Odeon Capital Group Begins Coverage on Lovesac (NASDAQ:LOVE)

Odeon Capital Group initiated coverage on shares of Lovesac (NASDAQ:LOVE) in a research report report published on Friday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $25.00 price target on the stock.

Several other equities research analysts also recently commented on LOVE. Craig Hallum decreased their target price on shares of Lovesac from $30.00 to $25.00 and set a buy rating for the company in a research report on Tuesday, January 14th. Stifel Nicolaus downgraded shares of Lovesac from a buy rating to a hold rating and reduced their price objective for the stock from $32.00 to $13.00 in a research report on Thursday, December 12th. Zacks Investment Research downgraded shares of Lovesac from a hold rating to a sell rating in a research report on Saturday, January 18th. Finally, ValuEngine downgraded shares of Lovesac from a strong-buy rating to a buy rating in a research report on Tuesday, December 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Lovesac currently has a consensus rating of Buy and an average target price of $27.00.

Shares of NASDAQ:LOVE traded down $0.06 during midday trading on Friday, hitting $13.00. 3,769 shares of the company’s stock were exchanged, compared to its average volume of 341,944. The stock has a 50 day moving average price of $13.86 and a 200-day moving average price of $17.39. The company has a market cap of $184.22 million, a PE ratio of -15.42 and a beta of 0.19. Lovesac has a 12 month low of $10.33 and a 12 month high of $46.79.

Lovesac (NASDAQ:LOVE) last posted its earnings results on Thursday, December 12th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.03). The business had revenue of $52.10 million for the quarter, compared to the consensus estimate of $54.29 million. Lovesac had a negative return on equity of 14.54% and a negative net margin of 5.93%. Lovesac’s revenue was up 24.9% compared to the same quarter last year. Analysts expect that Lovesac will post -1.09 EPS for the current fiscal year.

In related news, Director Andrew R. Heyer bought 20,000 shares of Lovesac stock in a transaction dated Tuesday, January 14th. The stock was purchased at an average cost of $12.74 per share, with a total value of $254,800.00. Following the transaction, the director now directly owns 31,960 shares of the company’s stock, valued at $407,170.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew R. Heyer bought 2,500 shares of Lovesac stock in a transaction dated Thursday, December 26th. The shares were bought at an average cost of $14.73 per share, with a total value of $36,825.00. Following the completion of the transaction, the director now directly owns 16,960 shares in the company, valued at $249,820.80. The disclosure for this purchase can be found here. Insiders acquired a total of 43,776 shares of company stock valued at $600,104 over the last ninety days. 54.70% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. 1492 Capital Management LLC grew its position in shares of Lovesac by 0.4% during the 3rd quarter. 1492 Capital Management LLC now owns 150,014 shares of the company’s stock valued at $2,801,000 after acquiring an additional 615 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Lovesac by 6.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 13,655 shares of the company’s stock valued at $425,000 after acquiring an additional 775 shares during the period. Morgan Stanley grew its position in shares of Lovesac by 196.3% during the 2nd quarter. Morgan Stanley now owns 2,948 shares of the company’s stock valued at $92,000 after acquiring an additional 1,953 shares during the period. California State Teachers Retirement System grew its position in shares of Lovesac by 53.7% during the 3rd quarter. California State Teachers Retirement System now owns 13,686 shares of the company’s stock valued at $256,000 after acquiring an additional 4,782 shares during the period. Finally, Northern Trust Corp grew its position in shares of Lovesac by 7.0% during the 2nd quarter. Northern Trust Corp now owns 74,478 shares of the company’s stock valued at $2,314,000 after acquiring an additional 4,850 shares during the period. 82.10% of the stock is owned by hedge funds and other institutional investors.

Lovesac Company Profile

The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans.

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Analyst Recommendations for Lovesac (NASDAQ:LOVE)

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