Walter Field Mclallen Acquires 1,000 Shares of The Lovesac Company (NASDAQ:LOVE) Stock

The Lovesac Company (NASDAQ:LOVE) Director Walter Field Mclallen acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of $23.80 per share, for a total transaction of $23,800.00. Following the completion of the transaction, the director now owns 24,540 shares of the company’s stock, valued at $584,052. The trade was a 4.25 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Walter Field Mclallen also recently made the following trade(s):

• On Friday, December 20th, Walter Field Mclallen purchased 4,000 shares of Lovesac stock. The stock was bought at an average cost of $24.68 per share, with a total value of $98,720.00.

Lovesac Price Performance

Shares of LOVE stock opened at $24.88 on Wednesday. The business has a 50-day moving average of $31.43 and a 200 day moving average of $27.15. The Lovesac Company has a 1-year low of $18.21 and a 1-year high of $39.49. The stock has a market capitalization of $383.97 million, a PE ratio of 73.18, a P/E/G ratio of 1.49 and a beta of 2.97.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.02. Lovesac had a return on equity of 3.46% and a net margin of 1.04%. The firm had revenue of $149.90 million during the quarter, compared to analyst estimates of $155.26 million. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. Analysts anticipate that The Lovesac Company will post 0.5 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LOVE shares. DA Davidson dropped their price objective on shares of Lovesac from $44.00 to $35.00 and set a “buy” rating for the company in a report on Friday, December 13th. Canaccord Genuity Group increased their price objective on Lovesac from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Craig Hallum boosted their target price on Lovesac from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Finally, Roth Mkm increased their price target on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $38.33.

Hedge Funds Weigh In On Lovesac

Hedge funds have recently modified their holdings of the company. Jane Street Group LLC grew its stake in shares of Lovesac by 74.4% in the third quarter. Jane Street Group LLC now owns 80,776 shares of the company’s stock worth $2,314,000 after purchasing an additional 34,451 shares during the last quarter. Millrace Asset Group Inc. raised its holdings in shares of Lovesac by 63.0% during the third quarter. Millrace Asset Group Inc. now owns 68,503 shares of the company’s stock valued at $1,963,000 after acquiring an additional 26,481 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Lovesac by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 795,011 shares of the company’s stock valued at $17,951,000 after acquiring an additional 26,872 shares in the last quarter. Anson Funds Management LP lifted its stake in Lovesac by 13.9% in the third quarter. Anson Funds Management LP now owns 814,363 shares of the company’s stock worth $23,332,000 after acquiring an additional 99,651 shares during the period. Finally, Hood River Capital Management LLC boosted its holdings in Lovesac by 8.8% in the second quarter. Hood River Capital Management LLC now owns 774,015 shares of the company’s stock valued at $17,477,000 after acquiring an additional 62,615 shares in 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.