Lovesac (LOVE) Set to Announce Earnings on Thursday

Lovesac (NASDAQ:LOVE) is scheduled to be releasing its earnings data before the market opens on Thursday, April 11th. Analysts expect Lovesac to post earnings of $1.92 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Lovesac Stock Up 1.9 %

Shares of NASDAQ LOVE opened at $24.30 on Tuesday. The firm has a market capitalization of $376.41 million, a P/E ratio of 19.13, a P/E/G ratio of 0.31 and a beta of 2.87. The stock’s 50-day simple moving average is $22.99 and its two-hundred day simple moving average is $21.70. Lovesac has a twelve month low of $14.18 and a twelve month high of $30.93.

Insiders Place Their Bets

In other Lovesac news, CEO Shawn David Nelson sold 6,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.44, for a total value of $134,640.00. Following the transaction, the chief executive officer now directly owns 179,970 shares in the company, valued at approximately $4,038,526.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.09% of the company’s stock.

Hedge Funds Weigh In On Lovesac

A number of institutional investors have recently added to or reduced their stakes in LOVE. JPMorgan Chase & Co. increased its position in shares of Lovesac by 127.2% during the 1st quarter. JPMorgan Chase & Co. now owns 40,858 shares of the company’s stock valued at $2,209,000 after purchasing an additional 22,872 shares during the last quarter. Raymond James & Associates increased its position in shares of Lovesac by 39.6% during the 1st quarter. Raymond James & Associates now owns 62,068 shares of the company’s stock valued at $3,355,000 after purchasing an additional 17,615 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Lovesac by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 47,547 shares of the company’s stock valued at $2,571,000 after purchasing an additional 418 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Lovesac during the 1st quarter valued at about $1,631,000. Finally, MetLife Investment Management LLC increased its position in shares of Lovesac by 54.2% during the 1st quarter. MetLife Investment Management LLC now owns 6,964 shares of the company’s stock valued at $376,000 after purchasing an additional 2,447 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors.

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 lovesac.com website, as well as showrooms at top tier malls, lifestyle centers, mobile concierges, kiosks, and street locations in 40 states of the United States; and in store pop-up- shops and shop-in-shops.