Two Sigma Advisers LP Invests $265,000 in The Lovesac Company (NASDAQ:LOVE)

Two Sigma Advisers LP bought a new stake in shares of The Lovesac Company (NASDAQ:LOVE) during the fourth quarter, Holdings Channel reports. The fund bought 11,200 shares of the company’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LOVE. Cubist Systematic Strategies LLC purchased a new position in Lovesac in the 4th quarter valued at $49,000. AlphaQuest LLC acquired a new stake in shares of Lovesac in the 4th quarter worth $70,000. MetLife Investment Management LLC increased its stake in shares of Lovesac by 18.3% in the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock worth $218,000 after acquiring an additional 1,425 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Lovesac by 24.8% in the 4th quarter. Wells Fargo & Company MN now owns 9,823 shares of the company’s stock worth $232,000 after acquiring an additional 1,950 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Lovesac by 13.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,462 shares of the company’s stock worth $272,000 after acquiring an additional 1,333 shares during the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LOVE shares. Oppenheimer reissued an “outperform” rating and set a $35.00 price objective on shares of Lovesac in a research report on Friday, April 11th. DA Davidson cut their price objective on Lovesac from $35.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Roth Mkm raised their price objective on Lovesac from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Finally, Canaccord Genuity Group cut their price objective on Lovesac from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $31.67.

Lovesac Trading Up 3.1%

Shares of NASDAQ:LOVE opened at $19.81 on Friday. The company has a market capitalization of $294.08 million, a price-to-earnings ratio of 58.26, a PEG ratio of 0.65 and a beta of 2.48. The business has a 50-day moving average price of $18.98 and a 200 day moving average price of $22.90. The Lovesac Company has a 12-month low of $12.12 and a 12-month high of $39.49.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, April 10th. The company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.33. The company had revenue of $241.50 million during the quarter, compared to the consensus estimate of $230.33 million. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. Lovesac’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.87 EPS. As a group, equities research analysts predict that The Lovesac Company will post 0.39 earnings per share for the current fiscal year.

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.