The Lovesac Company (NASDAQ:LOVE) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its holdings in The Lovesac Company (NASDAQ:LOVE) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,725 shares of the company’s stock after acquiring an additional 2,441 shares during the quarter. Empowered Funds LLC’s holdings in Lovesac were worth $1,224,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. BCGM Wealth Management LLC boosted its position in Lovesac by 0.8% during the third quarter. BCGM Wealth Management LLC now owns 134,364 shares of the company’s stock worth $3,850,000 after purchasing an additional 1,023 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Lovesac in the fourth quarter valued at $26,000. Geode Capital Management LLC raised its stake in shares of Lovesac by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock worth $9,634,000 after buying an additional 3,979 shares during the last quarter. State Street Corp boosted its position in shares of Lovesac by 1.7% in the 3rd quarter. State Street Corp now owns 299,081 shares of the company’s stock worth $8,569,000 after buying an additional 5,124 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Lovesac in the 3rd quarter worth about $170,000. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Lovesac Price Performance

Shares of NASDAQ LOVE opened at $23.52 on Monday. The company has a 50-day simple moving average of $25.65 and a 200-day simple moving average of $27.10. The company has a market cap of $362.91 million, a PE ratio of 69.18, a price-to-earnings-growth ratio of 0.65 and a beta of 3.02. The Lovesac Company has a 12 month low of $18.21 and a 12 month high of $39.49.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, December 12th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.02. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The firm had revenue of $149.90 million during the quarter, compared to analysts’ expectations of $155.26 million. During the same period in the previous year, the company earned ($0.15) EPS. Lovesac’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, analysts anticipate that The Lovesac Company will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Canaccord Genuity Group raised their target price on shares of Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, December 2nd. DA Davidson dropped their price objective on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Finally, Roth Mkm upped their target price on Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lovesac has an average rating of “Buy” and a consensus price target of $38.33.

Insider Activity

In other Lovesac news, Director Walter Field Mclallen purchased 4,000 shares of the stock in a transaction on Friday, December 20th. The stock was bought at an average price of $24.68 per share, for a total transaction of $98,720.00. Following the acquisition, the director now directly owns 23,540 shares of the company’s stock, valued at $580,967.20. This represents a 20.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Albert Jack Krause sold 30,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $26.33, for a total transaction of $789,900.00. Following the transaction, the director now directly owns 147,849 shares of the company’s stock, valued at approximately $3,892,864.17. This represents a 16.87 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.33% of the company’s stock.

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.