Versor Investments LP Boosts Holdings in The Lovesac Company (NASDAQ:LOVE)

Versor Investments LP boosted its holdings in shares of The Lovesac Company (NASDAQ:LOVE) by 58.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,086 shares of the company’s stock after buying an additional 5,186 shares during the quarter. Versor Investments LP’s holdings in Lovesac were worth $333,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LOVE. Heck Capital Advisors LLC purchased a new stake in shares of Lovesac during the fourth quarter worth about $26,000. Franklin Resources Inc. acquired a new stake in Lovesac during the third quarter worth approximately $231,000. International Assets Investment Management LLC grew its stake in Lovesac by 2,765.0% in the 3rd quarter. International Assets Investment Management LLC now owns 11,460 shares of the company’s stock worth $328,000 after acquiring an additional 11,060 shares during the period. XTX Topco Ltd acquired a new position in Lovesac in the 3rd quarter valued at $381,000. Finally, SG Americas Securities LLC lifted its stake in shares of Lovesac by 305.0% during the 4th quarter. SG Americas Securities LLC now owns 24,064 shares of the company’s stock worth $569,000 after purchasing an additional 18,122 shares during the period. 91.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LOVE. Canaccord Genuity Group raised their price objective on Lovesac from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. DA Davidson decreased their price target on Lovesac from $44.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Finally, Roth Mkm upped their price objective on shares of Lovesac from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $38.33.

Insider Activity at Lovesac

In other Lovesac news, Director Walter Field Mclallen purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average cost of $24.68 per share, with a total value of $98,720.00. Following the transaction, the director now owns 23,540 shares in the company, valued at approximately $580,967.20. This trade represents a 20.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Albert Jack Krause sold 30,000 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $26.33, for a total value of $789,900.00. Following the completion of the sale, the director now owns 147,849 shares of the company’s stock, valued at approximately $3,892,864.17. This represents a 16.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.33% of the stock is currently owned by insiders.

Lovesac Trading Down 6.8 %

Shares of LOVE opened at $19.53 on Tuesday. The Lovesac Company has a twelve month low of $18.21 and a twelve month high of $39.49. The firm has a market capitalization of $301.41 million, a P/E ratio of 57.44, a price-to-earnings-growth ratio of 0.65 and a beta of 3.02. The stock’s fifty day simple moving average is $24.30 and its 200 day simple moving average is $27.00.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings data on Thursday, December 12th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. The company had revenue of $149.90 million for the quarter, compared to the consensus estimate of $155.26 million. Lovesac had a return on equity of 3.51% and a net margin of 1.04%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the business posted ($0.15) EPS. Sell-side analysts predict that The Lovesac Company will post 0.39 earnings per share for the current year.

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.