Lovesac’s (LOVE) “Buy” Rating Reiterated at DA Davidson

DA Davidson restated their buy rating on shares of Lovesac (NASDAQ:LOVE) in a report published on Tuesday,Benzinga reports. The brokerage currently has a $35.00 price objective on the stock.

Several other research analysts also recently weighed in on the stock. Roth Mkm upped their price objective on shares of Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Canaccord Genuity Group boosted their target price 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $38.33.

Lovesac Stock Down 0.6 %

Shares of NASDAQ:LOVE opened at $18.66 on Tuesday. Lovesac has a twelve month low of $15.22 and a twelve month high of $39.49. The stock’s 50 day moving average is $21.41 and its 200-day moving average is $26.18. The firm has a market capitalization of $287.98 million, a price-to-earnings ratio of 54.88, a PEG ratio of 0.65 and a beta of 3.05.

Insider Activity

In related news, Director Albert Jack Krause sold 30,000 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $26.33, for a total value of $789,900.00. Following the transaction, the director now directly owns 147,849 shares of the company’s stock, valued at approximately $3,892,864.17. The trade was a 16.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Lovesac

Several hedge funds have recently added to or reduced their stakes in LOVE. Heck Capital Advisors LLC purchased a new stake in shares of Lovesac during the 4th quarter worth approximately $26,000. Cubist Systematic Strategies LLC purchased a new stake in Lovesac in the fourth quarter worth $49,000. AlphaQuest LLC bought a new stake in shares of Lovesac in the fourth quarter valued at $70,000. MetLife Investment Management LLC lifted its position in shares of Lovesac by 18.3% during the 4th quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock valued at $218,000 after buying an additional 1,425 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in shares of Lovesac during the 3rd quarter worth $231,000. 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.