22,529 Shares in The Lovesac Company (NASDAQ:LOVE) Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC acquired a new position in shares of The Lovesac Company (NASDAQ:LOVEGet Rating) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 22,529 shares of the company’s stock, valued at approximately $459,000.

Several other large investors have also recently modified their holdings of the company. Millennium Management LLC increased its stake in Lovesac by 748.7% during the 2nd quarter. Millennium Management LLC now owns 296,462 shares of the company’s stock valued at $8,153,000 after purchasing an additional 261,529 shares in the last quarter. Wasatch Advisors Inc. increased its stake in Lovesac by 29.0% during the 1st quarter. Wasatch Advisors Inc. now owns 1,014,661 shares of the company’s stock valued at $54,853,000 after purchasing an additional 228,148 shares in the last quarter. Federated Hermes Inc. increased its stake in Lovesac by 13.8% during the 2nd quarter. Federated Hermes Inc. now owns 740,000 shares of the company’s stock valued at $20,350,000 after purchasing an additional 90,000 shares in the last quarter. AWM Investment Company Inc. increased its stake in Lovesac by 23.2% during the 2nd quarter. AWM Investment Company Inc. now owns 392,096 shares of the company’s stock valued at $10,783,000 after purchasing an additional 73,900 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Lovesac by 31.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 211,374 shares of the company’s stock valued at $11,427,000 after purchasing an additional 50,183 shares in the last quarter. Institutional investors own 88.34% of the company’s stock.

Lovesac Trading Up 0.7 %

Lovesac stock opened at $26.31 on Tuesday. The Lovesac Company has a 12 month low of $17.60 and a 12 month high of $63.41. The stock’s 50 day simple moving average is $23.24 and its two-hundred day simple moving average is $26.32. The firm has a market cap of $399.70 million, a PE ratio of 12.83, a P/E/G ratio of 0.39 and a beta of 2.44.

Lovesac (NASDAQ:LOVEGet Rating) last released its quarterly earnings data on Wednesday, December 7th. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.73) by $0.18. Lovesac had a return on equity of 10.53% and a net margin of 5.46%. The business had revenue of $134.78 million for the quarter, compared to analyst estimates of $134.80 million. On average, equities research analysts forecast that The Lovesac Company will post 1.89 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on LOVE shares. Canaccord Genuity Group cut their price objective on shares of Lovesac from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, December 8th. Craig Hallum cut their price objective on shares of Lovesac from $100.00 to $60.00 in a research note on Thursday, December 8th. Finally, DA Davidson cut their price objective on shares of Lovesac from $97.00 to $64.00 in a research note on Thursday, December 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Lovesac currently has a consensus rating of “Buy” and an average price target of $63.71.

Insider Transactions at Lovesac

In other Lovesac news, insider Albert Jack Krause bought 10,000 shares of Lovesac stock in a transaction dated Wednesday, December 21st. The stock was acquired at an average cost of $19.17 per share, with a total value of $191,700.00. Following the purchase, the insider now directly owns 127,474 shares in the company, valued at approximately $2,443,676.58. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 8.66% of the company’s stock.

Lovesac Profile

(Get Rating)

The Lovesac Co is a technology driven, omni-channel company. It designs, manufactures, and sells furniture comprised of modular couches called sactionals and foam beanbag chairs called sacs. Its products include sactionals, sacs, and accessories. The company was founded by Shawn David Nelson in 1995 and is headquartered in Stamford, CT.

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Institutional Ownership by Quarter for Lovesac (NASDAQ:LOVE)

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