BNP Paribas Financial Markets Raises Position in The Lovesac Company (NASDAQ:LOVE)

BNP Paribas Financial Markets raised its stake in The Lovesac Company (NASDAQ:LOVE - Free Report) by 146.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,767 shares of the company's stock after buying an additional 38,520 shares during the quarter. BNP Paribas Financial Markets owned 0.42% of Lovesac worth $1,655,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in LOVE. Bank of New York Mellon Corp lifted its stake in Lovesac by 13.8% in the third quarter. Bank of New York Mellon Corp now owns 403,945 shares of the company's stock valued at $8,047,000 after buying an additional 49,096 shares during the period. Barclays PLC lifted its stake in Lovesac by 15.2% in the third quarter. Barclays PLC now owns 6,210 shares of the company's stock valued at $124,000 after buying an additional 818 shares during the period. Soltis Investment Advisors LLC increased its holdings in shares of Lovesac by 87.8% in the third quarter. Soltis Investment Advisors LLC now owns 104,783 shares of the company's stock worth $2,087,000 after acquiring an additional 48,988 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Lovesac in the third quarter worth about $803,000. Finally, BCGM Wealth Management LLC increased its holdings in shares of Lovesac by 34.8% in the third quarter. BCGM Wealth Management LLC now owns 121,833 shares of the company's stock worth $2,427,000 after acquiring an additional 31,466 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company's stock.

Insider Buying and Selling

In related news, Director Andrew R. Heyer purchased 3,856 shares of Lovesac stock in a transaction that occurred on Tuesday, April 16th. The stock was purchased at an average cost of $18.76 per share, with a total value of $72,338.56. Following the completion of the transaction, the director now owns 3,856 shares of the company's stock, valued at approximately $72,338.56. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Shawn David Nelson sold 6,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $22.44, for a total transaction of $134,640.00. Following the completion of the transaction, the chief executive officer now directly owns 179,970 shares of the company's stock, valued at $4,038,526.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 cost of $18.76 per share, with a total value of $72,338.56. Following the completion of the transaction, the director now directly owns 3,856 shares of the company's stock, valued at approximately $72,338.56. The disclosure for this purchase can be found here. 12.09% of the stock is owned by corporate insiders.

Lovesac Stock Up 0.6 %

Shares of NASDAQ:LOVE traded up $0.16 during mid-day trading on Friday, reaching $26.45. 172,162 shares of the stock were exchanged, compared to its average volume of 312,141. The company has a market cap of $409.71 million, a P/E ratio of 18.89, a P/E/G ratio of 0.64 and a beta of 2.78. The Lovesac Company has a one year low of $14.18 and a one year high of $29.81. The stock's 50 day simple moving average is $23.24 and its 200-day simple moving average is $23.19.

Lovesac (NASDAQ:LOVE - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $250.00 million for the quarter, compared to the consensus estimate of $265.35 million. Lovesac had a return on equity of 12.19% and a net margin of 3.39%. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.74 earnings per share. Analysts anticipate that The Lovesac Company will post 1.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LOVE has been the subject of several recent analyst reports. Oppenheimer lowered their price target on Lovesac from $60.00 to $35.00 and set an "outperform" rating for the company in a report on Wednesday, May 1st. Canaccord Genuity Group lowered their price target on Lovesac from $44.00 to $36.00 and set a "buy" rating for the company in a report on Friday, April 12th. Roth Mkm restated a "buy" rating and issued a $34.00 price target on shares of Lovesac in a report on Wednesday, April 10th. Finally, Maxim Group initiated coverage on Lovesac in a report on Wednesday, April 17th. They issued a "buy" rating and a $36.00 price target for the company.

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.