DA Davidson Reiterates “Buy” Rating for Lovesac (NASDAQ:LOVE)

Lovesac (NASDAQ:LOVE)‘s stock had its “buy” rating reaffirmed by DA Davidson in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $35.00 price target on the stock. DA Davidson’s price target indicates a potential upside of 90.42% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Roth Mkm lifted their price objective on Lovesac from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Canaccord Genuity Group lifted their price target on shares of Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $38.33.

Lovesac Stock Up 1.8 %

Shares of Lovesac stock traded up $0.32 during trading hours on Tuesday, hitting $18.38. 33,099 shares of the company’s stock traded hands, compared to its average volume of 340,245. Lovesac has a twelve month low of $15.22 and a twelve month high of $39.49. The company has a market cap of $283.66 million, a PE ratio of 54.00, a PEG ratio of 0.65 and a beta of 3.05. The stock has a 50 day simple moving average of $21.88 and a 200-day simple moving average of $26.31.

Insider Activity

In other news, Director Albert Jack Krause sold 30,000 shares of Lovesac stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $26.33, for a total value of $789,900.00. Following the completion of the transaction, the director now directly owns 147,849 shares of the company’s stock, valued at approximately $3,892,864.17. The trade was a 16.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 12.33% of the company’s stock.

Hedge Funds Weigh In On Lovesac

A number of large investors have recently bought and sold shares of LOVE. Voya Investment Management LLC bought a new stake in shares of Lovesac in the 4th quarter worth approximately $7,354,000. AWM Investment Company Inc. increased its position in Lovesac by 33.2% in the fourth quarter. AWM Investment Company Inc. now owns 681,741 shares of the company’s stock worth $16,130,000 after buying an additional 170,045 shares during the period. Senvest Management LLC lifted its stake in Lovesac by 17.4% in the fourth quarter. Senvest Management LLC now owns 1,106,767 shares of the company’s stock valued at $26,186,000 after buying an additional 163,745 shares during the last quarter. Penn Capital Management Company LLC acquired a new position in shares of Lovesac during the fourth quarter valued at $3,722,000. Finally, New York State Common Retirement Fund grew its position in shares of Lovesac by 1,976.1% during the fourth quarter. New York State Common Retirement Fund now owns 118,795 shares of the company’s stock worth $2,811,000 after acquiring an additional 113,073 shares during the last quarter. Institutional investors own 91.32% of the company’s stock.

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.