Lovesac (NASDAQ:LOVE) Issues Earnings Results

Lovesac (NASDAQ:LOVE) posted its quarterly earnings data on Thursday. The company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.06), Briefing.com reports. Lovesac had a return on equity of 12.69% and a net margin of 3.39%. The firm had revenue of $250.00 million for the quarter, compared to analysts’ expectations of $265.35 million. During the same period in the prior year, the firm earned $1.74 earnings per share. Lovesac’s revenue was up 4.8% compared to the same quarter last year.

Lovesac Stock Performance

Shares of LOVE opened at $19.51 on Friday. Lovesac has a 52-week low of $14.18 and a 52-week high of $30.93. The stock’s 50-day simple moving average is $22.89 and its 200 day simple moving average is $21.73. The stock has a market capitalization of $302.21 million, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 0.45 and a beta of 2.87.

Insider Buying and Selling at Lovesac

In related news, CEO Shawn David Nelson sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $22.44, for a total transaction of $134,640.00. Following the sale, the chief executive officer now owns 179,970 shares of the company’s stock, valued at approximately $4,038,526.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.09% of the company’s stock.

Institutional Trading of Lovesac

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Lovesac by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 829,792 shares of the company’s stock worth $21,201,000 after purchasing an additional 20,300 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in Lovesac during the fourth quarter valued at approximately $228,000. Barclays PLC raised its stake in shares of Lovesac by 264.3% during the fourth quarter. Barclays PLC now owns 22,626 shares of the company’s stock worth $578,000 after acquiring an additional 16,416 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Lovesac by 120.6% in the 4th quarter. Nuveen Asset Management LLC now owns 207,912 shares of the company’s stock worth $5,312,000 after acquiring an additional 113,676 shares during the last quarter. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Lovesac in the 4th quarter valued at $295,000. 91.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Roth Mkm reaffirmed a “buy” rating and set a $34.00 price target on shares of Lovesac in a research report on Wednesday. Canaccord Genuity Group dropped their price target on shares of Lovesac from $44.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday.

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 lovesac.com website, as well as showrooms at top tier malls, lifestyle centers, mobile concierges, kiosks, and street locations in 40 states of the United States; and in store pop-up- shops and shop-in-shops.