The Lovesac Company (NASDAQ:LOVE) Given Average Recommendation of “Buy” by Brokerages

Shares of The Lovesac Company (NASDAQ:LOVE) have been assigned a consensus rating of “Buy” from the six brokerages that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $38.33.

Several research firms have recently commented on LOVE. DA Davidson reissued a “buy” rating and issued a $35.00 price target on shares of Lovesac in a research report on Tuesday, March 25th. Roth Mkm boosted their target price on shares of Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Canaccord Genuity Group lifted their price objective on shares of Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd.

Lovesac Price Performance

Shares of Lovesac stock opened at $18.18 on Tuesday. The stock has a market cap of $280.57 million, a price-to-earnings ratio of 53.47, a PEG ratio of 0.65 and a beta of 3.05. The firm’s 50-day moving average is $21.10 and its two-hundred day moving average is $26.18. Lovesac has a 1 year low of $15.22 and a 1 year high of $39.49.

Insider Transactions at Lovesac

In other news, Director Albert Jack Krause sold 30,000 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $26.33, for a total value of $789,900.00. Following the sale, the director now owns 147,849 shares in the company, valued at $3,892,864.17. This 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 available through the SEC website. Company insiders own 12.33% of the company’s stock.

Hedge Funds Weigh In On Lovesac

Institutional investors have recently made changes to their positions in the company. Heck Capital Advisors LLC purchased a new position in Lovesac in the fourth quarter valued at $26,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Lovesac during the 4th quarter valued at about $49,000. AlphaQuest LLC purchased a new position in shares of Lovesac in the 4th quarter valued at about $70,000. MetLife Investment Management LLC raised its holdings in Lovesac by 18.3% in the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock worth $218,000 after purchasing an additional 1,425 shares during the period. 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 owned by hedge funds and other 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.