Lovesac (NASDAQ:LOVE) Stock Rating Reaffirmed by DA Davidson

DA Davidson reiterated their buy rating on shares of Lovesac (NASDAQ:LOVE) in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a $32.00 price target on the stock.

Several other research analysts have also weighed in on the company. Maxim Group upped their price target on Lovesac from $36.00 to $38.00 and gave the company a buy rating in a research report on Monday, June 17th. Craig Hallum increased 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. Roth Mkm increased their price target on shares of Lovesac from $30.00 to $31.00 and gave the stock a buy rating in a research note on Friday, September 13th. Finally, Canaccord Genuity Group reiterated a buy rating and issued a $36.00 target price on shares of Lovesac in a research note on Friday, September 13th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Lovesac currently has an average rating of Buy and a consensus price target of $34.50.

Lovesac Price Performance

Shares of LOVE stock opened at $25.47 on Thursday. Lovesac has a 12-month low of $14.18 and a 12-month high of $30.39. The firm has a market capitalization of $396.08 million, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 0.71 and a beta of 2.90. The business has a 50 day simple moving average of $24.72 and a 200 day simple moving average of $24.42.

Insider Buying and Selling

In other Lovesac news, Director Albert Jack Krause sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total value of $262,200.00. Following the completion of the transaction, the director now owns 177,849 shares of the company’s stock, valued at approximately $4,663,200.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.33% of the stock is owned by insiders.

Institutional Trading of Lovesac

Hedge funds have recently bought and sold shares of the business. CastleKnight Management LP raised its stake in Lovesac by 251.3% in the 4th quarter. CastleKnight Management LP now owns 40,400 shares of the company’s stock valued at $1,032,000 after acquiring an additional 28,900 shares during the period. Virtu Financial LLC purchased a new stake in shares of Lovesac during the fourth quarter valued at $340,000. LSV Asset Management purchased a new stake in shares of Lovesac during the first quarter valued at $988,000. SG Americas Securities LLC boosted its position in Lovesac by 106.1% in the first quarter. SG Americas Securities LLC now owns 9,376 shares of the company’s stock worth $212,000 after purchasing an additional 4,826 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Lovesac during the 1st quarter valued at about $489,000. Institutional investors and hedge funds own 91.32% of the company’s stock.

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.