Roubaix Capital LLC Takes Position in The Lovesac Company (NASDAQ:LOVE)

Roubaix Capital LLC bought a new position in shares of The Lovesac Company (NASDAQ:LOVE) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 157,775 shares of the company’s stock, valued at approximately $4,520,000. Lovesac comprises approximately 2.5% of Roubaix Capital LLC’s holdings, making the stock its 14th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LOVE. Marshall Wace LLP bought a new position in shares of Lovesac in the 2nd quarter valued at about $4,328,000. American Century Companies Inc. grew its holdings in Lovesac by 78.6% during the second quarter. American Century Companies Inc. now owns 291,579 shares of the company’s stock worth $6,584,000 after purchasing an additional 128,285 shares during the period. Anson Funds Management LP acquired a new position in Lovesac during the first quarter worth approximately $1,742,000. Hood River Capital Management LLC raised its stake in Lovesac by 8.8% in the second quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock valued at $17,477,000 after buying an additional 62,615 shares during the period. Finally, LSV Asset Management acquired a new stake in shares of Lovesac in the first quarter valued at approximately $988,000. 91.32% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Lovesac Stock Performance

LOVE stock opened at $30.02 on Thursday. The Lovesac Company has a 52 week low of $15.95 and a 52 week high of $31.30. The company has a market capitalization of $467.08 million, a PE ratio of 35.32, a price-to-earnings-growth ratio of 0.77 and a beta of 2.91. The company’s 50-day simple moving average is $25.92 and its 200 day simple moving average is $25.13.

Lovesac (NASDAQ:LOVE) last announced its earnings results on Thursday, September 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. The firm had revenue of $156.59 million for the quarter, compared to analyst estimates of $154.01 million. On average, analysts forecast that The Lovesac Company will post 1.09 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on LOVE shares. Roth Mkm boosted their target price on Lovesac from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Canaccord Genuity Group reiterated a “buy” rating and issued a $36.00 price objective on shares of Lovesac in a report on Friday, September 13th. Craig Hallum raised their target price on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, DA Davidson reiterated a “buy” rating and issued a $32.00 price target on shares of Lovesac in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $34.50.

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.