Lovesac (NASDAQ:LOVE) Rating Lowered to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Lovesac (NASDAQ:LOVE) from a hold rating to a sell rating in a research report released on Friday morning.

A number of other brokerages also recently issued reports on LOVE. Canaccord Genuity Group decreased their price target on shares of Lovesac from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Oppenheimer reiterated an “outperform” rating and issued a $35.00 price target on shares of Lovesac in a research note on Friday, April 11th. DA Davidson decreased their price target 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. Finally, Roth Mkm lifted their price target 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. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, Lovesac has a consensus rating of “Moderate Buy” and a consensus target price of $30.40.

Lovesac Stock Up 2.2%

Shares of Lovesac stock opened at $18.79 on Friday. Lovesac 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 $19.46 and a 200 day moving average of $20.84. The company has a market capitalization of $273.39 million, a P/E ratio of 26.84, a P/E/G ratio of 0.60 and a beta of 2.30.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings results on Thursday, June 12th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm earned ($0.83) earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, research analysts anticipate that Lovesac will post 0.39 earnings per share for the current fiscal year.

Insider Transactions at Lovesac

In related news, Director Walter Field Mclallen acquired 1,950 shares of Lovesac stock in a transaction dated Friday, June 20th. The stock was acquired at an average price of $18.08 per share, for a total transaction of $35,256.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at $723,200. This represents a 5.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.33% of the company’s stock.

Institutional Trading of Lovesac

Several institutional investors have recently modified their holdings of the stock. Senvest Management LLC lifted its position in shares of Lovesac by 17.4% during the 4th quarter. Senvest Management LLC now owns 1,106,767 shares of the company’s stock worth $26,186,000 after buying an additional 163,745 shares during the last quarter. Hood River Capital Management LLC raised its position in Lovesac by 6.4% in the 4th quarter. Hood River Capital Management LLC now owns 986,947 shares of the company’s stock valued at $23,351,000 after purchasing an additional 59,231 shares during the last quarter. Anson Funds Management LP raised its position in Lovesac by 1.4% in the 1st quarter. Anson Funds Management LP now owns 932,261 shares of the company’s stock valued at $16,949,000 after purchasing an additional 13,032 shares during the last quarter. AWM Investment Company Inc. raised its position in Lovesac by 33.2% in the 4th quarter. AWM Investment Company Inc. now owns 681,741 shares of the company’s stock valued at $16,130,000 after purchasing an additional 170,045 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Lovesac by 9.3% in the 4th quarter. Bank of New York Mellon Corp now owns 489,613 shares of the company’s stock valued at $11,584,000 after purchasing an additional 41,751 shares during the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s stock.

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.