Lovesac (NASDAQ:LOVE) Stock Rating Reaffirmed by DA Davidson

DA Davidson reaffirmed their buy rating on shares of Lovesac (NASDAQ:LOVE) in a research note issued to investors on Thursday morning, Benzinga reports. DA Davidson currently has a $32.00 target price on the stock.

A number of other research firms have also recently commented on LOVE. Maxim Group boosted their price target on shares of Lovesac from $36.00 to $38.00 and gave the stock a buy rating in a research note on Monday, June 17th. Canaccord Genuity Group reiterated a buy rating and set a $36.00 price target on shares of Lovesac in a report on Friday, September 13th. Craig Hallum upped their price target on shares of Lovesac from $30.00 to $35.00 and gave the company a buy rating in a report on Friday, September 13th. Finally, Roth Mkm upped their target price on shares of Lovesac from $30.00 to $31.00 and gave the stock a buy rating in a research report on Friday, September 13th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $34.50.

Lovesac Trading Up 0.6 %

Shares of NASDAQ:LOVE opened at $25.63 on Thursday. The company has a 50 day moving average of $24.68 and a 200 day moving average of $24.47. The stock has a market cap of $398.57 million, a P/E ratio of 30.15, a P/E/G ratio of 0.71 and a beta of 2.91. Lovesac has a 12 month low of $14.18 and a 12 month high of $30.39.

Insider Activity at Lovesac

In related news, Director Albert Jack Krause sold 10,000 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total transaction of $262,200.00. Following the sale, the director now directly owns 177,849 shares of the company’s stock, valued at approximately $4,663,200.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.33% of the stock is currently owned by insiders.

Institutional Trading of Lovesac

Several institutional investors have recently bought and sold shares of LOVE. Marshall Wace LLP purchased a new stake in Lovesac during the 2nd quarter valued at about $4,328,000. American Century Companies Inc. lifted its stake in Lovesac by 78.6% during the 2nd quarter. American Century Companies Inc. now owns 291,579 shares of the company’s stock valued at $6,584,000 after acquiring an additional 128,285 shares during the period. Anson Funds Management LP bought a new position in Lovesac during the 1st quarter valued at about $1,742,000. Hood River Capital Management LLC lifted its stake in Lovesac by 8.8% during the 2nd quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock valued at $17,477,000 after acquiring an additional 62,615 shares during the period. Finally, LSV Asset Management bought a new position in Lovesac during the 1st quarter valued at about $988,000. 91.32% of the stock is owned by hedge funds and other institutional investors.

About Lovesac

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.