Lovesac (NASDAQ:LOVE) Price Target Raised to $38.00

Lovesac (NASDAQ:LOVE) had its price target boosted by Maxim Group from $36.00 to $38.00 in a research report sent to investors on Monday, MarketBeat reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently issued reports on LOVE. DA Davidson increased their target price on shares of Lovesac from $24.00 to $32.00 and gave the company a buy rating in a report on Friday, June 14th. Canaccord Genuity Group reiterated a buy rating and set a $36.00 target price on shares of Lovesac in a research report on Friday, June 14th. Roth Mkm restated a buy rating and issued a $30.00 price target on shares of Lovesac in a research report on Tuesday, June 11th. Finally, Oppenheimer decreased their price objective on shares of Lovesac from $60.00 to $35.00 and set an outperform rating on the stock in a research report on Wednesday, May 1st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Lovesac has a consensus rating of Buy and an average price target of $34.20.

Lovesac Price Performance

LOVE opened at $23.27 on Monday. The business has a 50 day simple moving average of $24.57 and a 200-day simple moving average of $24.10. Lovesac has a 12 month low of $14.18 and a 12 month high of $29.81. The stock has a market capitalization of $361.85 million, a P/E ratio of 27.38, a P/E/G ratio of 0.64 and a beta of 2.86.

Lovesac (NASDAQ:LOVE) last issued its earnings results on Thursday, June 13th. The company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($0.99) by $0.16. The company had revenue of $132.64 million for the quarter, compared to analyst estimates of $128.20 million. Lovesac had a net margin of 2.17% and a return on equity of 7.55%. Research analysts anticipate that Lovesac will post 1.09 EPS for the current year.

Insider Activity at Lovesac

In other news, Director Andrew R. Heyer purchased 3,856 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were bought 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 $72,338.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Lovesac news, CFO Keith R. Siegner bought 4,800 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was purchased at an average cost of $20.80 per share, for a total transaction of $99,840.00. Following the completion of the purchase, the chief financial officer now owns 4,800 shares of the company’s stock, valued at approximately $99,840. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrew R. Heyer purchased 3,856 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was acquired at an average cost of $18.76 per share, for a total transaction of $72,338.56. Following the completion of the purchase, the director now owns 3,856 shares in the company, valued at approximately $72,338.56. The disclosure for this purchase can be found here. 12.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Halter Ferguson Financial Inc. acquired a new position in Lovesac during the fourth quarter worth approximately $5,160,000. Anson Funds Management LP acquired a new stake in shares of Lovesac during the 1st quarter worth $1,742,000. GSA Capital Partners LLP acquired a new stake in shares of Lovesac during the 3rd quarter worth $1,189,000. Millrace Asset Group Inc. boosted its holdings in Lovesac by 73.9% in the third quarter. Millrace Asset Group Inc. now owns 115,704 shares of the company’s stock valued at $2,305,000 after acquiring an additional 49,153 shares during the last quarter. Finally, LSV Asset Management acquired a new stake in Lovesac during the first quarter worth about $988,000. 91.32% of the stock is currently 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.