Walter Field Mclallen Acquires 4,000 Shares of The Lovesac Company (NASDAQ:LOVE) Stock

The Lovesac Company (NASDAQ:LOVE) Director Walter Field Mclallen purchased 4,000 shares of Lovesac stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $24.68 per share, with a total value of $98,720.00. Following the acquisition, the director now owns 23,540 shares in the company, valued at approximately $580,967.20. This represents a 20.47 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Walter Field Mclallen also recently made the following trade(s):

• On Monday, December 23rd, Walter Field Mclallen acquired 1,000 shares of Lovesac stock. The shares were acquired at an average cost of $23.80 per share, for a total transaction of $23,800.00.

Lovesac Price Performance

Shares of NASDAQ:LOVE opened at $23.88 on Tuesday. The firm has a market capitalization of $368.54 million, a P/E ratio of 46.82, a P/E/G ratio of 0.99 and a beta of 2.97. The business’s 50-day moving average is $31.49 and its 200 day moving average is $27.16. The Lovesac Company has a 1 year low of $18.21 and a 1 year high of $39.49.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.02. The firm had revenue of $149.90 million during 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 revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm posted ($0.15) EPS. On average, analysts expect that The Lovesac Company will post 1.09 EPS for the current year.

Hedge Funds Weigh In On Lovesac

Several hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in Lovesac during the 2nd quarter valued at about $43,000. SG Americas Securities LLC acquired a new stake in Lovesac during the 3rd quarter valued at approximately $170,000. Quest Partners LLC boosted its holdings in shares of Lovesac by 797.6% in the 2nd quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock valued at $194,000 after acquiring an additional 7,617 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Lovesac in the third quarter worth $231,000. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Lovesac during the third quarter worth $242,000. 91.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on LOVE. Canaccord Genuity Group increased their target price on Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Craig Hallum raised their price objective on Lovesac from $30.00 to $35.00 and gave the company 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 stock a “buy” rating in a report on Tuesday, December 10th. Finally, DA Davidson lowered their price target on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Lovesac currently has a consensus rating of “Buy” and a consensus 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.