Barclays PLC Buys 15,390 Shares of The Lovesac Company (NASDAQ:LOVE)

Barclays PLC raised its stake in The Lovesac Company (NASDAQ:LOVE) by 312.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,312 shares of the company’s stock after acquiring an additional 15,390 shares during the quarter. Barclays PLC’s holdings in Lovesac were worth $583,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Jane Street Group LLC lifted its stake in Lovesac by 74.4% in the third quarter. Jane Street Group LLC now owns 80,776 shares of the company’s stock valued at $2,314,000 after purchasing an additional 34,451 shares during the last quarter. Millrace Asset Group Inc. raised its stake in shares of Lovesac by 63.0% in the third quarter. Millrace Asset Group Inc. now owns 68,503 shares of the company’s stock valued at $1,963,000 after buying an additional 26,481 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Lovesac by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock valued at $17,951,000 after buying an additional 26,872 shares during the last quarter. Anson Funds Management LP grew its stake in shares of Lovesac by 13.9% during the 3rd quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock worth $23,332,000 after acquiring an additional 99,651 shares during the period. Finally, Hood River Capital Management LLC increased its holdings in Lovesac by 8.8% in the 2nd quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock worth $17,477,000 after acquiring an additional 62,615 shares during the last quarter. 91.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Canaccord Genuity Group upped their price objective on shares of Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a report on Monday, December 2nd. DA Davidson dropped their price target on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Finally, Roth Mkm lifted their price objective 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. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $38.33.

Lovesac Trading Up 1.0 %

Shares of Lovesac stock opened at $26.44 on Friday. The company’s 50-day moving average price is $29.97 and its 200-day moving average price is $27.29. The Lovesac Company has a 12-month low of $18.21 and a 12-month high of $39.49. The company has a market cap of $407.97 million, a price-to-earnings ratio of 77.76, a PEG ratio of 1.96 and a beta of 3.04.

Lovesac (NASDAQ:LOVE) last posted its earnings results on Thursday, December 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.02. The business had revenue of $149.90 million for the quarter, compared to analysts’ expectations of $155.26 million. Lovesac had a net margin of 1.04% and a return on equity of 3.51%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.15) EPS. On average, sell-side analysts predict that The Lovesac Company will post 0.39 earnings per share for the current year.

Insider Buying and Selling

In other Lovesac news, Director Walter Field Mclallen bought 4,000 shares of Lovesac stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average cost of $24.68 per share, for a total transaction of $98,720.00. Following the completion of the transaction, the director now directly owns 23,540 shares in the company, valued at $580,967.20. This represents a 20.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 12.33% of the stock is currently owned by company insiders.

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.