Lovesac (NASDAQ:LOVE) Receives “Buy” Rating from Roth Mkm

Roth Mkm reiterated their buy rating on shares of Lovesac (NASDAQ:LOVEFree Report) in a research report report published on Tuesday morning, Benzinga reports. They currently have a $30.00 price objective on the stock.

LOVE has been the topic of a number of other research reports. Maxim Group began coverage on Lovesac in a report on Wednesday, April 17th. They set a buy rating and a $36.00 price objective on the stock. Oppenheimer dropped their price objective on Lovesac from $60.00 to $35.00 and set an outperform rating on the stock in a report on Wednesday, May 1st. Finally, Canaccord Genuity Group decreased their target price on Lovesac from $44.00 to $36.00 and set a buy rating on the stock in a research report on Friday, April 12th.

Read Our Latest Stock Report on Lovesac

Lovesac Trading Up 1.1 %

NASDAQ:LOVE opened at $26.26 on Tuesday. The stock’s 50 day simple moving average is $24.52 and its 200-day simple moving average is $23.96. Lovesac has a 12-month low of $14.18 and a 12-month high of $29.81. The firm has a market cap of $406.77 million, a P/E ratio of 18.54, a PEG ratio of 0.63 and a beta of 2.86.

Lovesac (NASDAQ:LOVEGet Free Report) last announced its quarterly earnings data on Thursday, April 11th. The company reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.06). Lovesac had a return on equity of 12.19% and a net margin of 3.39%. The business had revenue of $250.00 million for the quarter, compared to analyst estimates of $265.35 million. During the same period in the prior year, the company earned $1.74 EPS. The company’s revenue was up 4.8% on a year-over-year basis. Research analysts forecast that Lovesac will post 1.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Keith R. Siegner acquired 4,800 shares of Lovesac stock in a transaction dated Friday, April 19th. The shares were acquired at an average cost of $20.80 per share, for a total transaction of $99,840.00. Following the completion of the transaction, the chief financial officer now directly owns 4,800 shares of the company’s stock, valued at $99,840. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Andrew R. Heyer acquired 3,856 shares of Lovesac stock in a transaction dated Tuesday, April 16th. The shares were acquired at an average cost of $18.76 per share, for a total transaction of $72,338.56. Following the completion of the transaction, the director now directly owns 3,856 shares of the company’s stock, valued at $72,338.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Keith R. Siegner bought 4,800 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was acquired 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 of the company’s stock, valued at approximately $99,840. 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

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Lovesac by 1.4% in the first quarter. Vanguard Group Inc. now owns 841,537 shares of the company’s stock valued at $19,019,000 after purchasing an additional 11,745 shares during the last quarter. Halter Ferguson Financial Inc. acquired a new stake in Lovesac during the fourth quarter worth about $5,160,000. Skylands Capital LLC increased its stake in Lovesac by 1.4% during the fourth quarter. Skylands Capital LLC now owns 178,965 shares of the company’s stock worth $4,573,000 after acquiring an additional 2,525 shares during the last quarter. BCGM Wealth Management LLC increased its stake in Lovesac by 3.5% during the first quarter. BCGM Wealth Management LLC now owns 133,141 shares of the company’s stock worth $3,009,000 after acquiring an additional 4,450 shares during the last quarter. Finally, Millrace Asset Group Inc. increased its stake in Lovesac by 73.9% during the third quarter. Millrace Asset Group Inc. now owns 115,704 shares of the company’s stock worth $2,305,000 after acquiring an additional 49,153 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

About Lovesac

(Get Free Report)

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.

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