The Lovesac Company (NASDAQ:LOVE – Get Rating) CEO Shawn David Nelson sold 8,000 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $33.89, for a total transaction of $271,120.00. Following the completion of the sale, the chief executive officer now owns 64,895 shares of the company’s stock, valued at $2,199,291.55. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Lovesac Stock Up 1.2 %
Shares of NASDAQ LOVE traded up $0.42 during midday trading on Tuesday, reaching $35.26. 276,145 shares of the company were exchanged, compared to its average volume of 294,303. The stock’s 50-day moving average price is $32.65 and its 200-day moving average price is $42.38. The stock has a market cap of $533.48 million, a P/E ratio of 12.48, a PEG ratio of 0.32 and a beta of 2.46. The Lovesac Company has a one year low of $26.05 and a one year high of $87.12.
Lovesac (NASDAQ:LOVE – Get Rating) last issued its quarterly earnings results on Wednesday, June 8th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.32. Lovesac had a net margin of 8.40% and a return on equity of 21.22%. The company had revenue of $129.40 million for the quarter, compared to analyst estimates of $114.81 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. Lovesac’s revenue was up 56.1% compared to the same quarter last year. On average, equities research analysts anticipate that The Lovesac Company will post 3.03 EPS for the current year.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on LOVE. BTIG Research cut their target price on shares of Lovesac to $100.00 in a research note on Thursday, June 9th. Stifel Nicolaus cut their price objective on shares of Lovesac from $110.00 to $90.00 in a research report on Thursday, June 9th. DA Davidson cut their price objective on shares of Lovesac from $135.00 to $124.00 in a research report on Wednesday, June 1st. Canaccord Genuity Group cut their price objective on shares of Lovesac from $104.00 to $70.00 in a research report on Thursday, June 9th. Finally, Craig Hallum cut their price objective on shares of Lovesac to $100.00 in a research report on Thursday, June 9th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $98.50.
Institutional Investors Weigh In On Lovesac
Several hedge funds and other institutional investors have recently made changes to their positions in LOVE. Captrust Financial Advisors boosted its stake in Lovesac by 110.6% in the first quarter. Captrust Financial Advisors now owns 577 shares of the company’s stock valued at $31,000 after acquiring an additional 303 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Lovesac during the 4th quarter valued at approximately $70,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Lovesac by 145.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the company’s stock valued at $129,000 after buying an additional 1,154 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Lovesac during the 1st quarter valued at approximately $112,000. Finally, Brown Advisory Inc. purchased a new stake in shares of Lovesac during the 4th quarter valued at approximately $249,000. 97.12% of the stock is owned by institutional investors.
Lovesac Company Profile (Get Rating)
The Lovesac Company designs, manufactures, and sells furniture. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans. As of January 30, 2022, the company operated 146 showrooms.