The Lovesac Company (NASDAQ:LOVE) CFO Acquires $99,840.00 in Stock

The Lovesac Company (NASDAQ:LOVE) CFO Keith R. Siegner bought 4,800 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were acquired at an average price of $20.80 per share, for a total transaction of $99,840.00. Following the acquisition, the chief financial officer now owns 4,800 shares in the company, valued at approximately $99,840. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Lovesac Stock Down 2.6 %

NASDAQ LOVE opened at $21.85 on Friday. The company has a 50-day moving average price of $22.31 and a 200-day moving average price of $21.87. The firm has a market capitalization of $338.46 million, a P/E ratio of 15.61, a PEG ratio of 0.48 and a beta of 2.87. The Lovesac Company has a 52 week low of $14.18 and a 52 week high of $29.81.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, April 11th. The company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.06). The firm had revenue of $250.00 million during the quarter, compared to analysts’ expectations of $265.35 million. Lovesac had a return on equity of 12.19% and a net margin of 3.39%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.74 earnings per share. As a group, equities research analysts anticipate that The Lovesac Company will post 1.3 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LOVE shares. Roth Mkm reiterated a “buy” rating and issued a $34.00 price target on shares of Lovesac in a research note on Wednesday, April 10th. Canaccord Genuity Group dropped their price target on shares of Lovesac from $44.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Finally, Maxim Group assumed coverage on shares of Lovesac in a research note on Wednesday, April 17th. They set a “buy” rating and a $36.00 target price on the stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its position in shares of Lovesac by 15.2% during the 3rd quarter. Barclays PLC now owns 6,210 shares of the company’s stock valued at $124,000 after acquiring an additional 818 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Lovesac by 2.7% during the 4th quarter. New York State Common Retirement Fund now owns 42,159 shares of the company’s stock valued at $1,077,000 after acquiring an additional 1,116 shares during the last quarter. Skylands Capital LLC boosted its position in shares of Lovesac by 1.1% during the 3rd quarter. Skylands Capital LLC now owns 176,440 shares of the company’s stock valued at $3,515,000 after acquiring an additional 1,925 shares during the last quarter. Byrne Asset Management LLC lifted its position in Lovesac by 515.4% in the first quarter. Byrne Asset Management LLC now owns 3,200 shares of the company’s stock worth $72,000 after buying an additional 2,680 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Lovesac in the fourth quarter worth $116,000. 91.32% of the stock is currently owned by 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.