Anson Funds Management LP Has $23.33 Million Holdings in The Lovesac Company (NASDAQ:LOVE)

Anson Funds Management LP grew its stake in The Lovesac Company (NASDAQ:LOVE) by 13.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 814,363 shares of the company’s stock after buying an additional 99,651 shares during the quarter. Lovesac makes up approximately 1.0% of Anson Funds Management LP’s portfolio, making the stock its 18th largest holding. Anson Funds Management LP owned 0.05% of Lovesac worth $23,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in shares of Lovesac in the second quarter worth about $43,000. SG Americas Securities LLC acquired a new stake in shares of Lovesac in the third quarter worth about $170,000. Quest Partners LLC lifted its position in shares of Lovesac by 797.6% in the second quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock worth $194,000 after buying an additional 7,617 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Lovesac by 8.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock worth $218,000 after buying an additional 726 shares during the last quarter. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of Lovesac in the third quarter worth about $242,000. Institutional investors and hedge funds own 91.32% of the company’s stock.

Insider Activity at Lovesac

In other news, Director Albert Jack Krause sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total value of $262,200.00. Following the sale, the director now directly owns 177,849 shares in the company, valued at approximately $4,663,200.78. This represents a 5.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 12.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Canaccord Genuity Group boosted their price target on Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. DA Davidson reissued a “buy” rating and set a $32.00 price objective on shares of Lovesac in a research report on Thursday, October 3rd. Craig Hallum boosted their price objective on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Finally, Roth Mkm boosted their price objective on Lovesac from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $36.67.

Lovesac Stock Performance

NASDAQ LOVE opened at $37.95 on Friday. The Lovesac Company has a twelve month low of $18.21 and a twelve month high of $39.49. The stock has a market capitalization of $590.50 million, a PE ratio of 74.41, a P/E/G ratio of 1.02 and a beta of 2.97. The stock has a 50-day simple moving average of $30.95 and a 200 day simple moving average of $27.08.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings results on Thursday, September 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.08. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The firm had revenue of $156.59 million for the quarter, compared to analyst estimates of $154.01 million. As a group, equities research analysts forecast that The Lovesac Company will post 1.09 EPS for the current fiscal year.

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.