Roth Mkm Reiterates Buy Rating for Lovesac (NASDAQ:LOVE)

Lovesac (NASDAQ:LOVEGet Free Report)‘s stock had its “buy” rating restated by research analysts at Roth Mkm in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $30.00 price target on the stock. Roth Mkm’s price objective suggests a potential upside of 17.28% from the stock’s current price.

Several other brokerages have also recently weighed in on LOVE. Canaccord Genuity Group reduced their price target on Lovesac from $44.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Oppenheimer reduced their price target on Lovesac from $60.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Finally, Maxim Group assumed coverage on Lovesac in a research note on Wednesday, April 17th. They set a “buy” rating and a $36.00 price objective for the company.

View Our Latest Analysis on Lovesac

Lovesac Trading Down 2.1 %

Shares of LOVE traded down $0.56 on Tuesday, reaching $25.58. 59,579 shares of the company’s stock traded hands, compared to its average volume of 290,409. The stock has a market cap of $396.23 million, a PE ratio of 18.27, a PEG ratio of 0.64 and a beta of 2.86. The stock’s 50 day simple moving average is $24.39 and its two-hundred day simple moving average is $23.91. Lovesac has a 52-week low of $14.18 and a 52-week high of $29.81.

Lovesac (NASDAQ:LOVEGet Free Report) last released its earnings results on Thursday, April 11th. The company reported $1.87 earnings per share (EPS) 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 firm had revenue of $250.00 million during the quarter, compared to analysts’ expectations of $265.35 million. During the same period in the prior year, the business earned $1.74 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. Analysts forecast that Lovesac will post 1.18 earnings per share for the current year.

Insider Activity at Lovesac

In other Lovesac news, CEO Shawn David Nelson sold 6,000 shares of Lovesac stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.44, for a total transaction of $134,640.00. Following the completion of the sale, the chief executive officer now owns 179,970 shares of the company’s stock, valued at $4,038,526.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Andrew R. Heyer purchased 3,856 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were acquired at an average price of $18.76 per share, for a total transaction of $72,338.56. Following the completion of the acquisition, the director now directly owns 3,856 shares in the company, valued at approximately $72,338.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Shawn David Nelson sold 6,000 shares of Lovesac stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $22.44, for a total value of $134,640.00. Following the sale, the chief executive officer now owns 179,970 shares in the company, valued at $4,038,526.80. The disclosure for this sale can be found here. 12.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lovesac

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in shares of Lovesac during the 1st quarter valued at $39,000. Byrne Asset Management LLC boosted its holdings in shares of Lovesac by 515.4% during the 1st quarter. Byrne Asset Management LLC now owns 3,200 shares of the company’s stock valued at $72,000 after buying an additional 2,680 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Lovesac during the 4th quarter valued at $116,000. Barclays PLC boosted its holdings in shares of Lovesac by 15.2% during the 3rd quarter. Barclays PLC now owns 6,210 shares of the company’s stock valued at $124,000 after buying an additional 818 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Lovesac by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock valued at $218,000 after buying an additional 726 shares in the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s stock.

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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