Halter Ferguson Financial Inc. Makes New $5.16 Million Investment in The Lovesac Company (NASDAQ:LOVE)

Halter Ferguson Financial Inc. bought a new position in The Lovesac Company (NASDAQ:LOVE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 201,939 shares of the company’s stock, valued at approximately $5,160,000. Lovesac accounts for about 3.3% of Halter Ferguson Financial Inc.’s investment portfolio, making the stock its 9th largest holding. Halter Ferguson Financial Inc. owned about 1.30% of Lovesac as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in LOVE. Soltis Investment Advisors LLC boosted its stake in shares of Lovesac by 87.8% in the third quarter. Soltis Investment Advisors LLC now owns 104,783 shares of the company’s stock worth $2,087,000 after acquiring an additional 48,988 shares during the last quarter. Millrace Asset Group Inc. raised its holdings in shares of Lovesac by 73.9% in the 3rd quarter. Millrace Asset Group Inc. now owns 115,704 shares of the company’s stock valued at $2,305,000 after buying an additional 49,153 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Lovesac in the 3rd quarter valued at $1,189,000. Bank of New York Mellon Corp increased its holdings in Lovesac by 13.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 403,945 shares of the company’s stock worth $8,047,000 after purchasing an additional 49,096 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new stake in Lovesac during the 3rd quarter worth about $514,000. Institutional investors own 91.32% of the company’s stock.

Insider Activity at Lovesac

In other Lovesac news, Director Andrew R. Heyer acquired 3,856 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were acquired at an average price of $18.76 per share, for a total transaction of $72,338.56. Following the completion of the acquisition, the director now directly owns 3,856 shares of the company’s stock, valued at $72,338.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Andrew R. Heyer purchased 3,856 shares of the stock in a transaction on Tuesday, April 16th. The stock was purchased at an average price of $18.76 per share, with a total value of $72,338.56. Following the completion of the transaction, the director now owns 3,856 shares in the company, valued at $72,338.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Shawn David Nelson sold 6,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were 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 of the company’s stock, valued at approximately $4,038,526.80. The disclosure for this sale can be found here. 12.09% of the stock is currently owned by company insiders.

Lovesac Price Performance

Shares of LOVE stock traded up $0.16 during trading hours on Friday, reaching $26.45. 170,773 shares of the company’s stock were exchanged, compared to its average volume of 296,413. The company has a market cap of $409.71 million, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 0.65 and a beta of 2.78. The company’s 50 day moving average is $23.16 and its two-hundred day moving average is $23.05. The Lovesac Company has a 1 year low of $14.18 and a 1 year high of $29.81.

Lovesac (NASDAQ:LOVE) last issued its earnings results on Thursday, April 11th. The company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.06). The business had revenue of $250.00 million for the quarter, compared to analysts’ expectations of $265.35 million. Lovesac had a return on equity of 12.19% and a net margin of 3.39%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the company posted $1.74 earnings per share. As a group, analysts predict that The Lovesac Company will post 1.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Canaccord Genuity Group decreased their target price on Lovesac from $44.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Maxim Group assumed coverage on Lovesac in a research report on Wednesday, April 17th. They set a “buy” rating and a $36.00 price objective for the company. Roth Mkm reaffirmed a “buy” rating and set a $34.00 price objective on shares of Lovesac in a research report on Wednesday, April 10th. Finally, Oppenheimer decreased their price objective on Lovesac from $60.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st.

Lovesac Profile

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.