DA Davidson Reaffirms Buy Rating for Lovesac (NASDAQ:LOVE)

Lovesac (NASDAQ:LOVE)‘s stock had its “buy” rating restated by DA Davidson in a research note issued on Tuesday,Benzinga reports. They currently have a $35.00 price objective on the stock. DA Davidson’s target price would indicate a potential upside of 86.37% from the company’s previous close.

Other research analysts have also issued reports about the company. Roth Mkm upped their target price on Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Canaccord Genuity Group increased their price objective on shares of Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $38.33.

Lovesac Stock Up 2.3 %

Shares of LOVE stock opened at $18.78 on Tuesday. Lovesac has a 12 month low of $15.22 and a 12 month high of $39.49. The firm has a market cap of $289.83 million, a PE ratio of 55.24, a price-to-earnings-growth ratio of 0.65 and a beta of 3.05. The stock has a 50 day moving average of $21.57 and a 200-day moving average of $26.23.

Insider Buying and Selling at Lovesac

In related news, Director Albert Jack Krause sold 30,000 shares of Lovesac stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $26.33, for a total transaction of $789,900.00. Following the completion of the transaction, the director now directly owns 147,849 shares of the company’s stock, valued at $3,892,864.17. This trade represents a 16.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 12.33% of the company’s stock.

Institutional Trading of Lovesac

Hedge funds have recently modified their holdings of the company. Jane Street Group LLC grew its position in Lovesac by 74.4% during the 3rd 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. JPMorgan Chase & Co. grew its holdings in shares of Lovesac by 76.1% during the third quarter. JPMorgan Chase & Co. now owns 33,510 shares of the company’s stock worth $960,000 after purchasing an additional 14,480 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Lovesac during the third quarter worth $231,000. Bank of New York Mellon Corp increased its stake in shares of Lovesac by 9.3% in the fourth quarter. Bank of New York Mellon Corp now owns 489,613 shares of the company’s stock valued at $11,584,000 after buying an additional 41,751 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Lovesac by 305.0% in the fourth quarter. SG Americas Securities LLC now owns 24,064 shares of the company’s stock valued at $569,000 after buying an additional 18,122 shares during the last quarter. 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.