Insider Selling: The Lovesac Company (NASDAQ:LOVE) Director Sells 30,000 Shares of Stock

The Lovesac Company (NASDAQ:LOVE) Director Albert Jack Krause sold 30,000 shares of Lovesac stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $26.33, for a total transaction of $789,900.00. Following the completion of the sale, the director now directly owns 147,849 shares in the company, valued at $3,892,864.17. This trade represents a 16.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Lovesac Trading Down 1.5 %

Shares of LOVE traded down $0.40 during trading hours on Wednesday, reaching $25.86. 445,869 shares of the company’s stock traded hands, compared to its average volume of 392,128. The Lovesac Company has a 12 month low of $18.21 and a 12 month high of $39.49. The stock has a market cap of $399.02 million, a PE ratio of 76.06, a price-to-earnings-growth ratio of 1.92 and a beta of 3.04. The firm’s 50 day simple moving average is $29.65 and its 200-day simple moving average is $27.45.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.02. The firm had revenue of $149.90 million for the quarter, compared to analysts’ expectations of $155.26 million. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.15) EPS. As a group, analysts expect that The Lovesac Company will post 0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lovesac

A number of hedge funds and other institutional investors have recently modified their holdings of LOVE. SG Americas Securities LLC bought a new stake in Lovesac in the 3rd quarter worth approximately $170,000. Franklin Resources Inc. purchased a new position in shares of Lovesac during the third quarter worth approximately $231,000. Valeo Financial Advisors LLC bought a new stake in shares of Lovesac in the 3rd quarter worth approximately $242,000. Versor Investments LP purchased a new stake in shares of Lovesac in the 3rd quarter valued at $255,000. Finally, International Assets Investment Management LLC grew its holdings in shares of Lovesac by 2,765.0% during the 3rd quarter. International Assets Investment Management LLC now owns 11,460 shares of the company’s stock valued at $328,000 after purchasing an additional 11,060 shares during the last quarter. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.