Keith R. Siegner Buys 4,800 Shares of The Lovesac Company (NASDAQ:LOVE) Stock

The Lovesac Company (NASDAQ:LOVE) CFO Keith R. Siegner bought 4,800 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were purchased at an average price of $20.80 per share, with a total value of $99,840.00. Following the acquisition, the chief financial officer now directly owns 4,800 shares in the company, valued at approximately $99,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Lovesac Price Performance

NASDAQ LOVE traded up $0.12 on Tuesday, reaching $22.04. The company had a trading volume of 338,398 shares, compared to its average volume of 294,570. The firm has a market capitalization of $341.40 million, a PE ratio of 15.74, a P/E/G ratio of 0.46 and a beta of 2.87. The Lovesac Company has a 1 year low of $14.18 and a 1 year high of $29.81. The firm has a 50-day moving average of $22.43 and a 200-day moving average of $21.83.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, April 11th. The company reported $1.87 EPS for the quarter, missing the consensus estimate 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 net margin of 3.39% and a return on equity of 12.19%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.74 earnings per share. As a group, sell-side analysts expect that The Lovesac Company will post 1.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Lovesac

Institutional investors and hedge funds have recently made changes to their positions in the company. Byrne Asset Management LLC raised its position in shares of Lovesac by 515.4% during the 1st quarter. Byrne Asset Management LLC now owns 3,200 shares of the company’s stock valued at $72,000 after acquiring an additional 2,680 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Lovesac during the 4th quarter valued at approximately $116,000. Barclays PLC raised its position in shares of Lovesac by 15.2% during the 3rd quarter. Barclays PLC now owns 6,210 shares of the company’s stock valued at $124,000 after acquiring an additional 818 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in Lovesac in the third quarter worth $199,000. Finally, Graham Capital Management L.P. acquired a new stake in Lovesac in the third quarter worth $255,000. 91.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LOVE has been the subject of a number of analyst reports. Roth Mkm restated a “buy” rating and issued a $34.00 price target on shares of Lovesac in a report on Wednesday, April 10th. Maxim Group initiated coverage on Lovesac in a report on Wednesday, April 17th. They issued a “buy” rating and a $36.00 price target for the company. Finally, Canaccord Genuity Group decreased their price target on Lovesac from $44.00 to $36.00 and set a “buy” rating for the company in a report on Friday, April 12th.

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.