35,323 Shares in The Lovesac Company (NASDAQ:LOVE) Bought by 1492 Capital Management LLC

1492 Capital Management LLC purchased a new stake in shares of The Lovesac Company (NASDAQ:LOVE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 35,323 shares of the company’s stock, valued at approximately $836,000.

Several other institutional investors have also added to or reduced their stakes in LOVE. Heck Capital Advisors LLC bought a new stake in shares of Lovesac in the 4th quarter valued at about $26,000. AlphaQuest LLC purchased a new position in Lovesac in the 4th quarter worth approximately $70,000. Franklin Resources Inc. bought a new stake in Lovesac in the third quarter valued at approximately $231,000. Wells Fargo & Company MN lifted its position in Lovesac by 24.8% in the fourth quarter. Wells Fargo & Company MN now owns 9,823 shares of the company’s stock valued at $232,000 after purchasing an additional 1,950 shares during the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of Lovesac during the fourth quarter valued at approximately $321,000. 91.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on LOVE shares. Roth Mkm lifted their target price on shares of Lovesac from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Oppenheimer restated an “outperform” rating and issued a $35.00 price objective on shares of Lovesac in a research report on Friday, April 11th. DA Davidson dropped their target price on shares of Lovesac from $35.00 to $24.00 and set a “buy” rating for the company in a report on Friday, April 11th. Finally, Canaccord Genuity Group reduced their price target on Lovesac from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $31.67.

Lovesac Price Performance

NASDAQ:LOVE opened at $20.06 on Friday. The firm has a market capitalization of $309.59 million, a P/E ratio of 59.00, a PEG ratio of 0.65 and a beta of 3.08. The Lovesac Company has a one year low of $12.12 and a one year high of $39.49. The company’s 50-day simple moving average is $18.67 and its 200 day simple moving average is $25.13.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings results on Thursday, April 10th. The company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.33. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The firm had revenue of $241.50 million for the quarter, compared to analysts’ expectations of $230.33 million. During the same period in the previous year, the firm posted $1.87 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities research analysts expect that The Lovesac Company will post 0.39 earnings per share for the current fiscal year.

Lovesac Company 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.