Semanteon Capital Management LP Acquires New Stake in The Lovesac Company (NASDAQ:LOVE)

Semanteon Capital Management LP bought a new position in The Lovesac Company (NASDAQ:LOVE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,248 shares of the company’s stock, valued at approximately $380,000. Semanteon Capital Management LP owned approximately 0.09% of Lovesac at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Lovesac by 8.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock worth $218,000 after purchasing an additional 726 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Lovesac by 12.8% in the 1st quarter. Russell Investments Group Ltd. now owns 13,966 shares of the company’s stock worth $316,000 after buying an additional 1,584 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Lovesac in the 1st quarter worth $39,000. Meeder Asset Management Inc. purchased a new position in shares of Lovesac in the 2nd quarter worth $43,000. Finally, Rhumbline Advisers boosted its stake in shares of Lovesac by 12.4% in the 2nd quarter. Rhumbline Advisers now owns 22,199 shares of the company’s stock worth $501,000 after buying an additional 2,449 shares during the last quarter. Institutional investors own 91.32% of the company’s stock.

Insider Buying and Selling at Lovesac

In other Lovesac news, Director Albert Jack Krause sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total transaction of $262,200.00. Following the sale, the director now directly owns 177,849 shares of the company’s stock, valued at $4,663,200.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.33% of the company’s stock.

Lovesac Stock Performance

NASDAQ LOVE opened at $30.79 on Tuesday. The company has a market capitalization of $479.09 million, a PE ratio of 60.37, a price-to-earnings-growth ratio of 0.77 and a beta of 2.91. The business’s fifty day moving average is $25.78 and its 200 day moving average is $25.05. The Lovesac Company has a fifty-two week low of $14.83 and a fifty-two week high of $30.85.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, September 12th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.08. The company had revenue of $156.59 million for the quarter, compared to the consensus estimate of $154.01 million. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. On average, sell-side analysts forecast that The Lovesac Company will post 1.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LOVE. DA Davidson restated a “buy” rating and issued a $32.00 price target on shares of Lovesac in a research note on Thursday, October 3rd. Roth Mkm raised their price target on Lovesac from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Canaccord Genuity Group restated a “buy” rating and issued a $36.00 price target on shares of Lovesac in a research note on Friday, September 13th. Finally, Craig Hallum raised their price target on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $34.50.

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 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.