Halter Ferguson Financial Inc. Makes New Investment in The Lovesac Company (NASDAQ:LOVE)

Halter Ferguson Financial Inc. purchased a new position in shares of The Lovesac Company (NASDAQ:LOVE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 201,939 shares of the company's stock, valued at approximately $5,160,000. Lovesac makes up approximately 3.3% of Halter Ferguson Financial Inc.'s portfolio, making the stock its 9th largest position. Halter Ferguson Financial Inc. owned approximately 1.30% of Lovesac at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Lovesac in the 4th quarter valued at approximately $116,000. Barclays PLC increased its holdings in shares of Lovesac by 15.2% in the 3rd quarter. Barclays PLC now owns 6,210 shares of the company's stock valued at $124,000 after acquiring an additional 818 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Lovesac in the 4th quarter valued at approximately $261,000. Great Valley Advisor Group Inc. bought a new stake in shares of Lovesac in the 4th quarter valued at approximately $281,000. Finally, Graham Capital Management L.P. bought a new stake in shares of Lovesac in the 3rd quarter valued at approximately $255,000. 91.32% of the stock is owned by institutional investors and hedge funds.

Lovesac Stock Up 0.6 %

LOVE stock traded up $0.16 during trading on Friday, reaching $26.45. 172,152 shares of the company's stock were exchanged, compared to its average volume of 296,426. The Lovesac Company has a 1-year low of $14.18 and a 1-year high of $29.81. The company's fifty day moving average price is $23.24 and its 200-day moving average price is $23.12. The firm has a market cap of $409.71 million, a PE ratio of 18.89, a P/E/G ratio of 0.65 and a beta of 2.78.

Lovesac (NASDAQ:LOVE - Get Free Report) last announced its quarterly earnings results on Thursday, April 11th. The company reported $1.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.93 by ($0.06). Lovesac had a return on equity of 12.19% and a net margin of 3.39%. The business had revenue of $250.00 million for the quarter, compared to analyst estimates of $265.35 million. During the same quarter last year, the firm posted $1.74 EPS. The company's revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts expect that The Lovesac Company will post 1.18 earnings per share for the current fiscal year.

Insider Activity at Lovesac

In other news, Director Andrew R. Heyer bought 3,856 shares of the firm's stock in a transaction that occurred on Tuesday, April 16th. The stock was acquired at an average price of $18.76 per share, with a total value of $72,338.56. Following the completion of the purchase, the director now directly owns 3,856 shares of the company's stock, valued at approximately $72,338.56. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Shawn David Nelson sold 6,000 shares of the stock in a transaction on Friday, March 15th. The stock was 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 in the company, valued at approximately $4,038,526.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew R. Heyer purchased 3,856 shares of the firm's stock in a transaction that occurred on Tuesday, April 16th. The stock was bought at an average price of $18.76 per share, with a total value of $72,338.56. Following the transaction, the director now directly owns 3,856 shares in the company, valued at $72,338.56. The disclosure for this purchase can be found here. Company insiders own 12.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LOVE shares. Canaccord Genuity Group lowered their price objective on Lovesac from $44.00 to $36.00 and set a "buy" rating for the company in a research note on Friday, April 12th. Roth Mkm restated a "buy" rating and set a $34.00 price objective on shares of Lovesac in a research note on Wednesday, April 10th. Maxim Group started coverage on Lovesac in a research note on Wednesday, April 17th. They set a "buy" rating and a $36.00 price objective for the company. Finally, Oppenheimer lowered their price objective on Lovesac from $60.00 to $35.00 and set an "outperform" rating for the company in a research note on Wednesday, May 1st.

Lovesac 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.