Lovesac (NASDAQ:LOVE) Given Buy Rating at DA Davidson

Lovesac (NASDAQ:LOVE)‘s stock had its “buy” rating reissued by stock analysts at DA Davidson in a note issued to investors on Tuesday,Benzinga reports. They currently have a $35.00 target price on the stock. DA Davidson’s target price points to a potential upside of 90.42% from the stock’s current price.

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

Lovesac Stock Up 1.8 %

Lovesac stock traded up $0.32 during midday trading on Tuesday, hitting $18.38. The company’s stock had a trading volume of 33,099 shares, compared to its average volume of 340,245. Lovesac has a 12 month low of $15.22 and a 12 month high of $39.49. The company has a market capitalization of $283.66 million, a PE ratio of 54.00, a price-to-earnings-growth ratio of 0.65 and a beta of 3.05. The stock’s 50-day moving average price is $21.88 and its 200-day moving average price is $26.31.

Insiders Place Their Bets

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

Institutional Trading of Lovesac

A number of hedge funds have recently made changes to their positions in LOVE. Heck Capital Advisors LLC purchased a new position in Lovesac in the fourth quarter valued at about $26,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lovesac by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,524 shares of the company’s stock valued at $982,000 after buying an additional 1,243 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Lovesac by 13.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,462 shares of the company’s stock valued at $272,000 after buying an additional 1,333 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Lovesac by 18.3% in the fourth quarter. MetLife Investment Management LLC now owns 9,233 shares of the company’s stock worth $218,000 after buying an additional 1,425 shares during the last quarter. Finally, BCGM Wealth Management LLC raised its position in Lovesac by 1.2% during the fourth quarter. BCGM Wealth Management LLC now owns 135,979 shares of the company’s stock valued at $3,217,000 after acquiring an additional 1,615 shares in the last quarter. 91.32% of the stock is owned by hedge funds and other institutional investors.

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.