Albert Jack Krause Sells 30,000 Shares of The Lovesac Company (NASDAQ:LOVE) Stock

The Lovesac Company (NASDAQ:LOVE) Director Albert Jack Krause sold 30,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $26.33, for a total value of $789,900.00. Following the completion of the sale, the director now directly owns 147,849 shares of the company’s stock, valued at approximately $3,892,864.17. This trade represents a 16.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Lovesac Stock Down 0.2 %

Shares of NASDAQ:LOVE opened at $25.80 on Friday. The firm has a market cap of $398.09 million, a price-to-earnings ratio of 75.88, a PEG ratio of 1.92 and a beta of 3.04. The Lovesac Company has a 12 month low of $18.21 and a 12 month high of $39.49. The company’s fifty day simple moving average is $29.45 and its 200 day simple moving average is $27.43.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.02. The firm had revenue of $149.90 million for the quarter, compared to the consensus estimate of $155.26 million. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.15) EPS. Research analysts expect that The Lovesac Company will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. DA Davidson lowered their target price on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Roth Mkm upped their price objective on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Canaccord Genuity Group lifted their target price on Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lovesac currently has a consensus rating of “Buy” and a consensus price target of $38.33.

Institutional Investors Weigh In On Lovesac

Institutional investors have recently bought and sold shares of the company. Rhumbline Advisers raised its holdings in shares of Lovesac by 12.4% in the second quarter. Rhumbline Advisers now owns 22,199 shares of the company’s stock valued at $501,000 after purchasing an additional 2,449 shares during the last quarter. American Century Companies Inc. increased its stake in Lovesac by 78.6% in the 2nd quarter. American Century Companies Inc. now owns 291,579 shares of the company’s stock valued at $6,584,000 after buying an additional 128,285 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Lovesac by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock worth $17,951,000 after buying an additional 26,872 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Lovesac during the 2nd quarter worth about $4,328,000. Finally, SG Americas Securities LLC acquired a new position in shares of Lovesac during the 3rd quarter worth about $170,000. 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.