UBS Group AG Boosts Stake in The Lovesac Company $LOVE

UBS Group AG lifted its holdings in The Lovesac Company (NASDAQ:LOVE) by 63.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 229,643 shares of the company’s stock after purchasing an additional 89,537 shares during the period. UBS Group AG’s holdings in Lovesac were worth $3,387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. PFG Investments LLC purchased a new position in shares of Lovesac in the fourth quarter worth about $156,000. BCGM Wealth Management LLC lifted its stake in shares of Lovesac by 77.4% in the fourth quarter. BCGM Wealth Management LLC now owns 241,532 shares of the company’s stock worth $3,563,000 after buying an additional 105,349 shares in the last quarter. Nomura Holdings Inc. lifted its stake in shares of Lovesac by 71.9% in the third quarter. Nomura Holdings Inc. now owns 250,502 shares of the company’s stock worth $4,241,000 after buying an additional 104,781 shares in the last quarter. Numerai GP LLC lifted its stake in shares of Lovesac by 10.7% in the third quarter. Numerai GP LLC now owns 11,805 shares of the company’s stock worth $200,000 after buying an additional 1,145 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Lovesac by 40.5% in the third quarter. Millennium Management LLC now owns 68,380 shares of the company’s stock worth $1,158,000 after buying an additional 19,716 shares in the last quarter. 91.32% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lovesac

In related news, CEO Shawn David Nelson purchased 1,477 shares of the company’s stock in a transaction on Thursday, April 16th. The stock was acquired at an average cost of $16.95 per share, for a total transaction of $25,035.15. Following the completion of the transaction, the chief executive officer directly owned 202,681 shares in the company, valued at approximately $3,435,442.95. The trade was a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 12.46% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LOVE shares. Roth Mkm reissued a “buy” rating on shares of Lovesac in a research note on Friday, March 27th. Wall Street Zen raised shares of Lovesac from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Lovesac in a research note on Friday, March 27th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.67.

Lovesac Price Performance

Shares of LOVE stock opened at $16.16 on Monday. The firm’s 50-day moving average is $14.71 and its two-hundred day moving average is $14.05. The Lovesac Company has a 12 month low of $10.33 and a 12 month high of $21.15. The company has a market capitalization of $238.84 million, a PE ratio of 55.73, a price-to-earnings-growth ratio of 0.78 and a beta of 2.04.

Lovesac (NASDAQ:LOVE) last issued its earnings results on Thursday, March 26th. The company reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.19. Lovesac had a net margin of 0.58% and a return on equity of 2.02%. The company had revenue of $248.05 million for the quarter, compared to the consensus estimate of $242.77 million. During the same period in the previous year, the firm earned $2.13 earnings per share. Lovesac’s quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that The Lovesac Company will post 0.59 EPS for the current year.

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.