The Lovesac Company (NASDAQ:LOVE) Receives Consensus Recommendation of “Buy” from Analysts

The Lovesac Company (NASDAQ:LOVE) has been given an average rating of “Buy” by the six brokerages that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have covered the stock in the last year is $34.50.

Several equities research analysts have recently commented on LOVE shares. Craig Hallum upped their price target on shares of Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Maxim Group upped 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 increased their target price on Lovesac from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Canaccord Genuity Group reiterated a “buy” rating and set a $36.00 target price on shares of Lovesac in a research report on Friday, September 13th. Finally, DA Davidson increased their price target on Lovesac from $24.00 to $32.00 and gave the company a “buy” rating in a report on Friday, June 14th.

Lovesac Price Performance

LOVE opened at $26.65 on Friday. Lovesac has a 1 year low of $14.18 and a 1 year high of $30.39. The stock has a 50-day moving average price of $24.77 and a 200-day moving average price of $24.01. The firm has a market cap of $414.43 million, a PE ratio of 31.35, a P/E/G ratio of 0.55 and a beta of 2.90.

Insider Activity at Lovesac

In other news, CEO Shawn David Nelson sold 18,988 shares of Lovesac stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $23.33, for a total value of $442,990.04. Following the sale, the chief executive officer now directly owns 165,855 shares of the company’s stock, valued at $3,869,397.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lovesac

Large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in Lovesac by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock worth $218,000 after purchasing an additional 726 shares during the period. Russell Investments Group Ltd. lifted its position in Lovesac by 12.8% during the 1st quarter. Russell Investments Group Ltd. now owns 13,966 shares of the company’s stock worth $316,000 after acquiring an additional 1,584 shares during the period. EntryPoint Capital LLC acquired a new stake in Lovesac during the 1st quarter worth approximately $39,000. Meeder Asset Management Inc. acquired a new stake in Lovesac during the 2nd quarter worth approximately $43,000. Finally, Rhumbline Advisers raised its stake in shares of Lovesac by 12.4% during the 2nd quarter. Rhumbline Advisers now owns 22,199 shares of the company’s stock worth $501,000 after buying an additional 2,449 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

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.