DA Davidson Reiterates Buy Rating for Lovesac (NASDAQ:LOVE)

Lovesac (NASDAQ:LOVE)‘s stock had its “buy” rating reissued by research analysts at DA Davidson in a report issued on Thursday, Benzinga reports. They currently have a $32.00 price objective on the stock. DA Davidson’s price objective would suggest a potential upside of 24.85% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. Craig Hallum increased their price objective on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Maxim Group increased their price objective on shares of Lovesac from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Canaccord Genuity Group reissued a “buy” rating and set a $36.00 price objective on shares of Lovesac in a research report on Friday, September 13th. Finally, Roth Mkm upped their target price on shares of Lovesac from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Lovesac presently has a consensus rating of “Buy” and a consensus price target of $34.50.

Lovesac Price Performance

LOVE stock opened at $25.63 on Thursday. The stock has a market capitalization of $398.57 million, a PE ratio of 30.15, a price-to-earnings-growth ratio of 0.71 and a beta of 2.90. The company’s 50-day moving average is $24.72 and its 200-day moving average is $24.42. Lovesac has a 1 year low of $14.18 and a 1 year high of $30.39.

Insider Buying and Selling at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 10,000 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total value of $262,200.00. Following the completion of the sale, the director now owns 177,849 shares in the company, valued at approximately $4,663,200.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 12.33% of the company’s stock.

Institutional Investors Weigh In On Lovesac

Several large investors have recently modified their holdings of the stock. EntryPoint Capital LLC bought a new position in Lovesac in the 1st quarter worth approximately $39,000. Meeder Asset Management Inc. bought a new position in Lovesac in the 2nd quarter valued at $43,000. SG Americas Securities LLC bought a new position in Lovesac in the 3rd quarter valued at $170,000. Quest Partners LLC boosted its holdings in Lovesac by 797.6% in the 2nd quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock valued at $194,000 after purchasing an additional 7,617 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Lovesac by 8.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock valued at $218,000 after purchasing an additional 726 shares during the period. Hedge funds and other institutional investors own 91.32% of the company’s stock.

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.