AWM Investment Company Inc. Acquires 170,045 Shares of The Lovesac Company (NASDAQ:LOVE)

AWM Investment Company Inc. increased its stake in shares of The Lovesac Company (NASDAQ:LOVE) by 33.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 681,741 shares of the company’s stock after purchasing an additional 170,045 shares during the quarter. Lovesac makes up 2.0% of AWM Investment Company Inc.’s holdings, making the stock its 18th largest position. AWM Investment Company Inc. owned 4.42% of Lovesac worth $16,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of LOVE. Heck Capital Advisors LLC purchased a new position in shares of Lovesac in the fourth quarter worth about $26,000. Cubist Systematic Strategies LLC acquired a new position in shares of Lovesac during the 4th quarter worth about $49,000. AlphaQuest LLC acquired a new stake in shares of Lovesac in the fourth quarter worth approximately $70,000. MetLife Investment Management LLC grew its holdings 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 buying an additional 1,425 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Lovesac by 24.8% in the 4th quarter. Wells Fargo & Company MN now owns 9,823 shares of the company’s stock worth $232,000 after purchasing an additional 1,950 shares in the last quarter. 91.32% of the stock is owned by hedge funds and other institutional investors.

Lovesac Price Performance

Shares of NASDAQ LOVE opened at $19.84 on Wednesday. The Lovesac Company has a 12 month low of $12.12 and a 12 month high of $39.49. The company has a market cap of $294.52 million, a PE ratio of 58.35, a price-to-earnings-growth ratio of 0.65 and a beta of 2.48. The company has a 50-day simple moving average of $18.55 and a 200-day simple moving average of $23.90.

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

Wall Street Analyst Weigh In

LOVE has been the topic of a number of analyst reports. Canaccord Genuity Group reduced 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. Roth Mkm lifted their price objective on shares of Lovesac from $22.00 to $28.00 and gave the company a “buy” rating in a report on Friday, April 11th. DA Davidson lowered their price objective on Lovesac from $35.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $35.00 price target on shares of Lovesac in a report on Friday, April 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lovesac presently has a consensus rating of “Buy” and a consensus price target of $31.67.

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 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.