Lovesac (NASDAQ:LOVE) Now Covered by Analysts at Maxim Group

Maxim Group initiated coverage on shares of Lovesac (NASDAQ:LOVE) in a research report released on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $36.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. Canaccord Genuity Group cut their target price on shares of Lovesac from $44.00 to $36.00 and set a buy rating for the company in a research note on Friday, April 12th. Roth Mkm reaffirmed a buy rating and set a $34.00 target price on shares of Lovesac in a research note on Wednesday, April 10th.

Lovesac Price Performance

Shares of NASDAQ LOVE opened at $20.80 on Wednesday. The firm has a fifty day moving average price of $22.51 and a 200-day moving average price of $21.75. The stock has a market cap of $322.19 million, a PE ratio of 14.86, a price-to-earnings-growth ratio of 0.45 and a beta of 2.87. Lovesac has a 1 year low of $14.18 and a 1 year high of $29.81.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Thursday, April 11th. The company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.06). The firm had revenue of $250.00 million during the quarter, compared to analysts’ expectations of $265.35 million. Lovesac had a return on equity of 12.19% and a net margin of 3.39%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the company earned $1.74 earnings per share. On average, research analysts expect that Lovesac will post 1.3 EPS for the current year.

Insider Activity at Lovesac

In related news, CEO Shawn David Nelson sold 6,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 179,970 shares of the company’s stock, valued at $4,038,526.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lovesac news, Director Andrew R. Heyer acquired 3,856 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was acquired at an average cost of $18.76 per share, with a total value of $72,338.56. Following the purchase, the director now directly owns 3,856 shares of the company’s stock, valued at approximately $72,338.56. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Shawn David Nelson sold 6,000 shares of Lovesac stock in a transaction on Friday, March 15th. The stock was sold at an average price of $22.44, for a total transaction of $134,640.00. Following the completion of the transaction, the chief executive officer now directly owns 179,970 shares of the company’s stock, valued at $4,038,526.80. The disclosure for this sale can be found here. 12.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lovesac

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake 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 buying an additional 20,300 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Lovesac in the 4th quarter worth about $340,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Lovesac in the 4th quarter worth about $228,000. Barclays PLC lifted its holdings in shares of Lovesac by 264.3% in the 4th quarter. Barclays PLC now owns 22,626 shares of the company’s stock worth $578,000 after acquiring an additional 16,416 shares during the last quarter. Finally, 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. 91.32% of the stock is owned by hedge funds and other institutional investors.

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.