Roth Mkm Reaffirms “Buy” Rating for Lovesac (NASDAQ:LOVE)

Roth Mkm reissued their buy rating on shares of Lovesac (NASDAQ:LOVEFree Report) in a report released on Wednesday, Benzinga reports. The brokerage currently has a $34.00 price target on the stock.

Lovesac Price Performance

Lovesac stock opened at $19.51 on Wednesday. The business has a 50 day moving average of $22.89 and a 200-day moving average of $21.75. Lovesac has a 1 year low of $14.18 and a 1 year high of $30.93. The company has a market capitalization of $302.21 million, a P/E ratio of 13.94, a P/E/G ratio of 0.45 and a beta of 2.87.

Lovesac (NASDAQ:LOVEGet Free Report) last released its quarterly earnings data on Thursday, April 11th. The company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.06). Lovesac had a net margin of 3.39% and a return on equity of 12.69%. The firm had revenue of $250.00 million during the quarter, compared to analyst estimates of $265.35 million. During the same period in the prior year, the company earned $1.74 EPS. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities analysts anticipate that Lovesac will post 1.33 EPS for the current year.

Insider Activity at Lovesac

In related news, CEO Shawn David Nelson sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $22.44, for a total value of $134,640.00. Following the sale, the chief executive officer now directly owns 179,970 shares in the company, valued at $4,038,526.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lovesac

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Lovesac by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 829,792 shares of the company’s stock worth $21,201,000 after buying an additional 20,300 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Lovesac during the 4th quarter worth approximately $340,000. Price T Rowe Associates Inc. MD bought a new position in shares of Lovesac during the 4th quarter worth approximately $228,000. Barclays PLC boosted its holdings in shares of Lovesac by 264.3% during the 4th quarter. Barclays PLC now owns 22,626 shares of the company’s stock worth $578,000 after buying an additional 16,416 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Lovesac by 120.6% in the 4th quarter. Nuveen Asset Management LLC now owns 207,912 shares of the company’s stock worth $5,312,000 after purchasing an additional 113,676 shares in the last quarter. 91.32% of the stock is currently owned by institutional investors.

Lovesac Company Profile

(Get Free Report)

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 lovesac.com website, as well as showrooms at top tier malls, lifestyle centers, mobile concierges, kiosks, and street locations in 40 states of the United States; and in store pop-up- shops and shop-in-shops.

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