Lovesac (NASDAQ:LOVE) Hits New 1-Year High – Here’s Why

The Lovesac Company (NASDAQ:LOVE) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $37.14 and last traded at $37.07, with a volume of 52581 shares traded. The stock had previously closed at $34.71.

Wall Street Analyst Weigh In

Several research firms have issued reports on LOVE. DA Davidson restated a “buy” rating and issued a $32.00 price target on shares of Lovesac in a research report on Thursday, October 3rd. Roth Mkm boosted their target price on Lovesac from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Canaccord Genuity Group reiterated a “buy” rating and issued a $36.00 price target on shares of Lovesac in a research report on Friday, September 13th. Finally, Craig Hallum boosted their price objective on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $35.17.

Lovesac Stock Up 10.8 %

The stock has a market capitalization of $598.59 million, a price-to-earnings ratio of 73.59, a price-to-earnings-growth ratio of 0.91 and a beta of 2.91. The firm has a 50-day moving average of $28.82 and a two-hundred day moving average of $26.31.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings results on Thursday, September 12th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.08. The business had revenue of $156.59 million during the quarter, compared to analysts’ expectations of $154.01 million. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. As a group, sell-side analysts predict that The Lovesac Company will post 1.09 EPS for the current year.

Insider Transactions at Lovesac

In other news, Director Albert Jack Krause sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total transaction of $262,200.00. Following the transaction, the director now owns 177,849 shares in the company, valued at approximately $4,663,200.78. This trade represents a 5.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.33% of the company’s stock.

Institutional Investors Weigh In On Lovesac

A number of large investors have recently bought and sold shares of LOVE. Dimensional Fund Advisors LP grew its holdings in Lovesac by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock valued at $17,951,000 after purchasing an additional 26,872 shares during the last quarter. Hood River Capital Management LLC increased its stake in shares of Lovesac by 8.8% in the second quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock worth $17,477,000 after purchasing an additional 62,615 shares during the period. Roubaix Capital LLC acquired a new position in shares of Lovesac during the 3rd quarter worth about $4,520,000. Wesbanco Bank Inc. bought a new stake in Lovesac during the 2nd quarter valued at approximately $305,000. Finally, Russell Investments Group Ltd. grew its holdings in Lovesac by 12.8% in the 1st quarter. Russell Investments Group Ltd. now owns 13,966 shares of the company’s stock valued at $316,000 after buying an additional 1,584 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors.

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.