Lovesac (NASDAQ:LOVE) Earns “Buy” Rating from Roth Mkm

Lovesac (NASDAQ:LOVE)‘s stock had its “buy” rating reissued by Roth Mkm in a report released on Wednesday, Benzinga reports. They presently have a $30.00 target price on the stock. Roth Mkm’s price target indicates a potential upside of 34.53% from the stock’s current price.

Several other equities analysts have also commented on LOVE. Maxim Group increased their price target on shares of Lovesac from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, June 17th. DA Davidson raised their target price on shares of Lovesac from $24.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Canaccord Genuity Group restated a “buy” rating and set a $36.00 target price on shares of Lovesac in a research report on Friday, June 14th. Finally, Oppenheimer lowered their target price on shares of Lovesac from $60.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $34.20.

Lovesac Stock Up 1.4 %

Lovesac stock traded up $0.31 during mid-day trading on Wednesday, hitting $22.30. The company had a trading volume of 19,629 shares, compared to its average volume of 302,272. The stock has a market cap of $346.77 million, a price-to-earnings ratio of 26.32, a PEG ratio of 0.59 and a beta of 2.94. Lovesac has a 1 year low of $14.18 and a 1 year high of $29.81. The business has a fifty day moving average of $24.89 and a 200 day moving average of $23.91.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings results on Thursday, June 13th. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.99) by $0.16. The company had revenue of $132.64 million for the quarter, compared to analyst estimates of $128.20 million. Lovesac had a net margin of 2.17% and a return on equity of 7.55%. Equities analysts anticipate that Lovesac will post 1.09 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Andrew R. Heyer purchased 3,856 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was purchased at an average cost of $18.76 per share, with a total value of $72,338.56. Following the completion of the acquisition, the director now directly owns 3,856 shares in the company, valued at $72,338.56. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other Lovesac news, Director Andrew R. Heyer bought 3,856 shares of Lovesac stock in a transaction on Tuesday, April 16th. The stock was bought at an average price of $18.76 per share, with a total value of $72,338.56. Following the completion of the acquisition, the director now owns 3,856 shares in the company, valued at $72,338.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Keith R. Siegner bought 4,800 shares of Lovesac stock in a transaction on Friday, April 19th. The stock was acquired at an average cost of $20.80 per share, with a total value of $99,840.00. Following the acquisition, the chief financial officer now owns 4,800 shares of the company’s stock, valued at approximately $99,840. The disclosure for this purchase can be found here. Corporate insiders own 12.33% of the company’s stock.

Institutional Investors Weigh In On Lovesac

A number of hedge funds and other institutional investors have recently bought and sold shares of LOVE. Halter Ferguson Financial Inc. purchased a new position in shares of Lovesac in the fourth quarter valued at $5,160,000. Anson Funds Management LP purchased a new position in shares of Lovesac in the first quarter valued at $1,742,000. GSA Capital Partners LLP purchased a new position in shares of Lovesac in the third quarter valued at $1,189,000. LSV Asset Management purchased a new position in shares of Lovesac in the first quarter valued at $988,000. Finally, BNP Paribas Financial Markets increased its position in shares of Lovesac by 146.8% in the fourth quarter. BNP Paribas Financial Markets now owns 64,767 shares of the company’s stock valued at $1,655,000 after buying an additional 38,520 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

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.