Merit Financial Group LLC Has $494,000 Holdings in The Lovesac Company (NASDAQ:LOVE)

Merit Financial Group LLC grew its position in shares of The Lovesac Company (NASDAQ:LOVE) by 40.7% in the 4th quarter, Holdings Channel reports. The firm owned 19,354 shares of the company’s stock after acquiring an additional 5,600 shares during the quarter. Merit Financial Group LLC’s holdings in Lovesac were worth $494,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Lovesac in the fourth quarter valued at $116,000. Barclays PLC lifted its stake in shares of Lovesac by 15.2% in the 3rd quarter. Barclays PLC now owns 6,210 shares of the company’s stock valued at $124,000 after purchasing an additional 818 shares during the period. Graham Capital Management L.P. bought a new stake in shares of Lovesac during the 3rd quarter valued at about $255,000. International Assets Investment Management LLC acquired a new stake in Lovesac during the fourth quarter worth approximately $261,000. Finally, Great Valley Advisor Group Inc. bought a new stake in Lovesac in the fourth quarter worth approximately $281,000. Institutional investors and hedge funds own 91.32% of the company’s stock.

Lovesac Price Performance

LOVE opened at $23.95 on Wednesday. The firm has a market capitalization of $370.99 million, a PE ratio of 17.11, a P/E/G ratio of 0.57 and a beta of 2.78. The Lovesac Company has a fifty-two week low of $14.18 and a fifty-two week high of $29.81. The company’s 50-day moving average is $22.18 and its 200 day moving average is $22.26.

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

Insiders Place Their Bets

In other news, Director Andrew R. Heyer acquired 3,856 shares of Lovesac stock in a transaction on Tuesday, April 16th. The stock was acquired at an average cost of $18.76 per share, with a total value of $72,338.56. Following the transaction, the director now owns 3,856 shares of the company’s stock, valued at approximately $72,338.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 bought at an average price of $18.76 per share, for a total transaction of $72,338.56. Following the completion of the transaction, the director now owns 3,856 shares in the company, valued at $72,338.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith R. Siegner acquired 4,800 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were bought at an average price of $20.80 per share, with a total value of $99,840.00. Following the acquisition, the chief financial officer now directly owns 4,800 shares of the company’s stock, valued at approximately $99,840. The disclosure for this purchase can be found here. Insiders own 12.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on LOVE. Roth Mkm reaffirmed a “buy” rating and set a $34.00 price objective on shares of Lovesac in a research report on Wednesday, April 10th. Canaccord Genuity Group decreased their price target on shares of Lovesac from $44.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Maxim Group began coverage on shares of Lovesac in a research report on Wednesday, April 17th. They set a “buy” rating and a $36.00 price objective on the stock. Finally, Oppenheimer decreased their target price on Lovesac from $60.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st.

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.