The Lovesac Company (NASDAQ:LOVE) Director Andrew R. Heyer sold 98,330 shares of the firm’s stock in a transaction that occurred on Monday, January 11th. The shares were sold at an average price of $48.97, for a total transaction of $4,815,220.10. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of The Lovesac stock opened at $46.64 on Thursday. The company’s fifty day simple moving average is $40.04 and its 200-day simple moving average is $31.55. The stock has a market capitalization of $684.82 million, a PE ratio of -358.77 and a beta of 2.52. The Lovesac Company has a 1-year low of $3.99 and a 1-year high of $52.00.
The Lovesac (NASDAQ:LOVE) last issued its quarterly earnings results on Tuesday, December 8th. The company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.88) by $1.04. The business had revenue of $74.70 million for the quarter, compared to analysts’ expectations of $66.14 million. The Lovesac had a negative net margin of 0.55% and a negative return on equity of 1.84%. The company’s revenue was up 43.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.46) EPS. On average, equities research analysts expect that The Lovesac Company will post 0.04 EPS for the current fiscal year.
Several brokerages recently weighed in on LOVE. Zacks Investment Research raised shares of The Lovesac from a “sell” rating to a “hold” rating in a research report on Tuesday, December 15th. BTIG Research raised their price target on shares of The Lovesac from $49.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, January 8th. Canaccord Genuity lifted their target price on shares of The Lovesac from $35.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, December 9th. BidaskClub raised shares of The Lovesac from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 18th. Finally, Oppenheimer lifted their target price on shares of The Lovesac from $40.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 6th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $40.22.
About The Lovesac
The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. The company offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, foot sac blankets, decorative pillows, fitted seat tables, and ottomans.
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