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

The Lovesac Company (NASDAQ:LOVE) Director Albert Jack Krause sold 10,000 shares of Lovesac stock in a transaction 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 directly owns 177,849 shares of the company’s stock, valued at $4,663,200.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Lovesac Stock Performance

Shares of NASDAQ LOVE opened at $25.47 on Friday. The company has a market cap of $396.08 million, a PE ratio of 29.96, a P/E/G ratio of 0.71 and a beta of 2.90. The firm’s 50 day moving average price is $24.76 and its 200-day moving average price is $24.41. The Lovesac Company has a 52-week low of $14.18 and a 52-week high of $30.39.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. EntryPoint Capital LLC bought a new stake in shares of Lovesac during the 1st quarter valued at about $39,000. Meeder Asset Management Inc. bought a new position in Lovesac in the 2nd quarter worth $43,000. SG Americas Securities LLC purchased a new position in Lovesac during the third quarter valued at $170,000. Quest Partners LLC increased 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 buying an additional 7,617 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Lovesac by 8.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock worth $218,000 after buying an additional 726 shares in the last quarter. 91.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LOVE has been the topic of a number of research reports. Roth Mkm raised their price objective on Lovesac from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, September 13th. Maxim Group raised their price objective on Lovesac from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Craig Hallum boosted their target price on Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $36.00 price target on shares of Lovesac in a research note on Friday, September 13th. Finally, DA Davidson restated 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, According to data from MarketBeat, the stock currently 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.