Marshall Wace LLP Boosts Stake in The Lovesac Company (NASDAQ:LOVE)

Marshall Wace LLP raised its position in shares of The Lovesac Company (NASDAQ:LOVE) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 452,901 shares of the company’s stock after purchasing an additional 29,173 shares during the period. Marshall Wace LLP owned approximately 2.94% of Lovesac worth $10,716,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new position in shares of Lovesac during the 4th quarter valued at about $26,000. Charles Schwab Investment Management Inc. grew its position in Lovesac by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,524 shares of the company’s stock valued at $982,000 after acquiring an additional 1,243 shares during the last quarter. BCGM Wealth Management LLC lifted its holdings in shares of Lovesac by 1.2% in the 4th quarter. BCGM Wealth Management LLC now owns 135,979 shares of the company’s stock worth $3,217,000 after acquiring an additional 1,615 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Lovesac by 24.8% in the 4th quarter. Wells Fargo & Company MN now owns 9,823 shares of the company’s stock valued at $232,000 after purchasing an additional 1,950 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Lovesac by 10.6% during the 4th quarter. Barclays PLC now owns 22,472 shares of the company’s stock valued at $531,000 after purchasing an additional 2,160 shares during the last quarter. Institutional investors own 91.32% of the company’s stock.

Lovesac Stock Performance

LOVE stock opened at $20.01 on Tuesday. The company has a market capitalization of $296.03 million, a price-to-earnings ratio of 58.85, a price-to-earnings-growth ratio of 0.65 and a beta of 3.08. The business’s 50 day moving average price is $18.57 and its two-hundred day moving average price is $25.03. The Lovesac Company has a fifty-two week low of $12.12 and a fifty-two week high of $39.49.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings data on Thursday, April 10th. The company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.33. The business had revenue of $241.50 million during the quarter, compared to the consensus estimate of $230.33 million. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.87 earnings per share. Sell-side analysts forecast that The Lovesac Company will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on LOVE. Roth Mkm upped their price target on shares of Lovesac from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, April 11th. DA Davidson decreased their price target on Lovesac from $35.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Canaccord Genuity Group decreased their target price on shares of Lovesac from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, Oppenheimer reissued an “outperform” rating and issued a $35.00 price target on shares of Lovesac in a report on Friday, April 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $31.67.

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.