BCGM Wealth Management LLC Has $3.85 Million Holdings in The Lovesac Company (NASDAQ:LOVE)

BCGM Wealth Management LLC boosted its position in shares of The Lovesac Company (NASDAQ:LOVE) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,364 shares of the company’s stock after purchasing an additional 1,023 shares during the period. Lovesac comprises 1.2% of BCGM Wealth Management LLC’s holdings, making the stock its 24th largest position. BCGM Wealth Management LLC’s holdings in Lovesac were worth $3,850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of LOVE. EntryPoint Capital LLC acquired a new stake in Lovesac in the 1st quarter valued at approximately $39,000. Meeder Asset Management Inc. bought a new position in shares of Lovesac during the 2nd quarter worth approximately $43,000. SG Americas Securities LLC acquired a new stake in shares of Lovesac in the third quarter valued at approximately $170,000. Valeo Financial Advisors LLC bought a new stake in shares of Lovesac in the third quarter worth $242,000. Finally, Quest Partners LLC boosted its holdings in Lovesac by 797.6% during the second quarter. Quest Partners LLC now owns 8,572 shares of the company’s stock worth $194,000 after purchasing an additional 7,617 shares during the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LOVE. Roth Mkm lifted their price target on shares of Lovesac from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Craig Hallum lifted their target price on Lovesac from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 13th. DA Davidson reissued a “buy” rating and set a $32.00 price target on shares of Lovesac in a research report on Thursday, October 3rd. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $36.00 price target on shares of Lovesac in a research note on Friday, September 13th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $34.50.

Lovesac Stock Performance

Lovesac stock opened at $31.02 on Friday. The stock has a 50-day simple moving average of $27.76 and a 200 day simple moving average of $25.93. The stock has a market capitalization of $482.67 million, a P/E ratio of 60.82, a PEG ratio of 0.82 and a beta of 2.91. The Lovesac Company has a 52 week low of $18.00 and a 52 week high of $32.42.

Lovesac (NASDAQ:LOVE) last posted its earnings results on Thursday, September 12th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. Lovesac had a return on equity of 4.83% and a net margin of 1.41%. The business had revenue of $156.59 million for the quarter, compared to analyst estimates of $154.01 million. Research analysts forecast that The Lovesac Company will post 1.09 earnings per share for the current year.

Insider Buying and Selling at Lovesac

In other news, Director Albert Jack Krause sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $26.22, for a total transaction of $262,200.00. Following the completion of the sale, the director now owns 177,849 shares in the company, valued at $4,663,200.78. The trade was a 5.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 12.33% of the company’s stock.

Lovesac 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.