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

Roubaix Capital LLC purchased a new position in shares of The Lovesac Company (NASDAQ:LOVE) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 157,775 shares of the company’s stock, valued at approximately $4,520,000. Lovesac accounts for approximately 2.5% of Roubaix Capital LLC’s investment portfolio, making the stock its 14th largest holding. Roubaix Capital LLC owned about 1.01% of Lovesac as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of LOVE. EntryPoint Capital LLC acquired a new stake in shares of Lovesac in the first quarter valued at $39,000. Meeder Asset Management Inc. acquired a new position in Lovesac during the 2nd quarter valued at about $43,000. SG Americas Securities LLC bought a new position in shares of Lovesac in the 3rd quarter valued at about $170,000. Valeo Financial Advisors LLC acquired a new stake in shares of Lovesac during the 3rd quarter worth approximately $242,000. Finally, Quest Partners LLC raised its stake in shares of Lovesac by 797.6% during the second quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock worth $194,000 after buying an additional 7,617 shares during the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

Lovesac Stock Down 2.0 %

Lovesac stock opened at $30.02 on Thursday. The stock 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 Lovesac Company has a twelve month low of $15.95 and a twelve month high of $31.30. The company has a 50 day moving average of $25.92 and a 200-day moving average of $25.13.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Thursday, September 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.08. The firm had revenue of $156.59 million for the quarter, compared to the consensus estimate of $154.01 million. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. Equities analysts anticipate that The Lovesac Company will post 1.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Albert Jack Krause sold 10,000 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total value of $262,200.00. Following the sale, the director now owns 177,849 shares of the company’s stock, valued at $4,663,200.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.33% of the company’s stock.

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.