccord Genuity Group reduced their target price on shares of Lovesac from $45.00 to $30.00 and set a "buy" rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $30.40.

Lovesac Price Performance

Shares of Lovesac stock traded down $0.75 on Friday, hitting $18.11. The company had a trading volume of 142,812 shares, compared to its average volume of 386,053. The firm has a market capitalization of $263.48 million, a P/E ratio of 25.87, a P/E/G ratio of 0.58 and a beta of 2.24. Lovesac has a twelve month low of $12.12 and a twelve month high of $39.49. The stock has a 50-day moving average of $19.19 and a 200-day moving average of $20.44.

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

Insider Transactions at Lovesac

In other news, Director Walter Field Mclallen purchased 1,950 shares of the company's stock in a transaction on Friday, June 20th. The shares were purchased at an average cost of $18.08 per share, with a total value of $35,256.00. Following the completion of the transaction, the director owned 40,000 shares of the company's stock, valued at $723,200. The trade was a 5.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.33% of the company's stock.

Hedge Funds Weigh In On Lovesac

Large investors have recently modified their holdings of the stock. Harbour Capital Advisors LLC bought a new position in Lovesac in the 1st quarter valued at about $327,000. GAMMA Investing LLC raised its holdings in Lovesac by 12,234.3% in the 1st quarter. GAMMA Investing LLC now owns 12,581 shares of the company's stock valued at $229,000 after acquiring an additional 12,479 shares during the period. American Century Companies Inc. grew its position in shares of Lovesac by 15.0% during the 4th quarter. American Century Companies Inc. now owns 436,790 shares of the company's stock worth $10,334,000 after purchasing an additional 56,989 shares in the last quarter. Two Sigma Investments LP grew its position in shares of Lovesac by 181.7% during the 4th quarter. Two Sigma Investments LP now owns 86,640 shares of the company's stock worth $2,050,000 after purchasing an additional 55,881 shares in the last quarter. Finally, Man Group plc acquired a new position in shares of Lovesac during the 4th quarter worth approximately $327,000. 91.32% of the stock is owned by 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.