The Lovesac Company (NASDAQ:LOVE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of The Lovesac Company (NASDAQ:LOVE) have been assigned an average rating of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $22.6667.

Several research analysts have commented on LOVE shares. Roth Mkm reaffirmed a “buy” rating on shares of Lovesac in a research note on Friday, March 27th. Weiss Ratings restated a “sell (d)” rating on shares of Lovesac in a report on Friday, March 27th. Finally, Wall Street Zen raised shares of Lovesac from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th.

Lovesac Price Performance

NASDAQ:LOVE opened at $15.38 on Friday. The firm has a market capitalization of $227.32 million, a price-to-earnings ratio of 53.04, a PEG ratio of 0.74 and a beta of 2.04. The business has a 50 day simple moving average of $15.23 and a 200-day simple moving average of $14.14. Lovesac has a 1 year low of $10.33 and a 1 year high of $21.15.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, March 26th. The company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.19. Lovesac had a return on equity of 2.02% and a net margin of 0.58%.The firm had revenue of $248.05 million for the quarter, compared to the consensus estimate of $242.77 million. During the same quarter in the previous year, the company posted $2.13 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts expect that Lovesac will post 0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Shawn David Nelson acquired 1,477 shares of the firm’s stock in a transaction on Thursday, April 16th. The stock was acquired at an average price of $16.95 per share, with a total value of $25,035.15. Following the completion of the purchase, the chief executive officer directly owned 202,681 shares in the company, valued at approximately $3,435,442.95. This trade represents a 0.73% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lovesac

Several hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC lifted its stake in shares of Lovesac by 391.8% during the 1st quarter. AQR Capital Management LLC now owns 111,727 shares of the company’s stock worth $2,031,000 after acquiring an additional 89,007 shares during the last quarter. Millennium Management LLC grew its position in Lovesac by 344.8% in the 1st quarter. Millennium Management LLC now owns 302,291 shares of the company’s stock valued at $5,496,000 after acquiring an additional 234,324 shares during the last quarter. Empowered Funds LLC increased its stake in Lovesac by 8.1% in the first quarter. Empowered Funds LLC now owns 55,925 shares of the company’s stock worth $1,017,000 after purchasing an additional 4,200 shares during the period. JPMorgan Chase & Co. increased its stake in Lovesac by 756.5% in the second quarter. JPMorgan Chase & Co. now owns 58,885 shares of the company’s stock worth $1,072,000 after purchasing an additional 52,010 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Lovesac by 15.9% during the second quarter. Rhumbline Advisers now owns 24,550 shares of the company’s stock worth $447,000 after purchasing an additional 3,376 shares during the last quarter. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Lovesac Company Profile

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.