Andrew Heyer Purchases 30,000 Shares of Lovesac (NASDAQ:LOVE) Stock

The Lovesac Company (NASDAQ:LOVE) Director Andrew Heyer purchased 30,000 shares of Lovesac stock in a transaction dated Thursday, June 18th. The stock was bought at an average cost of $14.68 per share, with a total value of $440,400.00. Following the completion of the transaction, the director directly owned 293,259 shares of the company’s stock, valued at $4,305,042.12. This represents a 11.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Lovesac Stock Up 4.2%

Shares of NASDAQ:LOVE opened at $14.59 on Wednesday. The firm has a fifty day moving average of $15.83 and a two-hundred day moving average of $14.43. The firm has a market capitalization of $213.60 million, a P/E ratio of 56.12, a price-to-earnings-growth ratio of 0.79 and a beta of 2.02. The Lovesac Company has a 12-month low of $10.33 and a 12-month high of $20.88.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Thursday, June 11th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.27. Lovesac had a return on equity of 1.88% and a net margin of 0.55%.The business had revenue of $138.20 million during the quarter, compared to analyst estimates of $136.66 million. During the same period last year, the company earned ($0.73) earnings per share. Lovesac’s quarterly revenue was down .1% compared to the same quarter last year. Lovesac has set its Q2 2027 guidance at 0.200-0.480 EPS and its FY 2027 guidance at 0.340-0.810 EPS. Equities research analysts expect that The Lovesac Company will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lovesac

Several hedge funds and other institutional investors have recently modified their holdings of LOVE. Kanen Wealth Management LLC bought a new position in Lovesac during the first quarter worth $8,064,000. Empowered Funds LLC boosted its holdings in Lovesac by 9.5% in the 1st quarter. Empowered Funds LLC now owns 83,794 shares of the company’s stock valued at $1,238,000 after purchasing an additional 7,247 shares during the period. Quantinno Capital Management LP boosted its holdings in Lovesac by 331.1% in the 1st quarter. Quantinno Capital Management LP now owns 50,406 shares of the company’s stock valued at $744,000 after purchasing an additional 38,713 shares during the period. Senvest Management LLC grew its position in Lovesac by 36.7% in the 1st quarter. Senvest Management LLC now owns 1,025,393 shares of the company’s stock worth $15,145,000 after purchasing an additional 275,252 shares during the last quarter. Finally, Bastion Asset Management Inc. grew its position in Lovesac by 193.6% in the 1st quarter. Bastion Asset Management Inc. now owns 356,097 shares of the company’s stock worth $5,290,000 after purchasing an additional 234,812 shares during the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

Analyst Ratings Changes

LOVE has been the subject of several recent research reports. Wall Street Zen raised Lovesac from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lovesac in a research report on Friday, March 27th. Canaccord Genuity Group set a $22.00 target price on shares of Lovesac in a research note on Thursday, June 11th. DA Davidson boosted their target price on shares of Lovesac from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, June 12th. Finally, Roth Mkm restated a “buy” rating on shares of Lovesac in a research note on Friday, March 27th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Lovesac has a consensus rating of “Moderate Buy” and an average price target of $22.67.

About Lovesac

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.