Jefferies Financial Group Inc. purchased a new position in shares of The Lovesac Company (NASDAQ:LOVE – Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 51,900 shares of the company’s stock, valued at approximately $766,000. Jefferies Financial Group Inc. owned approximately 0.36% of Lovesac at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its position in shares of Lovesac by 41.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 375,883 shares of the company’s stock valued at $6,364,000 after buying an additional 110,953 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Lovesac by 252.8% during the 2nd quarter. Bridgeway Capital Management LLC now owns 306,687 shares of the company’s stock worth $5,582,000 after acquiring an additional 219,762 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Lovesac by 344.8% during the 1st quarter. Millennium Management LLC now owns 302,291 shares of the company’s stock worth $5,496,000 after acquiring an additional 234,324 shares during the last quarter. Skylands Capital LLC raised its stake in Lovesac by 53.4% in the 4th quarter. Skylands Capital LLC now owns 291,397 shares of the company’s stock valued at $4,298,000 after acquiring an additional 101,447 shares during the period. Finally, Nomura Holdings Inc. raised its stake in Lovesac by 71.9% in the 3rd quarter. Nomura Holdings Inc. now owns 250,502 shares of the company’s stock valued at $4,241,000 after acquiring an additional 104,781 shares during the period. 91.32% of the stock is owned by institutional investors.
Insider Activity at Lovesac
In other Lovesac news, CEO Shawn David Nelson bought 1,477 shares of the stock in a transaction dated Thursday, April 16th. The shares were bought at an average cost of $16.95 per share, with a total value of $25,035.15. Following the completion of the acquisition, the chief executive officer owned 202,681 shares of the company’s stock, valued at $3,435,442.95. This trade represents a 0.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 12.46% of the company’s stock.
Lovesac Stock Performance
Lovesac (NASDAQ:LOVE – Get Free Report) last released its quarterly earnings results on Thursday, March 26th. The company reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.19. The business had revenue of $248.05 million for the quarter, compared to analyst estimates of $242.77 million. Lovesac had a net margin of 0.58% and a return on equity of 2.02%. Lovesac’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $2.13 earnings per share. Equities research analysts predict that The Lovesac Company will post 0.59 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. Wall Street Zen raised shares of Lovesac from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Weiss Ratings restated a “sell (d)” rating on shares of Lovesac in a research report on Friday, March 27th. Finally, Roth Mkm restated a “buy” rating on shares of Lovesac in a report on Friday, March 27th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.67.
View Our Latest Stock Report on LOVE
Lovesac Profile
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.
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