Marshall Wace LLP Invests $4.33 Million in The Lovesac Company (NASDAQ:LOVE)

Marshall Wace LLP acquired a new position in shares of The Lovesac Company (NASDAQ:LOVE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 191,655 shares of the company’s stock, valued at approximately $4,328,000. Marshall Wace LLP owned approximately 1.23% of Lovesac at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EntryPoint Capital LLC bought a new position in shares of Lovesac during the first quarter valued at $39,000. Meeder Asset Management Inc. bought a new stake in shares of Lovesac during the second quarter valued at approximately $43,000. Quest Partners LLC increased its position in shares of Lovesac by 797.6% during the second 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 in the last quarter. SG Americas Securities LLC raised its holdings in Lovesac by 106.1% in the 1st quarter. SG Americas Securities LLC now owns 9,376 shares of the company’s stock worth $212,000 after acquiring an additional 4,826 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in 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 acquiring an additional 726 shares in the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on LOVE shares. Maxim Group boosted their price target on Lovesac from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Roth Mkm raised their price target on shares of Lovesac from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, September 13th. Craig Hallum lifted their price target on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. DA Davidson increased their price objective on shares of Lovesac from $24.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $36.00 target price on shares of Lovesac in a research report on Friday, September 13th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Lovesac currently has an average rating of “Buy” and a consensus price target of $34.50.

Lovesac Stock Down 3.8 %

NASDAQ LOVE opened at $27.55 on Wednesday. The company has a 50-day moving average price of $24.79 and a 200-day moving average price of $24.36. The Lovesac Company has a 52 week low of $14.18 and a 52 week high of $30.39. The firm has a market capitalization of $428.43 million, a P/E ratio of 32.41, a PEG ratio of 0.71 and a beta of 2.90.

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.