Walter Field Mclallen Purchases 1,950 Shares of The Lovesac Company (NASDAQ:LOVE) Stock

The Lovesac Company (NASDAQ:LOVE) Director Walter Field Mclallen bought 1,950 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was bought at an average price of $18.08 per share, with a total value of $35,256.00. Following the completion of the acquisition, the director now owns 40,000 shares of the company’s stock, valued at $723,200. This trade represents a 5.12% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lovesac Stock Up 2.7%

LOVE opened at $18.60 on Tuesday. The Lovesac Company has a 52-week low of $12.12 and a 52-week high of $39.49. The company has a 50 day moving average of $19.55 and a two-hundred day moving average of $21.28. The company has a market cap of $270.63 million, a P/E ratio of 26.57, a P/E/G ratio of 0.58 and a beta of 2.30.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings data on Thursday, June 12th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.08. Lovesac had a net margin of 1.99% and a return on equity of 6.70%. The company had revenue of $138.37 million during the quarter, compared to the consensus estimate of $137.20 million. During the same period in the previous year, the firm earned ($0.83) earnings per share. Lovesac’s revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts anticipate that The Lovesac Company will post 0.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LOVE. Heck Capital Advisors LLC acquired a new position in shares of Lovesac during the fourth quarter worth $26,000. Cubist Systematic Strategies LLC acquired a new position in shares of Lovesac during the fourth quarter worth $49,000. Quarry LP lifted its position in shares of Lovesac by 396.3% during the first quarter. Quarry LP now owns 3,052 shares of the company’s stock worth $55,000 after purchasing an additional 2,437 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of Lovesac during the fourth quarter worth $70,000. Finally, MetLife Investment Management LLC lifted 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 purchasing an additional 1,425 shares in the last quarter. 91.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LOVE has been the subject of a number of recent analyst reports. Canaccord Genuity Group lowered their target price on shares of Lovesac from $45.00 to $30.00 and set a “buy” rating for the company in a report on Friday, April 11th. DA Davidson decreased their price objective on shares of Lovesac from $35.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Roth Mkm boosted their price objective on shares of Lovesac from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Finally, Oppenheimer reiterated an “outperform” rating and set a $35.00 price objective on shares of Lovesac in a research note on Friday, April 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $30.40.

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.