Hood River Capital Management LLC Purchases 59,231 Shares of The Lovesac Company (NASDAQ:LOVE)

Hood River Capital Management LLC raised its position in The Lovesac Company (NASDAQ:LOVE) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 986,947 shares of the company’s stock after acquiring an additional 59,231 shares during the period. Hood River Capital Management LLC owned about 6.40% of Lovesac worth $23,351,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. State Street Corp raised its stake in shares of 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 purchasing an additional 5,124 shares in the last quarter. Barclays PLC raised its stake in shares of Lovesac by 312.7% in the 3rd quarter. Barclays PLC now owns 20,312 shares of the company’s stock valued at $583,000 after buying an additional 15,390 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Lovesac by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock valued at $9,634,000 after buying an additional 3,979 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Lovesac during the 3rd quarter worth about $231,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Lovesac by 76.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,510 shares of the company’s stock valued at $960,000 after acquiring an additional 14,480 shares in the last quarter. Institutional investors own 91.32% of the company’s stock.

Analyst Upgrades and Downgrades

LOVE has been the subject of a number of analyst reports. Canaccord Genuity Group cut their price target on shares of Lovesac from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, April 11th. DA Davidson cut their target price on Lovesac from $35.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Oppenheimer reiterated an “outperform” rating and issued a $35.00 price target on shares of Lovesac in a research report on Friday, April 11th. Finally, Roth Mkm lifted their price objective on Lovesac from $22.00 to $28.00 and gave the company a “buy” rating in a report on Friday, April 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $31.67.

Lovesac Stock Performance

Shares of NASDAQ:LOVE opened at $20.20 on Wednesday. The business has a fifty day moving average of $18.52 and a 200-day moving average of $24.99. The Lovesac Company has a twelve month low of $12.12 and a twelve month high of $39.49. The firm has a market cap of $298.84 million, a PE ratio of 59.41, a price-to-earnings-growth ratio of 0.65 and a beta of 3.08.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings data on Thursday, April 10th. The company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.33. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The firm had revenue of $241.50 million during the quarter, compared to analysts’ expectations of $230.33 million. During the same quarter last year, the company posted $1.87 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts anticipate that The Lovesac Company will post 0.39 EPS for the current fiscal year.

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.