Kanen Wealth Management LLC Makes New Investment in The Lovesac Company $LOVE

Kanen Wealth Management LLC acquired a new position in shares of The Lovesac Company (NASDAQ:LOVE) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 545,963 shares of the company’s stock, valued at approximately $8,064,000. Lovesac accounts for 2.9% of Kanen Wealth Management LLC’s portfolio, making the stock its 10th biggest position.

A number of other large investors have also made changes to their positions in the stock. Senvest Management LLC lifted its stake in shares of Lovesac by 36.7% in the first quarter. Senvest Management LLC now owns 1,025,393 shares of the company’s stock valued at $15,145,000 after buying an additional 275,252 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Lovesac by 41.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 375,883 shares of the company’s stock valued at $6,364,000 after acquiring an additional 110,953 shares during the period. Invenomic Capital Management LP acquired a new position in Lovesac in the 4th quarter valued at approximately $5,350,000. Bastion Asset Management Inc. raised its holdings in Lovesac by 193.6% in the 1st quarter. Bastion Asset Management Inc. now owns 356,097 shares of the company’s stock valued at $5,290,000 after acquiring an additional 234,812 shares in the last quarter. Finally, Skylands Capital LLC lifted its position in shares of Lovesac by 14.3% in the 1st quarter. Skylands Capital LLC now owns 332,947 shares of the company’s stock worth $4,918,000 after acquiring an additional 41,550 shares during the period. Institutional investors and hedge funds own 91.32% of the company’s stock.

Lovesac Stock Down 0.1%

NASDAQ:LOVE opened at $16.97 on Wednesday. The Lovesac Company has a 12-month low of $10.33 and a 12-month high of $20.88. The firm has a market capitalization of $248.44 million, a PE ratio of 65.27, a price-to-earnings-growth ratio of 0.96 and a beta of 2.00. The firm has a 50-day moving average price of $16.37 and a 200 day moving average price of $14.92.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings results on Thursday, June 11th. The company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.27. The firm had revenue of $138.20 million during the quarter, compared to analysts’ expectations of $136.66 million. Lovesac had a net margin of 0.55% and a return on equity of 1.88%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.73) earnings per share. Lovesac has set its Q2 2027 guidance at 0.200-0.480 EPS and its FY 2027 guidance at 0.340-0.810 EPS. On average, research analysts expect that The Lovesac Company will post 0.5 EPS for the current year.

Insider Activity

In related news, Director Andrew R. Heyer bought 30,000 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was acquired at an average price of $14.68 per share, for a total transaction of $440,400.00. Following the transaction, the director directly owned 293,259 shares of the company’s stock, valued at $4,305,042.12. This represents a 11.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders purchased 33,550 shares of company stock valued at $490,146. Corporate insiders own 7.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LOVE. Wall Street Zen upgraded Lovesac from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Canaccord Genuity Group set a $22.00 target price on Lovesac in a research report on Thursday, June 11th. DA Davidson lifted their price target on shares of Lovesac from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Lovesac in a research note on Wednesday, June 24th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Lovesac presently has an average rating of “Moderate Buy” and a consensus target price of $22.67.

Lovesac Profile

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.