The Lovesac Company (NASDAQ:LOVE – Get Free Report) CEO Shawn David Nelson bought 1,830 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $13.64 per share, for a total transaction of $24,961.20. Following the acquisition, the chief executive officer owned 205,644 shares of the company’s stock, valued at approximately $2,804,984.16. This trade represents a 0.90% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shawn David Nelson also recently made the following trade(s):
- On Thursday, April 16th, Shawn David Nelson purchased 1,477 shares of Lovesac stock. The shares were bought at an average price of $16.95 per share, with a total value of $25,035.15.
Lovesac Price Performance
Shares of NASDAQ LOVE opened at $16.03 on Thursday. The stock has a fifty day moving average price of $15.83 and a 200 day moving average price of $14.44. The Lovesac Company has a 1-year low of $10.33 and a 1-year high of $20.88. The company has a market cap of $234.68 million, a PE ratio of 61.65, a P/E/G ratio of 0.83 and a beta of 2.02.
Hedge Funds Weigh In On Lovesac
Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its stake in shares of Lovesac by 130.4% in the second quarter. BNP Paribas Financial Markets now owns 1,938 shares of the company’s stock valued at $35,000 after purchasing an additional 1,097 shares during the period. Ancora Advisors LLC acquired a new position in Lovesac during the third quarter worth about $146,000. XTX Topco Ltd acquired a new position in Lovesac during the fourth quarter worth about $149,000. PFG Investments LLC purchased a new position in Lovesac in the fourth quarter valued at about $156,000. Finally, HRT Financial LP acquired a new stake in shares of Lovesac during the 4th quarter valued at approximately $160,000. Hedge funds and other institutional investors own 91.32% of the company’s stock.
Analyst Upgrades and Downgrades
LOVE has been the topic of a number of recent analyst reports. Canaccord Genuity Group set a $22.00 price target on shares of Lovesac in a research note on Thursday, June 11th. DA Davidson raised their price objective on shares of Lovesac from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, June 12th. Roth Mkm reaffirmed a “buy” rating on shares of Lovesac in a report on Friday, March 27th. Wall Street Zen raised Lovesac from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, Weiss Ratings reissued a “sell (d)” 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 MarketBeat.com, Lovesac currently has an average rating of “Moderate Buy” and an average target price of $22.67.
Check Out Our Latest Report on LOVE
Lovesac Company 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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