MML Investors Services LLC Sells 38,017 Shares of The Lovesac Company (NASDAQ:LOVE)

MML Investors Services LLC lowered its position in The Lovesac Company (NASDAQ:LOVE - Free Report) by 27.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 100,876 shares of the company's stock after selling 38,017 shares during the period. MML Investors Services LLC owned 0.65% of Lovesac worth $2,387,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LOVE. Heck Capital Advisors LLC bought a new stake in Lovesac during the 4th quarter worth approximately $26,000. AlphaQuest LLC bought a new stake in Lovesac during the fourth quarter worth $70,000. MetLife Investment Management LLC raised its position in Lovesac by 18.3% in the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company's stock valued at $218,000 after buying an additional 1,425 shares during the last quarter. Franklin Resources Inc. bought a new position in Lovesac during the 3rd quarter valued at $231,000. Finally, Wells Fargo & Company MN boosted its holdings in Lovesac by 24.8% during the 4th quarter. Wells Fargo & Company MN now owns 9,823 shares of the company's stock worth $232,000 after acquiring an additional 1,950 shares during the last quarter. Institutional investors and hedge funds own 91.32% of the company's stock.

Analyst Ratings Changes

LOVE has been the topic of several analyst reports. DA Davidson cut their price target on shares of Lovesac from $35.00 to $24.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Roth Mkm upped their target price on Lovesac from $22.00 to $28.00 and gave the company a "buy" rating in a report on Friday, April 11th. Oppenheimer reiterated an "outperform" rating and set a $35.00 price target on shares of Lovesac in a report on Friday, April 11th. Finally, Canaccord Genuity Group reduced their price objective on Lovesac from $45.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $31.67.

Lovesac Stock Performance

NASDAQ:LOVE traded down $0.28 during trading hours on Thursday, reaching $19.17. The stock had a trading volume of 380,685 shares, compared to its average volume of 374,360. The stock has a market cap of $283.60 million, a P/E ratio of 56.38, a price-to-earnings-growth ratio of 0.65 and a beta of 3.08. The stock has a 50 day simple moving average of $18.16 and a 200 day simple moving average of $24.74. The Lovesac Company has a 12-month low of $12.12 and a 12-month high of $39.49.

Lovesac (NASDAQ:LOVE - Get Free Report) last released its quarterly earnings data on Thursday, April 10th. The company reported $2.13 EPS for the quarter, beating the consensus estimate of $1.80 by $0.33. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The business had revenue of $241.50 million for the quarter, compared to the consensus estimate of $230.33 million. During the same period in the prior year, the firm earned $1.87 earnings per share. The company's revenue was down 3.6% compared to the same quarter last year. On average, equities analysts expect that The Lovesac Company will post 0.39 earnings per share for the current fiscal year.

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.