BCGM Wealth Management LLC Has $3.85 Million Holdings in The Lovesac Company (NASDAQ:LOVE)

BCGM Wealth Management LLC grew its position in shares of The Lovesac Company (NASDAQ:LOVE) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,364 shares of the company’s stock after buying an additional 1,023 shares during the quarter. Lovesac makes up about 1.2% of BCGM Wealth Management LLC’s investment portfolio, making the stock its 24th biggest position. BCGM Wealth Management LLC owned 0.86% of Lovesac worth $3,850,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of LOVE. Dimensional Fund Advisors LP increased its holdings in Lovesac by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock valued at $17,951,000 after purchasing an additional 26,872 shares in the last quarter. Hood River Capital Management LLC raised its holdings in shares of Lovesac by 8.8% in the second quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock valued at $17,477,000 after buying an additional 62,615 shares during the last quarter. Roubaix Capital LLC acquired a new position in Lovesac during the 3rd quarter worth about $4,520,000. Wesbanco Bank Inc. bought a new stake in Lovesac during the 2nd quarter worth about $305,000. Finally, Russell Investments Group Ltd. increased its position in Lovesac by 12.8% in the 1st quarter. Russell Investments Group Ltd. now owns 13,966 shares of the company’s stock valued at $316,000 after acquiring an additional 1,584 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

Lovesac Trading Up 0.1 %

NASDAQ LOVE opened at $31.02 on Friday. The Lovesac Company has a 12 month low of $18.00 and a 12 month high of $32.42. The stock has a 50-day simple moving average of $27.76 and a 200 day simple moving average of $25.93. The company has a market capitalization of $482.67 million, a PE ratio of 60.82, a P/E/G ratio of 0.82 and a beta of 2.91.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings results on Thursday, September 12th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.08. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The company had revenue of $156.59 million during the quarter, compared to analysts’ expectations of $154.01 million. As a group, sell-side analysts predict that The Lovesac Company will post 1.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lovesac news, Director Albert Jack Krause sold 10,000 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total value of $262,200.00. Following the completion of the sale, the director now directly owns 177,849 shares in the company, valued at $4,663,200.78. This represents a 5.32 % decrease in their ownership of the stock. The sale 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.

Analysts Set New Price Targets

Several research firms have recently commented on LOVE. Roth Mkm increased their price target on shares of Lovesac from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Craig Hallum lifted their target price on Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, September 13th. DA Davidson reaffirmed a “buy” rating and set a $32.00 price target on shares of Lovesac in a research note on Thursday, October 3rd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $36.00 price objective on shares of Lovesac in a research report on Friday, September 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $34.50.

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.