Insider Buying: The Lovesac Company (NASDAQ:LOVE) Director Acquires 1,000 Shares of Stock

The Lovesac Company (NASDAQ:LOVE) Director Walter Field Mclallen acquired 1,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $23.80 per share, with a total value of $23,800.00. Following the completion of the acquisition, the director now directly owns 24,540 shares of the company’s stock, valued at approximately $584,052. This represents a 4.25 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Walter Field Mclallen also recently made the following trade(s):

• On Friday, December 20th, Walter Field Mclallen bought 4,000 shares of Lovesac stock. The stock was purchased at an average price of $24.68 per share, with a total value of $98,720.00.

Lovesac Stock Performance

LOVE traded down $0.05 during trading on Monday, reaching $23.88. The company had a trading volume of 252,578 shares, compared to its average volume of 309,785. The Lovesac Company has a 12-month low of $18.21 and a 12-month high of $39.49. The company has a market cap of $368.54 million, a price-to-earnings ratio of 46.82, a PEG ratio of 0.99 and a beta of 2.97. The firm’s 50-day simple moving average is $31.56 and its 200 day simple moving average is $27.19.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.02. The business had revenue of $149.90 million for the quarter, compared to the consensus estimate of $155.26 million. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.15) earnings per share. On average, sell-side analysts expect that The Lovesac Company will post 1.09 EPS for the current year.

Wall Street Analysts Forecast Growth

LOVE has been the topic of a number of research reports. Craig Hallum boosted their price objective on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. DA Davidson cut their price target on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a report on Friday, December 13th. Roth Mkm lifted their price objective 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. Finally, Canaccord Genuity Group increased their target price on shares of Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Lovesac presently has a consensus rating of “Buy” and an average target price of $38.33.

Institutional Trading of Lovesac

A number of hedge funds have recently modified their holdings of the business. Senvest Management LLC grew its holdings in shares of Lovesac by 47.3% during the third quarter. Senvest Management LLC now owns 943,022 shares of the company’s stock valued at $27,018,000 after buying an additional 302,643 shares in the last quarter. Anson Funds Management LP increased its holdings in shares of Lovesac by 13.9% in the 3rd quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock valued at $23,332,000 after purchasing an additional 99,651 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Lovesac by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock worth $17,951,000 after purchasing an additional 26,872 shares during the period. Hood River Capital Management LLC grew its position in Lovesac by 8.8% during the second quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock valued at $17,477,000 after purchasing an additional 62,615 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Lovesac by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock valued at $9,634,000 after buying an additional 3,979 shares during the period. Hedge funds and other institutional investors own 91.32% of the company’s stock.

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.