Stock Traders Purchase High Volume of Lovesac Call Options (NASDAQ:LOVE)

The Lovesac Company (NASDAQ:LOVE) was the target of unusually large options trading on Monday. Traders bought 3,147 call options on the company. This represents an increase of approximately 485% compared to the typical volume of 538 call options.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Lovesac in a research note on Friday. Wall Street Zen downgraded shares of Lovesac from a “hold” rating to a “strong sell” rating in a research report on Saturday, December 13th. DA Davidson dropped their target price on shares of Lovesac from $24.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. Maxim Group set a $26.00 target price on Lovesac in a report on Friday, December 12th. Finally, Canaccord Genuity Group decreased their price target on Lovesac from $30.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, December 12th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.20.

Hedge Funds Weigh In On Lovesac

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its stake in shares of Lovesac by 130.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,938 shares of the company’s stock worth $35,000 after buying an additional 1,097 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Lovesac by 147.9% in the third quarter. Meeder Asset Management Inc. now owns 5,357 shares of the company’s stock valued at $91,000 after buying an additional 3,196 shares in the last quarter. Ancora Advisors LLC acquired a new position in Lovesac in the 3rd quarter valued at about $146,000. XTX Topco Ltd purchased a new stake in Lovesac during the 4th quarter valued at approximately $149,000. Finally, PFG Investments LLC acquired a new stake in Lovesac during the 4th quarter worth approximately $156,000. Institutional investors own 91.32% of the company’s stock.

Lovesac Price Performance

Lovesac stock traded up $0.70 during trading hours on Monday, reaching $14.23. The company had a trading volume of 165,660 shares, compared to its average volume of 290,839. The company has a 50-day moving average price of $12.78 and a 200 day moving average price of $14.11. The firm has a market cap of $207.93 million, a price-to-earnings ratio of 49.03, a P/E/G ratio of 0.88 and a beta of 2.35. Lovesac has a 12-month low of $10.33 and a 12-month high of $21.90.

Lovesac (NASDAQ:LOVE) last released its earnings results on Thursday, March 26th. The company reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.19. Lovesac had a return on equity of 2.07% and a net margin of 0.58%.The company had revenue of $248.05 million during the quarter, compared to analysts’ expectations of $242.77 million. During the same quarter last year, the business posted $2.13 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts expect that Lovesac will post 0.39 earnings per share for the current year.

About Lovesac

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.