Lovesac (NASDAQ:LOVE) Posts Earnings Results, Misses Expectations By $0.06 EPS

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

Lovesac Trading Down 5.9 %

LOVE opened at $19.51 on Friday. The stock’s 50-day moving average price is $22.89 and its 200 day moving average price is $21.73. Lovesac has a 12-month low of $14.18 and a 12-month high of $30.93. The firm has a market cap of $302.21 million, a price-to-earnings ratio of 13.94, a PEG ratio of 0.45 and a beta of 2.87.

Analyst Ratings Changes

Several analysts recently commented on the company. Roth Mkm reiterated 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 Lovesac from $44.00 to $36.00 and set a “buy” rating for the company in a research report on Friday.

Insider Buying and Selling

In related news, CEO Shawn David Nelson sold 6,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.44, for a total transaction of $134,640.00. Following the transaction, 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 filing with the SEC, which is available through this hyperlink. 12.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lovesac

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Lovesac by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 829,792 shares of the company’s stock valued at $21,201,000 after purchasing an additional 20,300 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Lovesac during the 4th quarter worth approximately $228,000. Barclays PLC grew its stake in Lovesac by 264.3% during the 4th quarter. Barclays PLC now owns 22,626 shares of the company’s stock worth $578,000 after buying an additional 16,416 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Lovesac by 120.6% during 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 period. Finally, Brevan Howard Capital Management LP acquired a new stake in Lovesac during the 4th quarter worth approximately $295,000. 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 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.