Lovesac (NASDAQ:LOVE) Earns “Buy” Rating from DA Davidson

DA Davidson restated their buy rating on shares of Lovesac (NASDAQ:LOVE) in a report released on Tuesday morning,Benzinga reports. DA Davidson currently has a $35.00 target price on the stock.

Other analysts also recently issued research reports about the company. Roth Mkm upped their target price on Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group boosted their target price on shares of Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Lovesac currently has a consensus rating of “Buy” and an average price target of $38.33.

Lovesac Price Performance

NASDAQ:LOVE opened at $18.35 on Tuesday. The company’s fifty day moving average price is $21.71 and its 200-day moving average price is $26.28. Lovesac has a 1-year low of $15.22 and a 1-year high of $39.49. The firm has a market capitalization of $283.20 million, a P/E ratio of 53.97, a PEG ratio of 0.65 and a beta of 3.05.

Insider Buying and Selling at Lovesac

In other news, Director Albert Jack Krause sold 30,000 shares of the business’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 completion of the sale, the director now owns 147,849 shares of the company’s stock, valued at $3,892,864.17. The trade was a 16.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lovesac

Institutional investors have recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new position in shares of Lovesac during the fourth quarter valued at approximately $26,000. Cubist Systematic Strategies LLC acquired a new position in Lovesac in the 4th quarter valued at $49,000. AlphaQuest LLC purchased a new position in Lovesac in the 4th quarter valued at $70,000. Franklin Resources Inc. acquired a new stake in Lovesac during the 3rd quarter worth $231,000. Finally, MetLife Investment Management LLC boosted its stake in Lovesac by 18.3% during the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock worth $218,000 after purchasing an additional 1,425 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

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.