The Lovesac Company (NASDAQ:LOVE) Receives Average Rating of “Buy” from Analysts

The Lovesac Company (NASDAQ:LOVE) has been given an average rating of “Buy” by the six analysts that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $38.33.

A number of research analysts recently issued reports on LOVE shares. DA Davidson reiterated a “buy” rating and issued a $35.00 price target on shares of Lovesac in a research note on Tuesday, March 25th. Roth Mkm boosted their target price 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.

Insider Transactions at Lovesac

In other news, Director Albert Jack Krause sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Lovesac by 1.7% during the third quarter. State Street Corp now owns 299,081 shares of the company’s stock worth $8,569,000 after acquiring an additional 5,124 shares during the last quarter. Jane Street Group LLC grew its position in Lovesac by 74.4% during the 3rd quarter. Jane Street Group LLC now owns 80,776 shares of the company’s stock worth $2,314,000 after purchasing an additional 34,451 shares during the last quarter. XTX Topco Ltd acquired a new position in Lovesac in the third quarter valued at $381,000. Anson Funds Management LP raised its holdings in shares of Lovesac by 13.9% in the third quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock valued at $23,332,000 after buying an additional 99,651 shares during the last quarter. Finally, MML Investors Services LLC boosted its stake in shares of Lovesac by 46.9% during the third quarter. MML Investors Services LLC now owns 138,893 shares of the company’s stock worth $3,979,000 after buying an additional 44,358 shares during the period. Institutional investors and hedge funds own 91.32% of the company’s stock.

Lovesac Price Performance

LOVE stock opened at $13.14 on Tuesday. Lovesac has a 1 year low of $12.97 and a 1 year high of $39.49. The firm has a market capitalization of $202.79 million, a P/E ratio of 38.65, a P/E/G ratio of 0.65 and a beta of 3.08. The business’s 50-day moving average is $20.10 and its two-hundred day moving average is $25.80.

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.