The Lovesac Company (NASDAQ:LOVE) CFO Keith R. Siegner Acquires 4,800 Shares

The Lovesac Company (NASDAQ:LOVE) CFO Keith R. Siegner purchased 4,800 shares of Lovesac stock in a transaction that occurred on Friday, April 19th. The shares were bought at an average cost of $20.80 per share, with a total value of $99,840.00. Following the completion of the transaction, the chief financial officer now directly owns 4,800 shares of the company’s stock, valued at approximately $99,840. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Lovesac Stock Performance

NASDAQ:LOVE traded up $0.12 during mid-day trading on Tuesday, hitting $22.04. 338,398 shares of the stock were exchanged, compared to its average volume of 294,570. The stock has a market capitalization of $341.40 million, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 0.46 and a beta of 2.87. The firm’s 50-day simple moving average is $22.43 and its 200 day simple moving average is $21.83. The Lovesac Company has a fifty-two week low of $14.18 and a fifty-two week high of $29.81.

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

Institutional Trading of Lovesac

Several hedge funds have recently added to or reduced their stakes in LOVE. Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in Lovesac during the 3rd quarter worth approximately $199,000. Raymond James & Associates increased its stake in Lovesac by 23.2% during the 3rd quarter. Raymond James & Associates now owns 83,901 shares of the company’s stock worth $1,671,000 after acquiring an additional 15,820 shares during the period. Bank of New York Mellon Corp increased its stake in Lovesac by 13.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 403,945 shares of the company’s stock worth $8,047,000 after acquiring an additional 49,096 shares during the period. Skylands Capital LLC increased its stake in Lovesac by 1.1% during the 3rd quarter. Skylands Capital LLC now owns 176,440 shares of the company’s stock worth $3,515,000 after acquiring an additional 1,925 shares during the period. Finally, Kornitzer Capital Management Inc. KS increased its stake in Lovesac by 14.8% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 323,254 shares of the company’s stock worth $6,439,000 after acquiring an additional 41,555 shares during the period. 91.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on LOVE shares. Maxim Group started coverage on Lovesac in a research report on Wednesday, April 17th. They issued a “buy” rating and a $36.00 price objective for the company. Roth Mkm reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Lovesac in a research report on Wednesday, April 10th. Finally, Canaccord Genuity Group cut their price objective on Lovesac from $44.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, April 12th.

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 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.