Lovesac (NASDAQ:LOVE) Given “Buy” Rating at Roth Mkm

Roth Mkm reissued their buy rating on shares of Lovesac (NASDAQ:LOVE) in a research report sent to investors on Tuesday, Benzinga reports. Roth Mkm currently has a $30.00 price target on the stock.

Several other analysts have also commented on the stock. Maxim Group initiated coverage on shares of Lovesac in a research report on Wednesday, April 17th. They issued a buy rating and a $36.00 price target on the stock. Oppenheimer lowered their price target 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. Finally, Canaccord Genuity Group lowered their price target on shares of Lovesac from $44.00 to $36.00 and set a buy rating on the stock in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $33.80.

Lovesac Trading Down 7.7 %

Shares of Lovesac stock opened at $24.25 on Tuesday. Lovesac has a 12-month low of $14.18 and a 12-month high of $29.81. The stock has a market cap of $375.63 million, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.68 and a beta of 2.86. The company has a 50-day moving average of $24.59 and a two-hundred day moving average of $24.01.

Lovesac (NASDAQ:LOVE) last issued its earnings results on Thursday, June 13th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.16. Lovesac had a net margin of 3.39% and a return on equity of 12.19%. The company had revenue of $132.64 million during the quarter, compared to analysts’ expectations of $128.20 million. On average, sell-side analysts forecast that Lovesac will post 1.09 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Lovesac

Large investors have recently bought and sold shares of the stock. EntryPoint Capital LLC purchased a new position in Lovesac during the first quarter worth approximately $39,000. Byrne Asset Management LLC raised its stake in Lovesac by 515.4% during the first quarter. Byrne Asset Management LLC now owns 3,200 shares of the company’s stock worth $72,000 after purchasing an additional 2,680 shares during the period. SG Americas Securities LLC purchased a new position in Lovesac during the fourth quarter worth approximately $116,000. Barclays PLC raised its stake in Lovesac by 15.2% during the third quarter. Barclays PLC now owns 6,210 shares of the company’s stock worth $124,000 after purchasing an additional 818 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Lovesac by 8.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock valued at $218,000 after acquiring an additional 726 shares during the period. Hedge funds and other institutional investors 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.