Short Interest in The Lovesac Company (NASDAQ:LOVE) Rises By 25.6%

The Lovesac Company (NASDAQ:LOVE) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 3,870,000 shares, an increase of 25.6% from the February 28th total of 3,080,000 shares. Based on an average daily trading volume, of 382,000 shares, the days-to-cover ratio is currently 10.1 days. Approximately 27.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LOVE. Roth Mkm increased their price target on Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. DA Davidson reiterated a “buy” rating and set a $35.00 target price on shares of Lovesac in a research report on Tuesday, March 25th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Lovesac presently has an average rating of “Buy” and an average price target of $38.33.

Lovesac Price Performance

NASDAQ LOVE opened at $18.26 on Thursday. The business has a fifty day moving average price of $20.78 and a two-hundred day moving average price of $26.07. The stock has a market capitalization of $281.81 million, a PE ratio of 53.71, a PEG ratio of 0.65 and a beta of 3.05. Lovesac has a fifty-two week low of $15.22 and a fifty-two week high of $39.49.

Insider Buying and Selling at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 30,000 shares of the 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 transaction, the director now owns 147,849 shares in the company, valued at $3,892,864.17. This represents a 16.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.33% of the company’s stock.

Institutional Trading of Lovesac

Institutional investors and hedge funds have recently modified their holdings of the business. Heck Capital Advisors LLC acquired a new position in Lovesac during the fourth quarter worth about $26,000. Cubist Systematic Strategies LLC bought a new stake in shares of Lovesac during the 4th quarter valued at approximately $49,000. AlphaQuest LLC acquired a new position in Lovesac during the 4th quarter worth approximately $70,000. MetLife Investment Management LLC lifted its stake in Lovesac by 18.3% in the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock valued at $218,000 after purchasing an additional 1,425 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in Lovesac in the third quarter valued at approximately $231,000. 91.32% of the stock is currently owned by institutional investors.

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.