The Lovesac Company (NASDAQ:LOVE) Director Andrew R. Heyer Buys 3,856 Shares of Stock

The Lovesac Company (NASDAQ:LOVE) Director Andrew R. Heyer acquired 3,856 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were acquired at an average cost of $18.76 per share, for a total transaction of $72,338.56. Following the purchase, the director now directly owns 3,856 shares of the company’s stock, valued at $72,338.56. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Lovesac Stock Performance

Shares of Lovesac stock opened at $20.35 on Friday. The stock has a market capitalization of $315.22 million, a PE ratio of 14.54, a price-to-earnings-growth ratio of 0.44 and a beta of 2.87. The Lovesac Company has a 52-week low of $14.18 and a 52-week high of $29.81. The company has a 50-day simple moving average of $22.59 and a two-hundred day simple moving average of $21.74.

Lovesac (NASDAQ:LOVE) last issued its earnings results on Thursday, April 11th. The company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.06). The firm 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 firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $1.74 earnings per share. As a group, equities research analysts forecast that The Lovesac Company will post 1.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Lovesac by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 829,792 shares of the company’s stock worth $21,201,000 after buying an additional 20,300 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Lovesac during the fourth quarter valued at approximately $340,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Lovesac during the fourth quarter valued at approximately $228,000. Barclays PLC raised its holdings in shares of Lovesac by 264.3% during the fourth quarter. Barclays PLC now owns 22,626 shares of the company’s stock valued at $578,000 after purchasing an additional 16,416 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Lovesac by 120.6% during the fourth quarter. Nuveen Asset Management LLC now owns 207,912 shares of the company’s stock valued at $5,312,000 after purchasing an additional 113,676 shares during the last quarter. 91.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LOVE has been the topic of several research reports. 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. Canaccord Genuity Group dropped their price objective on shares of Lovesac from $44.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Finally, Maxim Group initiated coverage on shares of Lovesac in a research note on Wednesday. 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.