Keith R. Siegner Purchases 4,800 Shares of The Lovesac Company (NASDAQ:LOVE) Stock

The Lovesac Company (NASDAQ:LOVE) CFO Keith R. Siegner bought 4,800 shares of Lovesac stock in a transaction dated 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 acquisition, the chief financial officer now directly owns 4,800 shares of the company’s stock, valued at approximately $99,840. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Lovesac Price Performance

Shares of NASDAQ LOVE opened at $22.43 on Thursday. The Lovesac Company has a 1 year low of $14.18 and a 1 year high of $29.81. The firm has a 50-day simple moving average of $22.37 and a two-hundred day simple moving average of $21.87. The company has a market cap of $347.44 million, a P/E ratio of 16.02, a PEG ratio of 0.48 and a beta of 2.87.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, April 11th. The company reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.06). The business had revenue of $250.00 million during the quarter, compared to analysts’ expectations of $265.35 million. Lovesac had a return on equity of 12.19% and a net margin of 3.39%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.74 EPS. As a group, equities research analysts expect that The Lovesac Company will post 1.3 EPS for the current year.

Hedge Funds Weigh In On Lovesac

A number of hedge funds have recently added to or reduced their stakes in LOVE. Byrne Asset Management LLC raised its stake in shares of Lovesac by 515.4% during the first quarter. Byrne Asset Management LLC now owns 3,200 shares of the company’s stock valued at $72,000 after acquiring an additional 2,680 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Lovesac during the 4th quarter worth $116,000. Barclays PLC increased its stake in shares of Lovesac by 15.2% during the third quarter. Barclays PLC now owns 6,210 shares of the company’s stock valued at $124,000 after buying an additional 818 shares during the period. Mitchell Mcleod Pugh & Williams Inc. bought a new stake in shares of Lovesac in the third quarter valued at about $199,000. Finally, Graham Capital Management L.P. purchased a new stake in Lovesac in the third quarter worth about $255,000. 91.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on LOVE. Canaccord Genuity Group lowered their target price on Lovesac from $44.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Roth Mkm reissued a “buy” rating and set a $34.00 price objective on shares of Lovesac in a research note on Wednesday, April 10th. Finally, Maxim Group started coverage on Lovesac in a research report on Wednesday, April 17th. They set a “buy” rating and a $36.00 price objective on the stock.

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.