Virtu Financial LLC Invests $340,000 in The Lovesac Company (NASDAQ:LOVE)

Virtu Financial LLC purchased a new stake in shares of The Lovesac Company (NASDAQ:LOVE) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 13,294 shares of the company’s stock, valued at approximately $340,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LOVE. Barclays PLC raised its holdings in Lovesac by 15.2% in the 3rd quarter. Barclays PLC now owns 6,210 shares of the company’s stock valued at $124,000 after acquiring an additional 818 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Lovesac in the 3rd quarter valued at approximately $803,000. Millrace Asset Group Inc. raised its holdings in Lovesac by 73.9% in the 3rd quarter. Millrace Asset Group Inc. now owns 115,704 shares of the company’s stock valued at $2,305,000 after acquiring an additional 49,153 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Lovesac in the 3rd quarter valued at approximately $1,189,000. Finally, Graham Capital Management L.P. acquired a new position in Lovesac in the 3rd quarter valued at approximately $255,000. 91.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Roth Mkm reaffirmed a “buy” rating and issued a $30.00 price target on shares of Lovesac in a report on Tuesday, June 11th. DA Davidson increased their target price on Lovesac from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Canaccord Genuity Group reissued a “buy” rating and issued a $36.00 target price on shares of Lovesac in a report on Friday, June 14th. Maxim Group increased their target price on Lovesac from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Monday. Finally, Oppenheimer dropped their target price on Lovesac from $60.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Lovesac presently has a consensus rating of “Buy” and an average price target of $34.20.

Lovesac Price Performance

NASDAQ LOVE opened at $23.27 on Thursday. The firm has a market cap of $361.85 million, a PE ratio of 27.38, a price-to-earnings-growth ratio of 0.64 and a beta of 2.86. The Lovesac Company has a one year low of $14.18 and a one year high of $29.81. The stock’s 50 day simple moving average is $24.57 and its 200 day simple moving average is $24.10.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Thursday, June 13th. The company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.16. The business had revenue of $132.64 million for the quarter, compared to analyst estimates of $128.20 million. Lovesac had a return on equity of 7.55% and a net margin of 2.17%. As a group, equities analysts expect that The Lovesac Company will post 1.09 earnings per share for the current year.

Insider Buying and Selling

In other Lovesac news, CFO Keith R. Siegner purchased 4,800 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 4,800 shares in the company, valued at $99,840. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Keith R. Siegner acquired 4,800 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were purchased at an average cost of $20.80 per share, for a total transaction of $99,840.00. Following the transaction, the chief financial officer now owns 4,800 shares of the company’s stock, valued at $99,840. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andrew R. Heyer acquired 3,856 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was purchased at an average price 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 in the company, valued at approximately $72,338.56. The disclosure for this purchase can be found here. 12.33% of the stock is owned by corporate insiders.

Lovesac Company 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.