Versor Investments LP Raises Stock Position in The Lovesac Company (NASDAQ:LOVE)

Versor Investments LP lifted its stake in The Lovesac Company (NASDAQ:LOVE) by 58.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,086 shares of the company’s stock after buying an additional 5,186 shares during the period. Versor Investments LP owned approximately 0.09% of Lovesac worth $333,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in Lovesac by 2,765.0% in the third quarter. International Assets Investment Management LLC now owns 11,460 shares of the company’s stock valued at $328,000 after acquiring an additional 11,060 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Lovesac by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 49,284 shares of the company’s stock valued at $1,412,000 after purchasing an additional 2,412 shares during the last quarter. BCGM Wealth Management LLC boosted its position in shares of Lovesac by 0.8% in the 3rd quarter. BCGM Wealth Management LLC now owns 134,364 shares of the company’s stock valued at $3,850,000 after purchasing an additional 1,023 shares during the period. Senvest Management LLC grew its stake in Lovesac by 47.3% during the 3rd quarter. Senvest Management LLC now owns 943,022 shares of the company’s stock worth $27,018,000 after buying an additional 302,643 shares during the last quarter. Finally, Millrace Asset Group Inc. increased its position in Lovesac by 63.0% during the third quarter. Millrace Asset Group Inc. now owns 68,503 shares of the company’s stock worth $1,963,000 after buying an additional 26,481 shares during the period. 91.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LOVE has been the topic of a number of research reports. Canaccord Genuity Group raised their target price on shares of Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. DA Davidson decreased their price target on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Finally, Roth Mkm lifted their price objective on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $38.33.

Lovesac Stock Performance

Shares of LOVE opened at $19.53 on Tuesday. The stock has a market capitalization of $301.41 million, a P/E ratio of 57.44, a P/E/G ratio of 0.65 and a beta of 3.02. The Lovesac Company has a 1 year low of $18.21 and a 1 year high of $39.49. The company’s fifty day moving average is $24.30 and its two-hundred day moving average is $27.00.

Lovesac (NASDAQ:LOVE) last issued its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.02. The business had revenue of $149.90 million for the quarter, compared to the consensus estimate of $155.26 million. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. Sell-side analysts predict that The Lovesac Company will post 0.39 EPS for the current year.

Insiders Place Their Bets

In related news, Director Albert Jack Krause sold 30,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $26.33, for a total transaction of $789,900.00. Following the transaction, the director now owns 147,849 shares of the company’s stock, valued at $3,892,864.17. This represents a 16.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Walter Field Mclallen acquired 4,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was acquired at an average price of $24.68 per share, with a total value of $98,720.00. Following the transaction, the director now directly owns 23,540 shares of the company’s stock, valued at $580,967.20. This represents a 20.47 % increase in their position. The disclosure for this purchase can be found here. 12.33% of the stock is currently owned by insiders.

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.