The Lovesac Company (NASDAQ:LOVE) Shares Purchased by Connors Investor Services Inc.

Connors Investor Services Inc. boosted its holdings in shares of The Lovesac Company (NASDAQ:LOVE) by 40.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,038 shares of the company’s stock after buying an additional 30,639 shares during the quarter. Connors Investor Services Inc.’s holdings in Lovesac were worth $2,533,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in shares of Lovesac during the fourth quarter worth approximately $26,000. AlphaQuest LLC acquired a new stake in shares of Lovesac in the 4th quarter valued at about $70,000. Franklin Resources Inc. acquired a new stake in shares of Lovesac in the third quarter valued at approximately $231,000. MetLife Investment Management LLC grew its position in shares of Lovesac by 18.3% during the fourth quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock worth $218,000 after acquiring an additional 1,425 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings 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 acquiring an additional 1,950 shares during the period. Institutional investors and hedge funds own 91.32% of the company’s stock.

Lovesac Stock Down 0.7 %

Shares of LOVE stock opened at $20.27 on Wednesday. The stock has a market cap of $299.87 million, a P/E ratio of 59.62, a P/E/G ratio of 0.65 and a beta of 3.08. The Lovesac Company has a fifty-two week low of $12.12 and a fifty-two week high of $39.49. The business has a fifty day simple moving average of $18.25 and a 200-day simple moving average of $24.84.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on LOVE. Canaccord Genuity Group dropped their price objective 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. Oppenheimer reiterated an “outperform” rating and set a $35.00 target price on shares of Lovesac in a research report on Friday, April 11th. DA Davidson reduced their price target on Lovesac from $35.00 to $24.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, Roth Mkm upped their price objective on Lovesac from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average 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.