Andrew R. Heyer Acquires 3,856 Shares of The Lovesac Company (NASDAQ:LOVE) Stock

The Lovesac Company (NASDAQ:LOVE - Get Free Report) Director Andrew R. Heyer purchased 3,856 shares of Lovesac stock in a transaction that occurred on Tuesday, April 16th. The shares were bought at an average price of $18.76 per share, for a total transaction of $72,338.56. Following the completion of the transaction, the director now owns 3,856 shares in the company, valued at $72,338.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Lovesac Stock Performance

Shares of LOVE traded up $0.17 on Thursday, reaching $20.35. The stock had a trading volume of 379,558 shares, compared to its average volume of 290,454. The firm has a market capitalization of $315.22 million, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 0.43 and a beta of 2.87. The company has a 50-day simple moving average of $22.59 and a 200-day simple moving average of $21.74. The Lovesac Company has a 12-month low of $14.18 and a 12-month high of $29.81.

Lovesac (NASDAQ:LOVE - Get Free Report) last released its earnings results on Thursday, April 11th. The company reported $1.87 EPS for the quarter, missing analysts' consensus estimates of $1.93 by ($0.06). The firm had revenue of $250.00 million during the quarter, compared to analysts' expectations of $265.35 million. Lovesac had a net margin of 3.39% and a return on equity of 12.19%. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.74 EPS. On average, analysts expect that The Lovesac Company will post 1.3 EPS for the current fiscal year.

Analyst Ratings Changes

LOVE has been the topic of several recent research reports. Canaccord Genuity Group reduced their price target on Lovesac from $44.00 to $36.00 and set a "buy" rating on the stock in a research report on Friday, April 12th. Roth Mkm reiterated a "buy" rating and issued a $34.00 price objective on shares of Lovesac in a report on Wednesday, April 10th. Finally, Maxim Group initiated coverage on Lovesac in a report on Wednesday. They issued a "buy" rating and a $36.00 price objective for the company.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors raised its stake in Lovesac by 110.6% during the first quarter. Captrust Financial Advisors now owns 577 shares of the company's stock valued at $31,000 after buying an additional 303 shares during the last quarter. Legal & General Group Plc raised its stake in Lovesac by 7.6% during the fourth quarter. Legal & General Group Plc now owns 5,405 shares of the company's stock valued at $119,000 after buying an additional 383 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Lovesac by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 47,547 shares of the company's stock valued at $2,571,000 after buying an additional 418 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Lovesac by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,689 shares of the company's stock valued at $1,118,000 after buying an additional 454 shares during the last quarter. Finally, Citigroup Inc. raised its stake in Lovesac by 32.6% during the first quarter. Citigroup Inc. now owns 2,339 shares of the company's stock valued at $68,000 after buying an additional 575 shares during the last quarter. Hedge funds and other institutional investors own 91.32% of the company's stock.

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.

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