The Lovesac Company (NASDAQ:LOVE) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• "Moderate Buy" is the consensus from six brokerages (five buys, one sell) with an average 1‑year target of $26.20, though several analysts have recently cut targets or issued sell/strong-sell calls (DA Davidson to $18, Canaccord to $24, Weiss sell, Wall Street Zen strong sell).
• Hedge funds have been increasing positions—Corient Private Wealth bought an additional 162,580 shares (now 279,087) and Millennium Management added 259,097 shares (now 327,477)—leaving institutional ownership at about 91.32%.
• Shares opened at $10.99 (up ~3.4%), with a market cap of $160.7M, P/E of 47.8, PEG 0.34, 50‑day/200‑day moving averages of $13.50/$14.61, and a 12‑month range of $10.44–$21.90.

Shares of The Lovesac Company (NASDAQ:LOVE - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $26.20.

Several equities research analysts recently commented on the stock. DA Davidson cut their target price on shares of Lovesac from $24.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, December 11th. Canaccord Genuity Group dropped their price target on shares of Lovesac from $30.00 to $24.00 and set a "buy" rating for the company in a research note on Friday, December 12th. Weiss Ratings reiterated a "sell (d)" rating on shares of Lovesac in a report on Monday, December 29th. Wall Street Zen cut shares of Lovesac from a "hold" rating to a "strong sell" rating in a research note on Saturday, December 13th. Finally, Maxim Group set a $26.00 price objective on Lovesac in a report on Friday, December 12th.

Hedge Funds Weigh In On Lovesac

A number of hedge funds have recently made changes to their positions in LOVE. Corient Private Wealth LLC lifted its stake in shares of Lovesac by 139.5% in the fourth quarter. Corient Private Wealth LLC now owns 279,087 shares of the company's stock worth $4,117,000 after acquiring an additional 162,580 shares during the period. Invesco Ltd. increased its position in Lovesac by 32.3% during the 4th quarter. Invesco Ltd. now owns 73,880 shares of the company's stock valued at $1,090,000 after purchasing an additional 18,027 shares during the period. Empowered Funds LLC raised its holdings in Lovesac by 10.8% during the 4th quarter. Empowered Funds LLC now owns 76,547 shares of the company's stock worth $1,129,000 after purchasing an additional 7,483 shares during the last quarter. XTX Topco Ltd bought a new position in Lovesac during the 4th quarter worth approximately $149,000. Finally, Millennium Management LLC lifted its position in shares of Lovesac by 378.9% in the 4th quarter. Millennium Management LLC now owns 327,477 shares of the company's stock worth $4,830,000 after purchasing an additional 259,097 shares during the period. 91.32% of the stock is currently owned by institutional investors.

Lovesac Trading Up 3.4%

Shares of LOVE stock opened at $10.99 on Tuesday. The firm has a market capitalization of $160.67 million, a price-to-earnings ratio of 47.78, a PEG ratio of 0.34 and a beta of 2.35. The business's 50-day moving average price is $13.50 and its 200-day moving average price is $14.61. Lovesac has a 12 month low of $10.44 and a 12 month high of $21.90.

About Lovesac

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.

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