Bastion Asset Management Inc. Grows Stock Holdings in The Lovesac Company $LOVE

Bastion Asset Management Inc. grew its stake in The Lovesac Company (NASDAQ:LOVE) by 193.6% during the 1st quarter, HoldingsChannel reports. The fund owned 356,097 shares of the company’s stock after purchasing an additional 234,812 shares during the quarter. Bastion Asset Management Inc.’s holdings in Lovesac were worth $5,290,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LOVE. BNP Paribas Financial Markets lifted its position in Lovesac by 130.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,938 shares of the company’s stock valued at $35,000 after acquiring an additional 1,097 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Lovesac during the 3rd quarter valued at about $146,000. XTX Topco Ltd bought a new position in Lovesac in the fourth quarter worth approximately $149,000. PFG Investments LLC purchased a new position in Lovesac during the fourth quarter valued at $156,000. Finally, HRT Financial LP purchased a new position in shares of Lovesac during the 4th quarter valued at about $160,000. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Wall Street Analyst Weigh In

LOVE has been the subject of several recent analyst reports. DA Davidson upped their target price on shares of Lovesac from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Roth Capital reissued a “buy” rating on shares of Lovesac in a report on Friday, March 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Lovesac in a research note on Wednesday, June 24th. Wall Street Zen raised shares of Lovesac from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, Canaccord Genuity Group set a $22.00 price target on Lovesac in a research note on Thursday, June 11th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.67.

Lovesac Stock Performance

NASDAQ LOVE opened at $18.70 on Friday. The Lovesac Company has a 52-week low of $10.33 and a 52-week high of $20.88. The firm’s 50 day moving average price is $16.12 and its 200-day moving average price is $14.79. The company has a market cap of $273.77 million, a PE ratio of 71.92, a P/E/G ratio of 1.01 and a beta of 2.00.

Lovesac (NASDAQ:LOVE) last released its quarterly earnings results on Thursday, June 11th. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.27. The firm had revenue of $138.20 million during the quarter, compared to analyst estimates of $136.66 million. Lovesac had a return on equity of 1.88% and a net margin of 0.55%.The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.73) EPS. Lovesac has set its Q2 2027 guidance at 0.200-0.480 EPS and its FY 2027 guidance at 0.340-0.810 EPS. On average, analysts forecast that The Lovesac Company will post 0.5 earnings per share for the current fiscal year.

Insider Activity

In other Lovesac news, Director Andrew R. Heyer acquired 30,000 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was purchased at an average price of $14.68 per share, for a total transaction of $440,400.00. Following the acquisition, the director owned 293,259 shares in the company, valued at approximately $4,305,042.12. This trade represents a 11.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 33,550 shares of company stock worth $490,146 over the last 90 days. Corporate insiders own 7.79% of the company’s stock.

Lovesac Company Profile

Lovesac, trading on NASDAQ under the symbol LOVE, is an American furniture company known for its modular seating systems and distinctive foam-filled “Sacs.” Founded in 1995 by Shawn Nelson, the company has built a reputation for innovative design that emphasizes comfort, durability and adaptability. Its core offerings include Sactionals—customizable sectional sofas assembled from individual “Sactional” cubes—and the original Lovesac Sacs, large fabric-covered bean bag chairs available in a variety of sizes and materials.

In addition to seating solutions, Lovesac has expanded into home entertainment products with the introduction of the Stage, a modular soundbar system designed to integrate seamlessly with Sactionals.