The Lovesac Company (NASDAQ:LOVE) Director Andrew R. Heyer sold 106,079 shares of the firm’s stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $36.08, for a total transaction of $3,827,330.32. Following the transaction, the director now directly owns 128,687 shares in the company, valued at $4,643,026.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of LOVE stock opened at $34.60 on Friday. The firm has a market cap of $502.88 million, a price-to-earnings ratio of -46.13 and a beta of 2.57. The company’s 50 day moving average is $28.30 and its 200 day moving average is $22.29. The Lovesac Company has a 52-week low of $3.99 and a 52-week high of $37.93.

The Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Wednesday, September 9th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.55) by $0.47. The Lovesac had a negative net margin of 4.14% and a negative return on equity of 12.64%. The business had revenue of $61.90 million for the quarter, compared to analyst estimates of $52.35 million. During the same period in the previous year, the company earned ($0.31) earnings per share. The business’s revenue for the quarter was up 28.7% on a year-over-year basis. On average, analysts anticipate that The Lovesac Company will post -0.8 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LOVE. Driehaus Capital Management LLC purchased a new position in The Lovesac in the second quarter worth $14,322,000. Silvercrest Asset Management Group LLC purchased a new position in The Lovesac in the second quarter worth $4,958,000. Russell Investments Group Ltd. grew its holdings in The Lovesac by 412.8% in the second quarter. Russell Investments Group Ltd. now owns 111,323 shares of the company’s stock worth $2,922,000 after purchasing an additional 89,615 shares during the last quarter. Intrinsic Edge Capital Management LLC purchased a new position in The Lovesac in the second quarter worth $2,256,000. Finally, JPMorgan Chase & Co. grew its holdings in The Lovesac by 2,813.8% in the first quarter. JPMorgan Chase & Co. now owns 84,441 shares of the company’s stock worth $492,000 after purchasing an additional 81,543 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on LOVE. Canaccord Genuity raised their target price on shares of The Lovesac from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. BidaskClub raised shares of The Lovesac from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 10th. Zacks Investment Research lowered shares of The Lovesac from a “buy” rating to a “hold” rating in a research report on Wednesday, August 12th. DA Davidson raised their target price on shares of The Lovesac from $37.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Finally, Craig Hallum lifted their price objective on shares of The Lovesac from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, September 10th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $34.89.

The Lovesac Company Profile

The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. The company offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, foot sac blankets, decorative pillows, fitted seat tables, and ottomans.

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