Great Valley Advisor Group Inc. Makes New $281,000 Investment in The Lovesac Company (NASDAQ:LOVE)

Great Valley Advisor Group Inc. acquired a new stake in shares of The Lovesac Company (NASDAQ:LOVE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,000 shares of the company’s stock, valued at approximately $281,000. Great Valley Advisor Group Inc. owned about 0.07% of Lovesac as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in Lovesac by 13.8% in the 3rd 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 in the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in Lovesac by 14.8% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 323,254 shares of the company’s stock valued at $6,439,000 after purchasing an additional 41,555 shares in the last quarter. Skylands Capital LLC increased its position in shares of Lovesac by 1.4% during the 4th quarter. Skylands Capital LLC now owns 178,965 shares of the company’s stock valued at $4,573,000 after purchasing an additional 2,525 shares during the period. BCGM Wealth Management LLC raised its stake in shares of Lovesac by 34.8% in the 3rd quarter. BCGM Wealth Management LLC now owns 121,833 shares of the company’s stock worth $2,427,000 after buying an additional 31,466 shares in the last quarter. Finally, Millrace Asset Group Inc. lifted its holdings in shares of Lovesac by 73.9% in the third quarter. Millrace Asset Group Inc. now owns 115,704 shares of the company’s stock valued at $2,305,000 after buying an additional 49,153 shares during the period. 91.32% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Keith R. Siegner purchased 4,800 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were acquired at an average price of $20.80 per share, with a total value of $99,840.00. Following the purchase, the chief financial officer now directly owns 4,800 shares in the company, valued at $99,840. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Lovesac news, CFO Keith R. Siegner acquired 4,800 shares of the business’s stock in a transaction on Friday, April 19th. The stock was purchased at an average price of $20.80 per share, for a total transaction of $99,840.00. Following the transaction, the chief financial officer now owns 4,800 shares in the company, valued at approximately $99,840. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Shawn David Nelson sold 6,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $22.44, for a total value of $134,640.00. Following the completion of the sale, the chief executive officer now owns 179,970 shares of the company’s stock, valued at $4,038,526.80. The disclosure for this sale can be found here. Company insiders own 12.09% of the company’s stock.

Lovesac Trading Up 2.6 %

Lovesac stock opened at $23.98 on Tuesday. The company has a market capitalization of $371.45 million, a P/E ratio of 17.13, a P/E/G ratio of 0.57 and a beta of 2.78. The Lovesac Company has a 1-year low of $14.18 and a 1-year high of $29.81. The firm’s fifty day simple moving average is $22.18 and its 200-day simple moving average is $22.20.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings results on Thursday, April 11th. The company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.06). The business had revenue of $250.00 million during the quarter, compared to analyst estimates of $265.35 million. Lovesac had a net margin of 3.39% and a return on equity of 12.19%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.74 earnings per share. On average, equities research analysts predict that The Lovesac Company will post 1.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LOVE has been the topic of a number of research analyst reports. Canaccord Genuity Group lowered their target price on Lovesac from $44.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Roth Mkm reiterated a “buy” rating and issued a $34.00 target price on shares of Lovesac in a report on Wednesday, April 10th. Oppenheimer reduced their target price on shares of Lovesac from $60.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, Maxim Group began coverage on Lovesac in a report on Wednesday, April 17th. They issued a “buy” rating and a $36.00 price target on the stock.

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.