BCGM Wealth Management LLC Grows Position in The Lovesac Company $LOVE

BCGM Wealth Management LLC raised its stake in shares of The Lovesac Company (NASDAQ:LOVE) by 77.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 241,532 shares of the company’s stock after purchasing an additional 105,349 shares during the period. BCGM Wealth Management LLC’s holdings in Lovesac were worth $3,563,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Hood River Capital Management LLC raised its stake in shares of Lovesac by 17.4% in the second quarter. Hood River Capital Management LLC now owns 989,117 shares of the company’s stock worth $18,002,000 after buying an additional 146,911 shares during the period. AWM Investment Company Inc. increased its holdings in Lovesac by 7.2% in the 2nd quarter. AWM Investment Company Inc. now owns 730,960 shares of the company’s stock worth $13,303,000 after acquiring an additional 49,219 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Lovesac by 41.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 375,883 shares of the company’s stock worth $6,364,000 after acquiring an additional 110,953 shares during the period. Bridgeway Capital Management LLC raised its stake in Lovesac by 252.8% during the 2nd quarter. Bridgeway Capital Management LLC now owns 306,687 shares of the company’s stock worth $5,582,000 after acquiring an additional 219,762 shares during the period. Finally, Millennium Management LLC lifted its holdings in Lovesac by 344.8% during the first quarter. Millennium Management LLC now owns 302,291 shares of the company’s stock valued at $5,496,000 after purchasing an additional 234,324 shares in the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Lovesac Trading Down 1.6%

Shares of Lovesac stock opened at $10.54 on Friday. The stock’s fifty day moving average price is $13.13 and its 200-day moving average price is $14.44. The firm has a market cap of $154.06 million, a P/E ratio of 45.83, a P/E/G ratio of 0.35 and a beta of 2.35. The Lovesac Company has a 12 month low of $10.37 and a 12 month high of $21.90.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group reduced their price objective on shares of Lovesac from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, December 12th. Wall Street Zen cut shares of Lovesac from a “hold” rating to a “strong sell” rating in a research note on Saturday, December 13th. Maxim Group set a $26.00 target price on shares of Lovesac in a report on Friday, December 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Lovesac in a research note on Monday, December 29th. Finally, DA Davidson decreased their price target on Lovesac from $24.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.20.

About Lovesac

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.