Voya Investment Management LLC purchased a new position in The Lovesac Company (NASDAQ:LOVE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 310,805 shares of the company's stock, valued at approximately $7,354,000. Voya Investment Management LLC owned about 2.01% of Lovesac as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in LOVE. JPMorgan Chase & Co. increased its holdings in shares of Lovesac by 76.1% during the third quarter. JPMorgan Chase & Co. now owns 33,510 shares of the company's stock valued at $960,000 after acquiring an additional 14,480 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Lovesac by 9.3% during the 4th quarter. Bank of New York Mellon Corp now owns 489,613 shares of the company's stock valued at $11,584,000 after purchasing an additional 41,751 shares in the last quarter. Franklin Resources Inc. purchased a new position in Lovesac in the third quarter worth about $231,000. American Century Companies Inc. lifted its stake in shares of Lovesac by 15.0% in the fourth quarter. American Century Companies Inc. now owns 436,790 shares of the company's stock worth $10,334,000 after buying an additional 56,989 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Lovesac by 305.0% during the fourth quarter. SG Americas Securities LLC now owns 24,064 shares of the company's stock valued at $569,000 after buying an additional 18,122 shares during the last quarter. Hedge funds and other institutional investors own 91.32% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on LOVE shares. Canaccord Genuity Group lowered their price objective on Lovesac from $45.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Oppenheimer reaffirmed an "outperform" rating and set a $35.00 price target on shares of Lovesac in a report on Friday, April 11th. Roth Mkm lifted their price objective on Lovesac from $22.00 to $28.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, DA Davidson dropped their price target on shares of Lovesac from $35.00 to $24.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Lovesac currently has an average rating of "Buy" and a consensus target price of $31.67.
View Our Latest Research Report on LOVE
Lovesac Price Performance
Shares of NASDAQ:LOVE traded up $0.85 during midday trading on Friday, hitting $20.02. The company had a trading volume of 219,901 shares, compared to its average volume of 374,519. The company has a market cap of $296.18 million, a price-to-earnings ratio of 58.88, a PEG ratio of 0.65 and a beta of 3.08. The company has a fifty day moving average of $18.13 and a two-hundred day moving average of $24.69. The Lovesac Company has a 12-month low of $12.12 and a 12-month high of $39.49.
Lovesac (NASDAQ:LOVE - Get Free Report) last posted its quarterly earnings data on Thursday, April 10th. The company reported $2.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.80 by $0.33. The firm had revenue of $241.50 million for the quarter, compared to analysts' expectations of $230.33 million. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The business's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.87 EPS. Research analysts expect that The Lovesac Company will post 0.39 earnings per share for the current fiscal year.
About Lovesac
(
Free Report)
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.
Further Reading
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