Roth Mkm Reiterates “Buy” Rating for Lovesac (NASDAQ:LOVE)

Roth Mkm reaffirmed their buy rating on shares of Lovesac (NASDAQ:LOVE) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $34.00 price target on the stock.

Lovesac Trading Down 4.3 %

Lovesac stock opened at $23.34 on Wednesday. The firm has a market capitalization of $361.51 million, a P/E ratio of 18.38, a PEG ratio of 0.32 and a beta of 2.87. Lovesac has a 1 year low of $14.18 and a 1 year high of $30.93. The business has a 50-day moving average of $23.01 and a 200-day moving average of $21.74.

Insider Transactions at Lovesac

In other news, CEO Shawn David Nelson sold 6,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.44, for a total transaction of $134,640.00. Following the completion of the transaction, the chief executive officer now directly owns 179,970 shares in the company, valued at approximately $4,038,526.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 12.09% of the company’s stock.

Hedge Funds Weigh In On Lovesac

Institutional investors and hedge funds have recently modified their holdings of the business. Captrust Financial Advisors grew its position in shares of Lovesac by 110.6% in the 1st quarter. Captrust Financial Advisors now owns 577 shares of the company’s stock valued at $31,000 after purchasing an additional 303 shares during the period. Citigroup Inc. grew its position in shares of Lovesac by 32.6% in the 1st quarter. Citigroup Inc. now owns 2,339 shares of the company’s stock valued at $68,000 after purchasing an additional 575 shares during the period. Royal Bank of Canada grew its position in shares of Lovesac by 230.0% in the 2nd quarter. Royal Bank of Canada now owns 2,627 shares of the company’s stock valued at $70,000 after purchasing an additional 1,831 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Lovesac by 567.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,675 shares of the company’s stock valued at $73,000 after purchasing an additional 3,124 shares during the period. Finally, State of Wyoming grew its position in shares of Lovesac by 338.3% in the 4th quarter. State of Wyoming now owns 3,651 shares of the company’s stock valued at $80,000 after purchasing an additional 2,818 shares during the period. 91.32% of the stock is currently owned by institutional investors and hedge funds.

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 lovesac.com website, as well as showrooms at top tier malls, lifestyle centers, mobile concierges, kiosks, and street locations in 40 states of the United States; and in store pop-up- shops and shop-in-shops.