The Lovesac Company (NASDAQ:LOVE) CFO Acquires $99,840.00 in Stock

The Lovesac Company (NASDAQ:LOVE) CFO Keith R. Siegner acquired 4,800 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were bought at an average price of $20.80 per share, for a total transaction of $99,840.00. Following the completion of the acquisition, the chief financial officer now owns 4,800 shares of the company’s stock, valued at $99,840. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Lovesac Price Performance

Lovesac stock opened at $21.85 on Friday. The firm has a market capitalization of $338.46 million, a PE ratio of 15.61, a P/E/G ratio of 0.48 and a beta of 2.87. The company’s 50-day moving average is $22.31 and its 200-day moving average is $21.87. The Lovesac Company has a fifty-two week low of $14.18 and a fifty-two week high of $29.81.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings data on Thursday, April 11th. The company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.06). The firm had revenue of $250.00 million for the quarter, compared to analyst estimates of $265.35 million. Lovesac had a return on equity of 12.19% and a net margin of 3.39%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.74 earnings per share. As a group, analysts expect that The Lovesac Company will post 1.3 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on LOVE shares. Maxim Group started coverage on shares of Lovesac in a research note on Wednesday, April 17th. They issued a “buy” rating and a $36.00 price target on the stock. Canaccord Genuity Group lowered their price target on shares of Lovesac from $44.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Finally, Roth Mkm reiterated a “buy” rating and issued a $34.00 price target on shares of Lovesac in a research note on Wednesday, April 10th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Byrne Asset Management LLC increased its stake in shares of Lovesac by 515.4% during the 1st quarter. Byrne Asset Management LLC now owns 3,200 shares of the company’s stock worth $72,000 after purchasing an additional 2,680 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Lovesac during the 4th quarter worth about $116,000. Barclays PLC increased its stake in shares of Lovesac by 15.2% during the 3rd quarter. Barclays PLC now owns 6,210 shares of the company’s stock worth $124,000 after purchasing an additional 818 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. bought a new stake in shares of Lovesac during the 3rd quarter worth about $199,000. Finally, Graham Capital Management L.P. bought a new stake in shares of Lovesac during the 3rd quarter worth about $255,000. 91.32% of the stock is currently owned by institutional investors and hedge funds.

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.