19,056 Shares in The Lovesac Company (NASDAQ:LOVE) Bought by Quadrature Capital Ltd

Quadrature Capital Ltd bought a new stake in The Lovesac Company (NASDAQ:LOVE – Get Rating) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 19,056 shares of the company’s stock, valued at approximately $389,000.

Several other hedge funds have also recently made changes to their positions in LOVE. IFP Advisors Inc raised its stake in shares of Lovesac by 333.1% in the third quarter. IFP Advisors Inc now owns 615 shares of the company’s stock valued at $25,000 after buying an additional 473 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Lovesac by 1,064.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,525 shares of the company’s stock valued at $31,000 after buying an additional 1,394 shares during the period. Captrust Financial Advisors raised its stake in shares of Lovesac by 110.6% in the first quarter. Captrust Financial Advisors now owns 577 shares of the company’s stock valued at $31,000 after buying an additional 303 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Lovesac in the second quarter valued at $59,000. Finally, Great West Life Assurance Co. Can bought a new stake in shares of Lovesac in the third quarter valued at $63,000. 88.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Lovesac news, Director Andrew R. Heyer bought 10,000 shares of Lovesac stock in a transaction that occurred on Tuesday, January 3rd. The stock was acquired at an average cost of $23.00 per share, for a total transaction of $230,000.00. Following the completion of the transaction, the director now directly owns 172,970 shares in the company, valued at $3,978,310. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.66% of the stock is owned by company insiders.

Lovesac Stock Down 5.9 %

Lovesac stock opened at $25.14 on Monday. The Lovesac Company has a 52 week low of $17.60 and a 52 week high of $63.41. The business has a 50-day simple moving average of $26.98 and a 200 day simple moving average of $24.85. The stock has a market cap of $381.88 million, a price-to-earnings ratio of 12.26, a PEG ratio of 0.34 and a beta of 2.41.

Analysts Set New Price Targets

LOVE has been the topic of several research reports. DA Davidson lowered their target price on Lovesac from $97.00 to $64.00 in a research note on Thursday, December 8th. Canaccord Genuity Group reduced their price target on Lovesac from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, December 8th. Finally, Craig Hallum reduced their price target on Lovesac from $100.00 to $60.00 in a research report on Thursday, December 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $63.71.

About Lovesac

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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.