Lovesac (NASDAQ:LOVE) CEO Acquires $25,035.15 in Stock

The Lovesac Company (NASDAQ:LOVE) CEO Shawn David Nelson acquired 1,477 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The stock was acquired at an average cost of $16.95 per share, for a total transaction of $25,035.15. Following the acquisition, the chief executive officer owned 202,681 shares of the company’s stock, valued at $3,435,442.95. The trade was a 0.73% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Lovesac Price Performance

Shares of NASDAQ:LOVE opened at $16.40 on Thursday. The Lovesac Company has a 1-year low of $10.33 and a 1-year high of $21.90. The company has a market capitalization of $239.77 million, a P/E ratio of 56.55, a P/E/G ratio of 0.82 and a beta of 2.21. The firm’s 50 day simple moving average is $13.47 and its two-hundred day simple moving average is $13.92.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings results on Thursday, March 26th. The company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.19. Lovesac had a net margin of 0.58% and a return on equity of 2.02%. The business had revenue of $248.05 million for the quarter, compared to the consensus estimate of $242.77 million. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that The Lovesac Company will post 0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on LOVE shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lovesac in a report on Friday, March 27th. Wall Street Zen raised shares of Lovesac from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Finally, Roth Mkm reaffirmed a “buy” rating on shares of Lovesac in a report on Friday, March 27th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Lovesac presently has a consensus rating of “Moderate Buy” and an average price target of $22.67.

Institutional Investors Weigh In On Lovesac

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its position in shares of Lovesac by 130.4% during the second quarter. BNP Paribas Financial Markets now owns 1,938 shares of the company’s stock valued at $35,000 after buying an additional 1,097 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Lovesac by 147.9% during the third quarter. Meeder Asset Management Inc. now owns 5,357 shares of the company’s stock valued at $91,000 after buying an additional 3,196 shares during the last quarter. Ancora Advisors LLC bought a new stake in shares of Lovesac during the third quarter valued at approximately $146,000. XTX Topco Ltd bought a new stake in shares of Lovesac during the fourth quarter valued at approximately $149,000. Finally, PFG Investments LLC bought a new stake in shares of Lovesac during the fourth quarter valued at approximately $156,000. Institutional investors own 91.32% of the company’s stock.

Lovesac Company Profile

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.