Quest Partners LLC Boosts Stock Position in The Lovesac Company (NASDAQ:LOVE)

Quest Partners LLC boosted its holdings in shares of The Lovesac Company (NASDAQ:LOVE) by 797.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,572 shares of the company’s stock after purchasing an additional 7,617 shares during the quarter. Quest Partners LLC’s holdings in Lovesac were worth $194,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. EntryPoint Capital LLC purchased a new stake in shares of Lovesac during the 1st quarter valued at about $39,000. SG Americas Securities LLC raised its position in Lovesac by 106.1% during the first quarter. SG Americas Securities LLC now owns 9,376 shares of the company’s stock valued at $212,000 after purchasing an additional 4,826 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Lovesac by 8.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock valued at $218,000 after purchasing an additional 726 shares during the last quarter. Grandeur Peak Global Advisors LLC purchased a new position in shares of Lovesac in the 1st quarter worth approximately $247,000. Finally, Wesbanco Bank Inc. bought a new position in shares of Lovesac during the 2nd quarter valued at approximately $305,000. Institutional investors own 91.32% of the company’s stock.

Lovesac Stock Performance

Shares of NASDAQ:LOVE opened at $26.25 on Monday. The firm has a market cap of $408.21 million, a PE ratio of 30.88, a price-to-earnings-growth ratio of 0.55 and a beta of 2.90. The firm’s 50 day simple moving average is $24.70 and its 200-day simple moving average is $23.98. The Lovesac Company has a one year low of $14.18 and a one year high of $30.39.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Maxim Group raised their price target on Lovesac from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Roth Mkm lifted their price target on shares of Lovesac from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday. Canaccord Genuity Group reissued a “buy” rating and issued a $36.00 price objective on shares of Lovesac in a research report on Friday. Craig Hallum boosted their target price on Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday. Finally, DA Davidson increased their price target on Lovesac from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $34.50.

Insider Activity

In related news, CEO Shawn David Nelson sold 18,988 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $23.33, for a total value of $442,990.04. Following the completion of the sale, the chief executive officer now directly owns 165,855 shares of the company’s stock, valued at $3,869,397.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 12.33% of the company’s stock.

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.