Lovesac (NASDAQ:LOVE) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Lovesac (NASDAQ:LOVE) issued its quarterly earnings data on Thursday. The company reported $1.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.06), Briefing.com reports. Lovesac had a return on equity of 12.69% and a net margin of 3.39%. The company had revenue of $250.00 million for the quarter, compared to the consensus estimate of $265.35 million. During the same period in the prior year, the company earned $1.74 EPS. The firm’s revenue was up 4.8% on a year-over-year basis.

Lovesac Stock Performance

Lovesac stock traded down $1.22 during mid-day trading on Friday, reaching $19.51. The company’s stock had a trading volume of 854,612 shares, compared to its average volume of 387,245. The company has a market capitalization of $302.21 million, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 0.45 and a beta of 2.87. The business’s 50 day simple moving average is $22.89 and its 200 day simple moving average is $21.73. Lovesac has a 12 month low of $14.18 and a 12 month high of $30.93.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LOVE. Canaccord Genuity Group decreased their target price on shares of Lovesac from $44.00 to $36.00 and set a “buy” rating for the company in a research report on Friday. Roth Mkm reaffirmed a “buy” rating and issued a $34.00 target price on shares of Lovesac in a research report on Wednesday.

Insider Buying and Selling at Lovesac

In other Lovesac news, CEO Shawn David Nelson sold 6,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $22.44, for a total value of $134,640.00. Following the completion of the sale, the chief executive officer now owns 179,970 shares in the company, valued at $4,038,526.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.09% of the company’s stock.

Institutional Trading of Lovesac

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Lovesac by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 829,792 shares of the company’s stock worth $21,201,000 after buying an additional 20,300 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Lovesac during the 4th quarter worth about $228,000. Barclays PLC raised its stake in Lovesac by 264.3% in the 4th quarter. Barclays PLC now owns 22,626 shares of the company’s stock worth $578,000 after purchasing an additional 16,416 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Lovesac by 120.6% in the 4th quarter. Nuveen Asset Management LLC now owns 207,912 shares of the company’s stock worth $5,312,000 after purchasing an additional 113,676 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new stake in Lovesac in the 4th quarter worth about $295,000. Institutional investors and hedge funds own 91.32% of the company’s stock.

Lovesac Company Profile

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 lovesac.com website, as well as showrooms at top tier malls, lifestyle centers, mobile concierges, kiosks, and street locations in 40 states of the United States; and in store pop-up- shops and shop-in-shops.