The Lovesac Company (NASDAQ:LOVE) Shares Sold by Skylands Capital LLC

Skylands Capital LLC reduced its position in The Lovesac Company (NASDAQ:LOVE) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,650 shares of the company’s stock after selling 19,150 shares during the period. Skylands Capital LLC owned about 1.17% of Lovesac worth $4,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. BCGM Wealth Management LLC grew its holdings in shares of Lovesac by 1.2% during the fourth quarter. BCGM Wealth Management LLC now owns 135,979 shares of the company’s stock worth $3,217,000 after buying an additional 1,615 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Lovesac by 1,976.1% during the fourth quarter. New York State Common Retirement Fund now owns 118,795 shares of the company’s stock worth $2,811,000 after buying an additional 113,073 shares during the period. Empowered Funds LLC increased its stake in Lovesac by 5.0% in the fourth quarter. Empowered Funds LLC now owns 51,725 shares of the company’s stock valued at $1,224,000 after purchasing an additional 2,441 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Lovesac during the fourth quarter worth approximately $26,000. Finally, Wesbanco Bank Inc. grew its position in shares of Lovesac by 100.0% during the fourth quarter. Wesbanco Bank Inc. now owns 27,000 shares of the company’s stock worth $639,000 after acquiring an additional 13,500 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Canaccord Genuity Group boosted their target price on shares of Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. DA Davidson dropped their price objective on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Finally, Roth Mkm increased their target price on shares of Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $38.33.

Insider Activity at Lovesac

In other Lovesac news, Director Walter Field Mclallen acquired 4,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was purchased at an average price of $24.68 per share, for a total transaction of $98,720.00. Following the transaction, the director now owns 23,540 shares in the company, valued at $580,967.20. This trade represents a 20.47 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Albert Jack Krause sold 30,000 shares of Lovesac stock in a transaction on Friday, January 17th. The shares were sold at an average price of $26.33, for a total value of $789,900.00. Following the completion of the transaction, the director now owns 147,849 shares of the company’s stock, valued at approximately $3,892,864.17. The trade was a 16.87 % decrease in their position. The disclosure for this sale can be found here. 12.33% of the stock is owned by company insiders.

Lovesac Stock Down 5.0 %

Shares of LOVE stock opened at $21.65 on Monday. The stock has a 50-day simple moving average of $24.67 and a 200 day simple moving average of $27.05. The Lovesac Company has a fifty-two week low of $18.21 and a fifty-two week high of $39.49. The stock has a market capitalization of $334.06 million, a P/E ratio of 63.68, a P/E/G ratio of 0.65 and a beta of 3.02.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The firm had revenue of $149.90 million during the quarter, compared to analyst estimates of $155.26 million. During the same period last year, the company posted ($0.15) EPS. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that The Lovesac Company will post 0.39 earnings per share for the current year.

Lovesac 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.