95,519 Shares in The Lovesac Company $LOVE Acquired by Man Group plc

Man Group plc bought a new stake in shares of The Lovesac Company (NASDAQ:LOVE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 95,519 shares of the company’s stock, valued at approximately $1,594,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Legal & General Group Plc bought a new position in Lovesac in the second quarter worth approximately $25,000. BNP Paribas Financial Markets grew its position in shares of Lovesac by 130.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,938 shares of the company’s stock valued at $35,000 after acquiring an additional 1,097 shares during the period. Ancora Advisors LLC bought a new stake in shares of Lovesac during the 3rd quarter valued at $146,000. XTX Topco Ltd purchased a new stake in shares of Lovesac in the 4th quarter worth $149,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Lovesac in the 2nd quarter worth $178,000. 91.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LOVE has been the topic of several analyst reports. DA Davidson lifted their target price on Lovesac from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, June 12th. Canaccord Genuity Group set a $22.00 price target on Lovesac in a research report on Thursday, June 11th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lovesac in a research note on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.67.

Lovesac Price Performance

LOVE opened at $16.22 on Thursday. The firm has a market cap of $237.46 million, a P/E ratio of 62.38, a PEG ratio of 0.87 and a beta of 2.03. The Lovesac Company has a 1-year low of $10.33 and a 1-year high of $20.88. The company has a 50 day simple moving average of $16.97 and a two-hundred day simple moving average of $15.37.

Lovesac (NASDAQ:LOVE) last announced its quarterly earnings data on Thursday, June 11th. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.27. The firm had revenue of $138.20 million for the quarter, compared to the consensus estimate of $136.66 million. Lovesac had a net margin of 0.55% and a return on equity of 1.88%. The company’s revenue was down .1% on a year-over-year basis. During the same period last year, the firm earned ($0.73) EPS. 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 analysts anticipate that The Lovesac Company will post 0.5 earnings per share for the current year.

Insider Transactions at Lovesac

In other Lovesac news, Director Andrew R. Heyer purchased 30,000 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was acquired at an average price of $14.68 per share, for a total transaction of $440,400.00. Following the purchase, the director owned 293,259 shares of the company’s stock, valued at approximately $4,305,042.12. This represents a 11.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders acquired 33,550 shares of company stock valued at $490,146. Corporate insiders own 7.79% of the company’s stock.

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.