Arrowstreet Capital Limited Partnership Buys 24,559 Shares of The Lovesac Company (NASDAQ:LOVE)

Arrowstreet Capital Limited Partnership lifted its stake in The Lovesac Company (NASDAQ:LOVE) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 279,682 shares of the company’s stock after acquiring an additional 24,559 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.81% of Lovesac worth $6,617,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in LOVE. Bank of New York Mellon Corp grew its position in Lovesac by 9.3% in the 4th quarter. Bank of New York Mellon Corp now owns 489,613 shares of the company’s stock worth $11,584,000 after purchasing an additional 41,751 shares during the period. American Century Companies Inc. grew its holdings in shares of Lovesac by 15.0% in the fourth quarter. American Century Companies Inc. now owns 436,790 shares of the company’s stock worth $10,334,000 after acquiring an additional 56,989 shares during the period. Geode Capital Management LLC increased its position in Lovesac by 1.2% during the third quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock valued at $9,634,000 after acquiring an additional 3,979 shares during the last quarter. State Street Corp lifted its holdings in Lovesac by 1.7% in the third quarter. State Street Corp now owns 299,081 shares of the company’s stock valued at $8,569,000 after acquiring an additional 5,124 shares during the period. Finally, MML Investors Services LLC boosted its position in Lovesac by 46.9% in the third quarter. MML Investors Services LLC now owns 138,893 shares of the company’s stock worth $3,979,000 after purchasing an additional 44,358 shares during the last quarter. 91.32% of the stock is owned by hedge funds and other institutional investors.

Lovesac Stock Performance

LOVE opened at $13.14 on Tuesday. The Lovesac Company has a fifty-two week low of $12.97 and a fifty-two week high of $39.49. The stock has a market cap of $202.79 million, a price-to-earnings ratio of 38.65, a price-to-earnings-growth ratio of 0.65 and a beta of 3.08. The firm’s fifty day moving average is $20.10 and its 200 day moving average is $25.80.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LOVE shares. Roth Mkm increased their price objective on shares of Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. DA Davidson reissued a “buy” rating and set a $35.00 price objective on shares of Lovesac in a research report on Tuesday, March 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $38.33.

Insider Transactions at Lovesac

In other news, Director Albert Jack Krause sold 30,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $26.33, for a total value 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.33% of the company’s stock.

Lovesac 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.