Lovesac (NASDAQ:LOVE) Coverage Initiated by Analysts at Maxim Group

Maxim Group began coverage on shares of Lovesac (NASDAQ:LOVE) in a research report released on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $36.00 price objective on the stock.

LOVE has been the topic of a number of other research reports. Roth Mkm reissued a buy rating and issued a $34.00 price target on shares of Lovesac in a research report on Wednesday, April 10th. Canaccord Genuity Group dropped their price target on shares of Lovesac from $44.00 to $36.00 and set a buy rating on the stock in a research report on Friday, April 12th.

Lovesac Stock Performance

LOVE opened at $20.18 on Wednesday. The firm has a market cap of $312.59 million, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 0.43 and a beta of 2.87. The business has a 50 day moving average price of $22.66 and a 200 day moving average price of $21.75. Lovesac has a twelve month low of $14.18 and a twelve month high of $30.93.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Thursday, April 11th. The company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.06). Lovesac had a net margin of 3.39% and a return on equity of 12.19%. The firm had revenue of $250.00 million during the quarter, compared to the consensus estimate of $265.35 million. During the same period in the prior year, the business earned $1.74 EPS. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, analysts anticipate that Lovesac will post 1.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Shawn David Nelson sold 6,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $22.44, for a total transaction of $134,640.00. Following the transaction, the chief executive officer now owns 179,970 shares of the company’s stock, valued at $4,038,526.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lovesac

Institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors boosted its stake in Lovesac by 110.6% during the first quarter. Captrust Financial Advisors now owns 577 shares of the company’s stock worth $31,000 after buying an additional 303 shares in the last quarter. Citigroup Inc. boosted its stake in Lovesac by 32.6% during the first quarter. Citigroup Inc. now owns 2,339 shares of the company’s stock worth $68,000 after buying an additional 575 shares in the last quarter. Royal Bank of Canada boosted its stake in Lovesac by 230.0% during the second quarter. Royal Bank of Canada now owns 2,627 shares of the company’s stock worth $70,000 after buying an additional 1,831 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Lovesac by 567.0% during the third quarter. Tower Research Capital LLC TRC now owns 3,675 shares of the company’s stock worth $73,000 after buying an additional 3,124 shares in the last quarter. Finally, State of Wyoming boosted its stake in Lovesac by 338.3% during the fourth quarter. State of Wyoming now owns 3,651 shares of the company’s stock worth $80,000 after buying an additional 2,818 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

About Lovesac

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.