Geode Capital Management LLC Increases Stock Holdings in The Lovesac Company (NASDAQ:LOVE)

Geode Capital Management LLC increased its holdings in The Lovesac Company (NASDAQ:LOVE) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 336,210 shares of the company’s stock after buying an additional 3,979 shares during the period. Geode Capital Management LLC’s holdings in Lovesac were worth $9,634,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Jane Street Group LLC raised its position in Lovesac by 74.4% during the third quarter. Jane Street Group LLC now owns 80,776 shares of the company’s stock worth $2,314,000 after acquiring an additional 34,451 shares during the last quarter. Millrace Asset Group Inc. grew its position in shares of Lovesac by 63.0% in the third quarter. Millrace Asset Group Inc. now owns 68,503 shares of the company’s stock valued at $1,963,000 after purchasing an additional 26,481 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Lovesac by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock worth $17,951,000 after purchasing an additional 26,872 shares in the last quarter. Anson Funds Management LP raised its position in shares of Lovesac by 13.9% during the 3rd quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock worth $23,332,000 after purchasing an additional 99,651 shares during the last quarter. Finally, Hood River Capital Management LLC lifted its stake in Lovesac by 8.8% in the 2nd quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock valued at $17,477,000 after buying an additional 62,615 shares in the last quarter. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Lovesac Trading Down 1.0 %

Lovesac stock opened at $23.66 on Thursday. The stock has a fifty day moving average price of $30.83 and a 200 day moving average price of $27.09. The Lovesac Company has a 52 week low of $18.21 and a 52 week high of $39.49. The firm has a market capitalization of $365.14 million, a P/E ratio of 69.59, a PEG ratio of 1.49 and a beta of 2.97.

Lovesac (NASDAQ:LOVE) last posted its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.02. Lovesac had a net margin of 1.04% and a return on equity of 3.46%. The company had revenue of $149.90 million during the quarter, compared to the consensus estimate of $155.26 million. During the same quarter in the prior year, the company posted ($0.15) EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts predict that The Lovesac Company will post 0.5 EPS for the current year.

Insiders Place Their Bets

In other news, Director Walter Field Mclallen purchased 4,000 shares of the company’s stock in a transaction on Friday, December 20th. The stock was bought at an average cost of $24.68 per share, for a total transaction of $98,720.00. Following the completion of the purchase, the director now directly owns 23,540 shares of the company’s stock, valued at $580,967.20. The trade was a 20.47 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

LOVE has been the subject of several recent research reports. Canaccord Genuity Group raised their price target on Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Craig Hallum lifted their price objective on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Roth Mkm boosted their target price on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, DA Davidson decreased their price target on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $38.33.

About Lovesac

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.