The Lovesac Company (NASDAQ:LOVE) Position Trimmed by Connors Investor Services Inc.

Connors Investor Services Inc. trimmed its holdings in shares of The Lovesac Company (NASDAQ:LOVE) by 3.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,848 shares of the company’s stock after selling 2,526 shares during the period. Connors Investor Services Inc. owned about 0.51% of Lovesac worth $1,780,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in Lovesac by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock worth $17,951,000 after buying an additional 26,872 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Lovesac in the 2nd quarter worth approximately $43,000. American Century Companies Inc. raised its holdings in shares of Lovesac by 78.6% during the 2nd quarter. American Century Companies Inc. now owns 291,579 shares of the company’s stock valued at $6,584,000 after purchasing an additional 128,285 shares in the last quarter. Quest Partners LLC raised its holdings in shares of Lovesac by 797.6% during the 2nd 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. Finally, Rhumbline Advisers raised its holdings in shares of Lovesac by 12.4% during the 2nd quarter. Rhumbline Advisers now owns 22,199 shares of the company’s stock valued at $501,000 after purchasing an additional 2,449 shares in the last quarter. 91.32% of the stock is currently owned by institutional investors.

Lovesac Stock Up 0.4 %

Lovesac stock opened at $26.35 on Tuesday. The Lovesac Company has a twelve month low of $14.18 and a twelve month high of $30.39. The company has a 50 day moving average of $24.70 and a 200-day moving average of $23.98. The stock has a market capitalization of $409.77 million, a PE ratio of 31.00, a price-to-earnings-growth ratio of 0.55 and a beta of 2.90.

Insiders Place Their Bets

In other Lovesac 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 sale, the chief executive officer now owns 165,855 shares in the company, valued at approximately $3,869,397.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on LOVE. Maxim Group raised their target price on shares of Lovesac from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, June 17th. DA Davidson raised their target price on shares of Lovesac from $24.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Craig Hallum raised their target price on shares of Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday. Roth Mkm raised their price target on shares of Lovesac from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $36.00 price target on shares of Lovesac in a research report on Friday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Lovesac currently has an average rating of “Buy” and a consensus price target of $34.50.

Lovesac 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.