Insider Selling: The Lovesac Company (NASDAQ:LOVE) Director Sells $789,900.00 in Stock

The Lovesac Company (NASDAQ:LOVE) Director Albert Jack Krause sold 30,000 shares of the company’s stock in a transaction 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 directly owns 147,849 shares in the company, valued at $3,892,864.17. This trade represents a 16.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Lovesac Stock Up 0.2 %

Shares of Lovesac stock opened at $25.85 on Friday. The firm has a market cap of $398.87 million, a PE ratio of 76.03, a P/E/G ratio of 1.89 and a beta of 3.04. The business has a 50-day moving average price of $29.35 and a 200 day moving average price of $27.45. The Lovesac Company has a twelve month low of $18.21 and a twelve month high of $39.49.

Lovesac (NASDAQ:LOVE) last announced 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. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The business had revenue of $149.90 million during the quarter, compared to the consensus estimate of $155.26 million. During the same period in the prior year, the company posted ($0.15) EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts expect that The Lovesac Company will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Canaccord Genuity Group upped 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. DA Davidson lowered their target price on Lovesac from $44.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Finally, Roth Mkm lifted 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Lovesac has a consensus rating of “Buy” and a consensus price target of $38.33.

Hedge Funds Weigh In On Lovesac

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC purchased a new stake in shares of Lovesac during the fourth quarter worth about $26,000. Wesbanco Bank Inc. increased its stake in Lovesac by 100.0% during the 4th quarter. Wesbanco Bank Inc. now owns 27,000 shares of the company’s stock worth $639,000 after buying an additional 13,500 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Lovesac by 305.0% during the fourth quarter. SG Americas Securities LLC now owns 24,064 shares of the company’s stock valued at $569,000 after acquiring an additional 18,122 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Lovesac by 76.1% in the third quarter. JPMorgan Chase & Co. now owns 33,510 shares of the company’s stock valued at $960,000 after acquiring an additional 14,480 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of Lovesac in the third quarter valued at approximately $231,000. 91.32% of the stock is owned by hedge funds and other 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.