Key Points
- Lovesac director Andrew Heyer bought 30,000 shares for about $440,400 at $14.68 per share, increasing his direct stake by 11.4%.
- The purchase came after Lovesac reported quarterly earnings that beat analyst expectations, with EPS of -$0.76 versus -$1.03 expected and revenue of $138.2 million, slightly above estimates.
- Analysts remain generally constructive on the stock, with several firms issuing buy ratings and an average price target of $22.67, while institutional ownership remains high at 91.32%.
The Lovesac Company (NASDAQ:LOVE - Get Free Report) President Mary Fox bought 1,720 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $14.41 per share, for a total transaction of $24,785.20. Following the completion of the purchase, the president owned 71,674 shares in the company, valued at $1,032,822.34. This trade represents a 2.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Lovesac Stock Down 3.2%
Lovesac stock opened at $14.00 on Tuesday. The firm has a market cap of $204.96 million, a PE ratio of 53.85, a price-to-earnings-growth ratio of 0.82 and a beta of 2.02. The Lovesac Company has a 52-week low of $10.33 and a 52-week high of $20.88. The company's 50 day moving average is $15.84 and its two-hundred day moving average is $14.42.
Lovesac (NASDAQ:LOVE - Get Free Report) last posted its quarterly earnings results on Thursday, June 11th. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.27. The business had revenue of $138.20 million during the quarter, compared to the consensus estimate of $136.66 million. Lovesac had a net margin of 0.55% and a return on equity of 1.88%. The company's quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($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, equities research analysts anticipate that The Lovesac Company will post 0.5 earnings per share for the current fiscal year.
Institutional Trading of Lovesac
Hedge funds and other institutional investors have recently bought and sold shares of the business. Kanen Wealth Management LLC purchased a new stake in Lovesac during the 1st quarter worth about $8,064,000. Empowered Funds LLC raised its position in shares of Lovesac by 9.5% during the 1st quarter. Empowered Funds LLC now owns 83,794 shares of the company's stock worth $1,238,000 after acquiring an additional 7,247 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Lovesac by 331.1% during the first quarter. Quantinno Capital Management LP now owns 50,406 shares of the company's stock worth $744,000 after purchasing an additional 38,713 shares during the last quarter. Senvest Management LLC boosted its holdings in 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 purchasing an additional 275,252 shares in the last quarter. Finally, Bastion Asset Management Inc. increased its stake in Lovesac by 193.6% in the first quarter. Bastion Asset Management Inc. now owns 356,097 shares of the company's stock valued at $5,290,000 after purchasing an additional 234,812 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently commented on LOVE. Wall Street Zen raised Lovesac from a "sell" rating to a "hold" rating in a research note on Saturday, April 4th. Roth Mkm reiterated a "buy" rating on shares of Lovesac in a research note on Friday, March 27th. DA Davidson lifted their price objective on Lovesac from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, June 12th. Canaccord Genuity Group set a $22.00 target price on shares of Lovesac in a research note on Thursday, June 11th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Lovesac in a report on Friday, March 27th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.67.
Check Out Our Latest Analysis on Lovesac
About Lovesac
(
Get Free Report)
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.
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