Lovesac (NASDAQ:LOVE) Given “Buy” Rating at Roth Mkm

Roth Mkm reissued their buy rating on shares of Lovesac (NASDAQ:LOVE) in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a $30.00 price target on the stock.

LOVE has been the topic of several other reports. Canaccord Genuity Group reaffirmed a buy rating and set a $36.00 price target on shares of Lovesac in a research note on Friday, June 14th. Oppenheimer decreased their target price on shares of Lovesac from $60.00 to $35.00 and set an outperform rating on the stock in a research report on Wednesday, May 1st. DA Davidson boosted their price target on Lovesac from $24.00 to $32.00 and gave the company a buy rating in a report on Friday, June 14th. Finally, Maxim Group raised their price objective on Lovesac from $36.00 to $38.00 and gave the stock a buy rating in a report on Monday, June 17th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of Buy and an average target price of $34.20.

Lovesac Price Performance

Shares of Lovesac stock opened at $22.27 on Wednesday. Lovesac has a 1 year low of $14.18 and a 1 year high of $29.81. The business has a 50 day moving average price of $24.88 and a 200 day moving average price of $23.89. The company has a market capitalization of $346.30 million, a P/E ratio of 26.20, a P/E/G ratio of 0.59 and a beta of 2.94.

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

Insider Activity at Lovesac

In other Lovesac news, CEO Shawn David Nelson sold 18,988 shares of Lovesac stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $23.33, for a total value of $442,990.04. Following the transaction, the chief executive officer now owns 165,855 shares in the company, valued at approximately $3,869,397.15. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Shawn David Nelson sold 18,988 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $23.33, for a total transaction of $442,990.04. Following the completion of the sale, the chief executive officer now directly owns 165,855 shares in the company, valued at approximately $3,869,397.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Keith R. Siegner bought 4,800 shares of Lovesac stock in a transaction that occurred on Friday, April 19th. The stock was purchased at an average price of $20.80 per share, for a total transaction of $99,840.00. Following the acquisition, 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 insiders.

Institutional Trading of Lovesac

A number of institutional investors and hedge funds have recently bought and sold shares of the business. EntryPoint Capital LLC acquired a new position in Lovesac during the first quarter valued at approximately $39,000. Byrne Asset Management LLC raised its stake in shares of Lovesac by 515.4% in the 1st quarter. Byrne Asset Management LLC now owns 3,200 shares of the company’s stock valued at $72,000 after acquiring an additional 2,680 shares during the period. SG Americas Securities LLC acquired a new position in shares of Lovesac during the 4th quarter valued at $116,000. Price T Rowe Associates Inc. MD boosted its position in Lovesac by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock worth $218,000 after purchasing an additional 726 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Lovesac during the 4th quarter worth $261,000. Institutional investors and hedge funds own 91.32% of the company’s stock.

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.