Insider Buying: The Lovesac Company (NASDAQ:LOVE) Director Acquires 4,000 Shares of Stock

The Lovesac Company (NASDAQ:LOVE) Director Walter Field Mclallen acquired 4,000 shares of Lovesac stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average cost of $24.68 per share, with a total value of $98,720.00. Following the purchase, the director now owns 23,540 shares in the company, valued at $580,967.20. The trade was a 20.47 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Walter Field Mclallen also recently made the following trade(s):

• On Monday, December 23rd, Walter Field Mclallen purchased 1,000 shares of Lovesac stock. The shares were bought at an average price of $23.80 per share, with a total value of $23,800.00.

Lovesac Stock Performance

Shares of LOVE stock traded down $0.05 during mid-day trading on Monday, reaching $23.88. The company’s stock had a trading volume of 252,578 shares, compared to its average volume of 309,785. The firm’s 50-day moving average is $31.56 and its two-hundred day moving average is $27.19. The Lovesac Company has a 1-year low of $18.21 and a 1-year high of $39.49. The company has a market cap of $368.54 million, a P/E ratio of 46.82, a PEG ratio of 0.99 and a beta of 2.97.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.02. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The company had revenue of $149.90 million for the quarter, compared to the consensus estimate of $155.26 million. During the same period in the previous year, the business earned ($0.15) earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. Sell-side analysts anticipate that The Lovesac Company will post 1.09 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. acquired a new stake in Lovesac during the 3rd quarter valued at $231,000. Barclays PLC increased its stake in shares of Lovesac by 312.7% in the third quarter. Barclays PLC now owns 20,312 shares of the company’s stock valued at $583,000 after buying an additional 15,390 shares in the last quarter. Soltis Investment Advisors LLC raised its holdings in shares of Lovesac by 8.8% in the third quarter. Soltis Investment Advisors LLC now owns 86,170 shares of the company’s stock valued at $2,469,000 after buying an additional 6,988 shares during the last quarter. Geode Capital Management LLC lifted its position in Lovesac by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 336,210 shares of the company’s stock worth $9,634,000 after buying an additional 3,979 shares in the last quarter. Finally, MML Investors Services LLC grew its holdings in Lovesac by 46.9% during the 3rd quarter. MML Investors Services LLC now owns 138,893 shares of the company’s stock worth $3,979,000 after acquiring an additional 44,358 shares during the last quarter. 91.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LOVE shares. Canaccord Genuity Group boosted their price objective on shares of Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Craig Hallum upped their price target on shares of Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 13th. DA Davidson lowered their price target on Lovesac from $44.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Finally, Roth Mkm boosted their price objective on Lovesac from $35.00 to $42.00 and gave the stock 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.com, the company currently has an average rating of “Buy” and a consensus price target of $38.33.

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.