Albert Jack Krause Sells 10,000 Shares of The Lovesac Company (NASDAQ:LOVE) Stock

The Lovesac Company (NASDAQ:LOVE) Director Albert Jack Krause sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total transaction of $262,200.00. Following the sale, the director now owns 177,849 shares of the company’s stock, valued at approximately $4,663,200.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Lovesac Stock Performance

LOVE traded down $0.79 during trading on Thursday, hitting $25.47. The stock had a trading volume of 266,604 shares, compared to its average volume of 291,642. The firm has a market capitalization of $396.08 million, a P/E ratio of 30.16, a PEG ratio of 0.71 and a beta of 2.90. The company’s 50-day moving average price is $24.76 and its 200 day moving average price is $24.41. The Lovesac Company has a twelve month low of $14.18 and a twelve month high of $30.39.

Hedge Funds Weigh In On Lovesac

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Lovesac by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 841,537 shares of the company’s stock valued at $19,019,000 after buying an additional 11,745 shares during the period. Dimensional Fund Advisors LP grew 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 during the period. Hood River Capital Management LLC grew its stake in shares of Lovesac by 8.8% during the 2nd quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock worth $17,477,000 after purchasing an additional 62,615 shares during the period. American Century Companies Inc. grew its stake in shares of Lovesac by 78.6% during the 2nd quarter. American Century Companies Inc. now owns 291,579 shares of the company’s stock worth $6,584,000 after purchasing an additional 128,285 shares during the period. Finally, Skylands Capital LLC grew its stake in shares of Lovesac by 6.3% during the 2nd quarter. Skylands Capital LLC now owns 218,500 shares of the company’s stock worth $4,934,000 after purchasing an additional 12,960 shares during the period. 91.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LOVE has been the subject of several recent analyst reports. Maxim Group boosted their price objective on shares of Lovesac from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Craig Hallum boosted their price objective on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Roth Mkm lifted their target price on shares of Lovesac from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, September 13th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $36.00 target price on shares of Lovesac in a report on Friday, September 13th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $32.00 target price on shares of Lovesac in a report on Thursday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Lovesac has an average rating of “Buy” and a consensus target price of $34.50.

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.