Federated Hermes Inc. Sells 15,000 Shares of The Lovesac Company (NASDAQ:LOVE)

Federated Hermes Inc. cut its position in shares of The Lovesac Company (NASDAQ:LOVE) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 510,000 shares of the company’s stock after selling 15,000 shares during the quarter. Federated Hermes Inc. owned 3.31% of Lovesac worth $12,067,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Jane Street Group LLC grew its stake in Lovesac by 74.4% in the third quarter. Jane Street Group LLC now owns 80,776 shares of the company’s stock valued at $2,314,000 after purchasing an additional 34,451 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Lovesac by 76.1% in the third quarter. JPMorgan Chase & Co. now owns 33,510 shares of the company’s stock valued at $960,000 after purchasing an additional 14,480 shares in the last quarter. Franklin Resources Inc. bought a new position in Lovesac in the third quarter valued at approximately $231,000. Bank of New York Mellon Corp grew its stake in Lovesac by 9.3% in the fourth quarter. Bank of New York Mellon Corp now owns 489,613 shares of the company’s stock valued at $11,584,000 after purchasing an additional 41,751 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Lovesac by 15.0% in the fourth quarter. American Century Companies Inc. now owns 436,790 shares of the company’s stock valued at $10,334,000 after purchasing an additional 56,989 shares in the last quarter. 91.32% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 30,000 shares of Lovesac stock in a transaction on Friday, January 17th. The stock was sold at an average price of $26.33, for a total value of $789,900.00. Following the completion of the transaction, the director now directly owns 147,849 shares of the company’s stock, valued at $3,892,864.17. The trade was a 16.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.33% of the company’s stock.

Lovesac Price Performance

Shares of NASDAQ LOVE opened at $15.93 on Thursday. The stock has a market capitalization of $245.85 million, a PE ratio of 46.85, a P/E/G ratio of 0.65 and a beta of 3.08. The business has a fifty day moving average price of $19.18 and a two-hundred day moving average price of $25.47. The Lovesac Company has a fifty-two week low of $12.12 and a fifty-two week high of $39.49.

Analyst Ratings Changes

Separately, DA Davidson restated a “buy” rating and issued a $35.00 price target on shares of Lovesac in a research note on Tuesday, March 25th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lovesac currently has a consensus rating of “Buy” and an average target price of $38.33.

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.