Insider Selling: The Lovesac Company (NASDAQ:LOVE) Director Sells 30,000 Shares of Stock

The Lovesac Company (NASDAQ:LOVE) Director Albert Jack Krause sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $26.33, for a total transaction of $789,900.00. Following the completion of the sale, the director now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Lovesac Trading Down 1.5 %

Shares of NASDAQ LOVE opened at $25.86 on Thursday. The stock has a fifty day moving average price of $29.56 and a 200 day moving average price of $27.44. The company has a market cap of $399.02 million, a P/E ratio of 76.06, a P/E/G 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.

Lovesac (NASDAQ:LOVE) last posted its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.02. The business had revenue of $149.90 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.15) earnings per share. On average, sell-side analysts forecast that The Lovesac Company will post 0.39 EPS for the current fiscal year.

Institutional Trading of Lovesac

A number of hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Lovesac in the third quarter valued at $170,000. Franklin Resources Inc. acquired a new position in Lovesac in the 3rd quarter worth $231,000. Valeo Financial Advisors LLC purchased a new position in Lovesac in the 3rd quarter valued at about $242,000. Versor Investments LP acquired a new stake in shares of Lovesac during the third quarter valued at about $255,000. Finally, International Assets Investment Management LLC increased its position in shares of Lovesac by 2,765.0% during the third quarter. International Assets Investment Management LLC now owns 11,460 shares of the company’s stock worth $328,000 after acquiring an additional 11,060 shares during the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LOVE. Roth Mkm lifted their price target on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. DA Davidson lowered their price target on Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Finally, Canaccord Genuity Group raised their price objective on Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $38.33.

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.