Lovesac (NASDAQ:LOVE) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Lovesac (NASDAQ:LOVE - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $1.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.93 by ($0.06), Briefing.com reports. Lovesac had a return on equity of 10.83% and a net margin of 2.97%. The business had revenue of $250.00 million during the quarter, compared to analysts' expectations of $265.35 million. During the same quarter in the previous year, the company posted $1.74 EPS. The company's quarterly revenue was up 4.8% on a year-over-year basis.

Lovesac Price Performance

Shares of Lovesac stock traded down $1.22 during trading on Friday, reaching $19.51. 854,605 shares of the stock traded hands, compared to its average volume of 282,217. The company has a market capitalization of $302.21 million, a price-to-earnings ratio of 15.36, a P/E/G ratio of 0.30 and a beta of 2.87. The business has a fifty day simple moving average of $22.89 and a two-hundred day simple moving average of $21.73. Lovesac has a 52-week low of $14.18 and a 52-week high of $30.93.

Insider Activity

In related news, CEO Shawn David Nelson sold 6,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $22.44, for a total value of $134,640.00. Following the completion of the transaction, the chief executive officer now owns 179,970 shares of the company's stock, valued at approximately $4,038,526.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.09% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors lifted its holdings in shares of Lovesac by 110.6% in the 1st quarter. Captrust Financial Advisors now owns 577 shares of the company's stock valued at $31,000 after acquiring an additional 303 shares during the last quarter. Legal & General Group Plc lifted its stake in Lovesac by 7.6% in the fourth quarter. Legal & General Group Plc now owns 5,405 shares of the company's stock worth $119,000 after purchasing an additional 383 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Lovesac by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 47,547 shares of the company's stock worth $2,571,000 after purchasing an additional 418 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Lovesac by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 38,689 shares of the company's stock worth $1,118,000 after purchasing an additional 454 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in Lovesac by 32.6% in the first quarter. Citigroup Inc. now owns 2,339 shares of the company's stock worth $68,000 after purchasing an additional 575 shares during the last quarter. Institutional investors own 91.32% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LOVE shares. Canaccord Genuity Group cut their price objective on Lovesac from $44.00 to $36.00 and set a "buy" rating for the company in a research report on Friday. Roth Mkm restated a "buy" rating and set a $34.00 price objective on shares of Lovesac in a research report on Wednesday.

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 lovesac.com website, as well as showrooms at top tier malls, lifestyle centers, mobile concierges, kiosks, and street locations in 40 states of the United States; and in store pop-up- shops and shop-in-shops.