Lovesac (NASDAQ:LOVE) Price Target Raised to $31.00 at Roth Mkm

Lovesac (NASDAQ:LOVE) had its price target raised by Roth Mkm from $30.00 to $31.00 in a research note published on Friday, Benzinga reports. Roth Mkm currently has a buy rating on the stock.

LOVE has been the subject of several other reports. Canaccord Genuity Group reiterated a buy rating and issued a $36.00 target price on shares of Lovesac in a research note on Friday, June 14th. DA Davidson raised their price objective on Lovesac from $24.00 to $32.00 and gave the company a buy rating in a research report on Friday, June 14th. Finally, Maxim Group boosted their target price on Lovesac from $36.00 to $38.00 and gave the stock a buy rating in a report on Monday, June 17th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Lovesac presently has an average rating of Buy and an average price target of $34.50.

Lovesac Stock Performance

Shares of NASDAQ LOVE opened at $26.25 on Friday. The stock has a 50 day moving average price of $24.70 and a 200 day moving average price of $23.97. The stock has a market capitalization of $408.21 million, a PE ratio of 30.88, a price-to-earnings-growth ratio of 0.55 and a beta of 2.90. Lovesac has a 52 week low of $14.18 and a 52 week high of $30.39.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings data on Thursday, June 13th. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.99) by $0.16. The company had revenue of $132.64 million during the quarter, compared to the consensus estimate of $128.20 million. Lovesac had a return on equity of 7.55% and a net margin of 2.17%. As a group, research analysts forecast that Lovesac will post 1.09 EPS for the current year.

Insider Transactions at Lovesac

In related news, CEO Shawn David Nelson sold 18,988 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $23.33, for a total value of $442,990.04. Following the completion of the sale, the chief executive officer now directly owns 165,855 shares in the company, valued at $3,869,397.15. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 12.33% of the company’s stock.

Institutional Investors Weigh In On Lovesac

Several institutional investors and hedge funds have recently bought and sold shares of LOVE. EntryPoint Capital LLC bought a new position in Lovesac in the 1st quarter valued at about $39,000. Meeder Asset Management Inc. bought a new position in Lovesac in the second quarter valued at approximately $43,000. Quest Partners LLC raised its position in Lovesac by 797.6% during the second quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock valued at $194,000 after purchasing an additional 7,617 shares in the last quarter. SG Americas Securities LLC lifted its stake in Lovesac by 106.1% during the first quarter. SG Americas Securities LLC now owns 9,376 shares of the company’s stock worth $212,000 after purchasing an additional 4,826 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Lovesac by 8.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock valued at $218,000 after purchasing an additional 726 shares in the last quarter. Institutional investors own 91.32% of the company’s stock.

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.