Lovesac (NASDAQ:LOVE) Rating Reiterated by Roth Mkm

Lovesac (NASDAQ:LOVEGet Free Report)‘s stock had its “buy” rating reissued by stock analysts at Roth Mkm in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $30.00 target price on the stock. Roth Mkm’s price objective would indicate a potential upside of 17.28% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Oppenheimer cut their target price on shares of Lovesac from $60.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Maxim Group started coverage on shares of Lovesac in a report on Wednesday, April 17th. They issued a “buy” rating and a $36.00 target price on the stock. Finally, Canaccord Genuity Group cut their target price on shares of Lovesac from $44.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, April 12th.

Check Out Our Latest Analysis on Lovesac

Lovesac Price Performance

Shares of NASDAQ:LOVE traded down $0.56 during trading on Tuesday, hitting $25.58. 59,579 shares of the company were exchanged, compared to its average volume of 290,409. The stock has a market capitalization of $396.23 million, a P/E ratio of 18.27, a PEG ratio of 0.64 and a beta of 2.86. Lovesac has a 12-month low of $14.18 and a 12-month high of $29.81. The firm’s 50 day moving average price is $24.39 and its 200-day moving average price is $23.91.

Lovesac (NASDAQ:LOVEGet Free Report) last issued 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 company had revenue of $250.00 million for the quarter, compared to analysts’ expectations of $265.35 million. Lovesac had a return on equity of 12.19% and a net margin of 3.39%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.74 EPS. As a group, equities research analysts anticipate that Lovesac will post 1.18 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Shawn David Nelson sold 6,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 179,970 shares in the company, valued at approximately $4,038,526.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Keith R. Siegner purchased 4,800 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were bought at an average cost 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 of the company’s stock, valued at $99,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Shawn David Nelson sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.44, for a total transaction of $134,640.00. Following the sale, the chief executive officer now directly owns 179,970 shares in the company, valued at $4,038,526.80. The disclosure for this sale can be found here. 12.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Lovesac

Hedge funds have recently modified their holdings of the stock. CastleKnight Management LP raised its holdings in shares of Lovesac by 251.3% during the 4th quarter. CastleKnight Management LP now owns 40,400 shares of the company’s stock valued at $1,032,000 after buying an additional 28,900 shares during the period. Halter Ferguson Financial Inc. acquired a new position in shares of Lovesac during the fourth quarter worth $5,160,000. BNP Paribas Financial Markets boosted its stake in shares of Lovesac by 146.8% in the fourth quarter. BNP Paribas Financial Markets now owns 64,767 shares of the company’s stock valued at $1,655,000 after purchasing an additional 38,520 shares during the period. Millrace Asset Group Inc. grew its holdings in Lovesac by 73.9% during the 3rd quarter. Millrace Asset Group Inc. now owns 115,704 shares of the company’s stock valued at $2,305,000 after purchasing an additional 49,153 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Lovesac during the 3rd quarter worth $1,189,000. 91.32% of the stock is owned by institutional investors and hedge funds.

About Lovesac

(Get 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.

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