DA Davidson Reaffirms Buy Rating for Lovesac (NASDAQ:LOVE)

DA Davidson restated their buy rating on shares of Lovesac (NASDAQ:LOVE) in a report published on Thursday morning, Benzinga reports. They currently have a $32.00 price objective on the stock.

Other equities research analysts have also issued research reports about the company. Roth Mkm lifted their price target on Lovesac from $30.00 to $31.00 and gave the stock a buy rating in a research note on Friday, September 13th. Craig Hallum increased their price target on shares of Lovesac from $30.00 to $35.00 and gave the company a buy rating in a research report on Friday, September 13th. Maxim Group boosted their price objective on shares of Lovesac from $36.00 to $38.00 and gave the stock a buy rating in a report on Monday, June 17th. Finally, Canaccord Genuity Group reaffirmed a buy rating and set a $36.00 target price on shares of Lovesac in a report on Friday, September 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $34.50.

Lovesac Stock Performance

Lovesac stock opened at $25.63 on Thursday. Lovesac has a fifty-two week low of $14.18 and a fifty-two week high of $30.39. The firm’s fifty day moving average price is $24.68 and its 200-day moving average price is $24.46. The stock has a market cap of $398.57 million, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 0.71 and a beta of 2.91.

Insider Activity

In related news, Director Albert Jack Krause sold 10,000 shares of Lovesac stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total value of $262,200.00. Following the transaction, the director now directly owns 177,849 shares of the company’s stock, valued at $4,663,200.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 12.33% of the company’s stock.

Institutional Trading of Lovesac

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Lovesac during the 3rd quarter valued at approximately $170,000. Marshall Wace LLP bought a new position in shares of Lovesac during the second quarter valued at approximately $4,328,000. Lombard Odier Asset Management USA Corp purchased a new stake in Lovesac in the second quarter worth $346,000. Hood River Capital Management LLC boosted its holdings in Lovesac by 8.8% in the second quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock valued at $17,477,000 after acquiring an additional 62,615 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Lovesac by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock valued at $17,951,000 after purchasing an additional 26,872 shares during the period. 91.32% of the stock is owned by institutional investors.

About Lovesac

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.