Lovesac (NASDAQ:LOVE) Sets New 12-Month High – Still a Buy?

The Lovesac Company (NASDAQ:LOVE) reached a new 52-week high during trading on Wednesday . The stock traded as high as $39.49 and last traded at $38.62, with a volume of 21992 shares traded. The stock had previously closed at $38.06.

Analysts Set New Price Targets

Several research analysts have commented on LOVE shares. Roth Mkm upped their target price on shares of Lovesac from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Canaccord Genuity Group upped their target price on shares of Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday. DA Davidson restated a “buy” rating and issued a $32.00 target price on shares of Lovesac in a research report on Thursday, October 3rd. Finally, Craig Hallum upped their target price on shares of Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $36.67.

Lovesac Price Performance

The firm’s fifty day moving average price is $30.34 and its 200-day moving average price is $26.86. The firm has a market capitalization of $584.90 million, a P/E ratio of 74.63, a PEG ratio of 1.00 and a beta of 2.97.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, September 12th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.08. Lovesac had a net margin of 1.41% and a return on equity of 4.83%. The business had revenue of $156.59 million during the quarter, compared to analyst estimates of $154.01 million. Analysts expect that The Lovesac Company will post 1.09 earnings per share for the current year.

Insider Activity at Lovesac

In related news, Director Albert Jack Krause sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $26.22, for a total value of $262,200.00. Following the completion of the sale, the director now owns 177,849 shares in the company, valued at approximately $4,663,200.78. This represents a 5.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Lovesac

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Senvest Management LLC increased its stake in shares of Lovesac by 47.3% during the 3rd quarter. Senvest Management LLC now owns 943,022 shares of the company’s stock worth $27,018,000 after purchasing an additional 302,643 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Lovesac by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 841,537 shares of the company’s stock worth $19,019,000 after purchasing an additional 11,745 shares during the last quarter. Anson Funds Management LP increased its stake in shares of Lovesac by 13.9% during the 3rd quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock worth $23,332,000 after purchasing an additional 99,651 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Lovesac by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock worth $17,951,000 after purchasing an additional 26,872 shares during the last quarter. Finally, Hood River Capital Management LLC increased its stake in shares of Lovesac by 8.8% during the 2nd quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock worth $17,477,000 after purchasing an additional 62,615 shares during the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s 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.