The Lovesac (NASDAQ:LOVE) was downgraded by equities research analysts at TheStreet from a “c” rating to a “d+” rating in a research note issued on Wednesday, TheStreetRatingsTable reports.
Several other research analysts have also weighed in on LOVE. Craig Hallum increased their price objective on The Lovesac from $85.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus raised their price target on The Lovesac from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday. Canaccord Genuity raised their price target on The Lovesac from $77.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday. Roth Capital lifted their target price on The Lovesac from $85.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday. Finally, BTIG Research lifted their target price on The Lovesac from $78.00 to $98.00 and gave the company a “buy” rating in a report on Thursday. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The Lovesac presently has an average rating of “Buy” and an average price target of $96.38.
Shares of LOVE opened at $87.40 on Wednesday. The Lovesac has a 52 week low of $18.88 and a 52 week high of $95.51. The stock has a market capitalization of $1.31 billion, a P/E ratio of 100.46, a price-to-earnings-growth ratio of 5.99 and a beta of 2.49. The business has a 50-day moving average of $73.96.
In related news, CEO Shawn David Nelson sold 6,000 shares of the business’s stock in a transaction dated Monday, April 19th. The stock was sold at an average price of $69.00, for a total value of $414,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 31.31% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new position in The Lovesac in the 1st quarter valued at about $25,000. Acadian Asset Management LLC purchased a new stake in The Lovesac in the 1st quarter valued at approximately $25,000. Royal Bank of Canada boosted its holdings in The Lovesac by 97.9% in the 1st quarter. Royal Bank of Canada now owns 651 shares of the company’s stock valued at $37,000 after purchasing an additional 322 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of The Lovesac by 37.4% during the 1st quarter. Captrust Financial Advisors now owns 892 shares of the company’s stock worth $50,000 after acquiring an additional 243 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of The Lovesac during the 1st quarter worth approximately $102,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.
About The Lovesac
The Lovesac Company designs, manufactures, and sells furniture. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, foot sac blankets, decorative pillows, fitted seat tables, and ottomans. As of January 31, 2021, the Company operated 108 showrooms.
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