Jefferies Financial Group Inc. Takes Position in The Lovesac Company $LOVE

Jefferies Financial Group Inc. purchased a new position in shares of The Lovesac Company (NASDAQ:LOVE) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 51,900 shares of the company’s stock, valued at approximately $766,000.

A number of other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in Lovesac by 130.4% in the second quarter. BNP Paribas Financial Markets now owns 1,938 shares of the company’s stock valued at $35,000 after acquiring an additional 1,097 shares during the last quarter. Numerai GP LLC lifted its stake in Lovesac by 10.7% during the third quarter. Numerai GP LLC now owns 11,805 shares of the company’s stock worth $200,000 after purchasing an additional 1,145 shares during the last quarter. MML Investors Services LLC boosted its holdings in shares of Lovesac by 1.0% in the 2nd quarter. MML Investors Services LLC now owns 218,845 shares of the company’s stock valued at $3,983,000 after purchasing an additional 2,203 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Lovesac by 15.9% in the 2nd quarter. Rhumbline Advisers now owns 24,550 shares of the company’s stock valued at $447,000 after purchasing an additional 3,376 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Lovesac by 8.1% in the 1st quarter. Empowered Funds LLC now owns 55,925 shares of the company’s stock valued at $1,017,000 after purchasing an additional 4,200 shares during the last quarter. 91.32% of the stock is owned by institutional investors.

Insider Transactions at Lovesac

In other news, CEO Shawn David Nelson bought 1,477 shares of the stock in a transaction on Thursday, April 16th. The stock was acquired at an average price of $16.95 per share, with a total value of $25,035.15. Following the acquisition, the chief executive officer directly owned 202,681 shares in the company, valued at approximately $3,435,442.95. This trade represents a 0.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.46% of the stock is currently owned by insiders.

Lovesac Price Performance

Shares of Lovesac stock opened at $15.38 on Friday. The company’s 50 day moving average price is $15.23 and its two-hundred day moving average price is $14.14. The firm has a market capitalization of $227.32 million, a P/E ratio of 53.04, a P/E/G ratio of 0.78 and a beta of 2.04. The Lovesac Company has a fifty-two week low of $10.33 and a fifty-two week high of $21.15.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings results on Thursday, March 26th. The company reported $2.19 earnings per share (EPS) for the quarter, topping 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 company had revenue of $248.05 million during the quarter, compared to the consensus estimate of $242.77 million. During the same period in the prior year, the business earned $2.13 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts expect that The Lovesac Company will post 0.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Lovesac in a research report on Friday, March 27th. Wall Street Zen upgraded Lovesac from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Finally, Roth Mkm reissued a “buy” rating on shares of Lovesac in a research note on Friday, March 27th. Four investment 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.67.

Lovesac 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.