BCGM Wealth Management LLC Buys 1,615 Shares of The Lovesac Company (NASDAQ:LOVE)

BCGM Wealth Management LLC increased its stake in shares of The Lovesac Company (NASDAQ:LOVE) by 1.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 135,979 shares of the company’s stock after purchasing an additional 1,615 shares during the quarter. Lovesac accounts for approximately 1.0% of BCGM Wealth Management LLC’s portfolio, making the stock its 29th largest position. BCGM Wealth Management LLC’s holdings in Lovesac were worth $3,217,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Senvest Management LLC grew its holdings in shares of Lovesac by 47.3% in the third quarter. Senvest Management LLC now owns 943,022 shares of the company’s stock worth $27,018,000 after purchasing an additional 302,643 shares during the last quarter. Anson Funds Management LP grew its holdings in Lovesac by 13.9% in the 3rd quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock worth $23,332,000 after acquiring an additional 99,651 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Lovesac by 1.2% in the third quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock valued at $9,634,000 after acquiring an additional 3,979 shares during the period. State Street Corp raised its stake in shares of Lovesac by 1.7% during the third quarter. State Street Corp now owns 299,081 shares of the company’s stock valued at $8,569,000 after acquiring an additional 5,124 shares during the last quarter. Finally, Roubaix Capital LLC purchased a new stake in shares of Lovesac during the third quarter worth about $4,520,000. 91.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Lovesac

In related news, Director Albert Jack Krause sold 30,000 shares of the firm’s 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Walter Field Mclallen purchased 4,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were bought at an average cost of $24.68 per share, with a total value of $98,720.00. Following the acquisition, the director now directly owns 23,540 shares of the company’s stock, valued at $580,967.20. This trade represents a 20.47 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 12.33% of the company’s stock.

Lovesac Stock Performance

Shares of NASDAQ:LOVE opened at $21.65 on Monday. The firm has a market capitalization of $334.06 million, a P/E ratio of 63.68, a P/E/G ratio of 0.65 and a beta of 3.02. The stock has a 50 day moving average price of $24.67 and a 200-day moving average price of $27.05. The Lovesac Company has a 52-week low of $18.21 and a 52-week high of $39.49.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The company had revenue of $149.90 million for the quarter, compared to analysts’ expectations of $155.26 million. During the same quarter in the previous year, the business posted ($0.15) EPS. Lovesac’s revenue was down 2.7% compared to the same quarter last year. On average, equities analysts forecast that The Lovesac Company will post 0.39 EPS for the current fiscal year.

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.