Insider Selling: The Lovesac Company (NASDAQ:LOVE) Director Sells $262,200.00 in Stock

The Lovesac Company (NASDAQ:LOVE) Director Albert Jack Krause sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total value of $262,200.00. Following the transaction, the director now owns 177,849 shares in the company, valued at $4,663,200.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Lovesac Trading Up 0.6 %

Shares of Lovesac stock opened at $25.63 on Friday. The company has a 50-day moving average of $24.68 and a two-hundred day moving average of $24.46. The Lovesac Company has a 12-month low of $14.18 and a 12-month high of $30.39. The stock has a market cap of $398.57 million, a PE ratio of 30.15, a price-to-earnings-growth ratio of 0.71 and a beta of 2.91.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LOVE. Roth Mkm increased their price target on shares of Lovesac from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Maxim Group raised their price target on Lovesac from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $36.00 price objective on shares of Lovesac in a research report on Friday, September 13th. Craig Hallum upped their price target on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $32.00 target price on shares of Lovesac in a report on Thursday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lovesac has an average rating of “Buy” and an average price target of $34.50.

Institutional Investors Weigh In On Lovesac

A number of institutional investors and hedge funds have recently modified their holdings of LOVE. CastleKnight Management LP boosted its position in Lovesac by 251.3% during the fourth quarter. CastleKnight Management LP now owns 40,400 shares of the company’s stock worth $1,032,000 after purchasing an additional 28,900 shares in the last quarter. LSV Asset Management acquired a new position in shares of Lovesac during the 1st quarter worth $988,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Lovesac in the 1st quarter worth about $489,000. Virtu Financial LLC acquired a new stake in Lovesac in the 4th quarter valued at about $340,000. Finally, Hood River Capital Management LLC increased its holdings in Lovesac by 8.8% during the 2nd quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock valued at $17,477,000 after acquiring an additional 62,615 shares in the last quarter. Institutional investors and hedge funds 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.