Jane Street Group LLC Purchases 34,451 Shares of The Lovesac Company (NASDAQ:LOVE)

Jane Street Group LLC increased its position in The Lovesac Company (NASDAQ:LOVE) by 74.4% in the 3rd quarter, Holdings Channel reports. The firm owned 80,776 shares of the company’s stock after buying an additional 34,451 shares during the quarter. Jane Street Group LLC’s holdings in Lovesac were worth $2,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in shares of Lovesac in the 2nd quarter valued at $43,000. SG Americas Securities LLC bought a new stake in Lovesac in the third quarter valued at about $170,000. Quest Partners LLC raised its position in Lovesac by 797.6% in the second quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock worth $194,000 after purchasing an additional 7,617 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in Lovesac during the third quarter worth about $242,000. Finally, Versor Investments LP acquired a new stake in Lovesac during the third quarter valued at approximately $255,000. 91.32% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Albert Jack Krause sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total value of $262,200.00. Following the transaction, the director now owns 177,849 shares of the company’s stock, valued at approximately $4,663,200.78. This trade represents a 5.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.33% of the company’s stock.

Analyst Ratings Changes

LOVE has been the subject of several analyst reports. Craig Hallum raised their target price 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. DA Davidson dropped their target price on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Finally, Canaccord Genuity Group boosted their price target on shares of Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. 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 a consensus price target of $38.33.

Lovesac Stock Up 2.2 %

Shares of NASDAQ LOVE opened at $23.93 on Monday. The Lovesac Company has a 12-month low of $18.21 and a 12-month high of $39.49. The firm’s 50-day simple moving average is $31.56 and its 200 day simple moving average is $27.20. The company has a market cap of $369.31 million, a price-to-earnings ratio of 46.92, a price-to-earnings-growth ratio of 0.99 and a beta of 2.97.

Lovesac (NASDAQ:LOVE) last announced its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. The company had revenue of $149.90 million for the quarter, compared to analyst estimates of $155.26 million. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. Lovesac’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.15) earnings per share. On average, equities analysts expect that The Lovesac Company will post 1.09 earnings per share for the current year.

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.