The Lovesac Company (NASDAQ:LOVE) Given Average Rating of “Buy” by Brokerages

Shares of The Lovesac Company (NASDAQ:LOVE) have earned a consensus rating of “Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $38.33.

Several equities research analysts recently issued reports on LOVE shares. DA Davidson reiterated a “buy” rating and issued a $35.00 price objective on shares of Lovesac in a report on Tuesday, March 25th. Roth Mkm raised their target price on Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th.

Lovesac Stock Down 6.4 %

Shares of NASDAQ LOVE opened at $14.43 on Tuesday. The firm has a market cap of $222.70 million, a price-to-earnings ratio of 42.44, a price-to-earnings-growth ratio of 0.65 and a beta of 3.08. The company’s 50-day simple moving average is $20.34 and its 200-day simple moving average is $25.91. Lovesac has a 52-week low of $13.43 and a 52-week high of $39.49.

Insider Buying and Selling at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 30,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $26.33, for a total transaction of $789,900.00. Following the transaction, the director now owns 147,849 shares of the company’s stock, valued at approximately $3,892,864.17. The trade was a 16.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.33% of the stock is owned by insiders.

Institutional Trading of Lovesac

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Heck Capital Advisors LLC acquired a new position in shares of Lovesac during the 4th quarter valued at about $26,000. Charles Schwab Investment Management Inc. grew its stake in shares of Lovesac by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,524 shares of the company’s stock valued at $982,000 after buying an additional 1,243 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Lovesac by 13.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,462 shares of the company’s stock worth $272,000 after buying an additional 1,333 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Lovesac by 18.3% during the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock valued at $218,000 after buying an additional 1,425 shares during the period. Finally, BCGM Wealth Management LLC lifted its holdings in Lovesac by 1.2% in the fourth quarter. BCGM Wealth Management LLC now owns 135,979 shares of the company’s stock valued at $3,217,000 after acquiring an additional 1,615 shares during the last quarter. 91.32% of the stock is owned by institutional investors and hedge funds.

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.