Lovesac (NASDAQ:LOVE) Price Target Raised to $35.00

Lovesac (NASDAQ:LOVE) had its price target boosted by Craig Hallum from $30.00 to $35.00 in a research report released on Friday morning, Benzinga reports. Craig Hallum currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group reaffirmed a buy rating and set a $36.00 price target on shares of Lovesac in a research note on Friday, June 14th. Maxim Group lifted their target price on Lovesac from $36.00 to $38.00 and gave the company a buy rating in a research report on Monday, June 17th. DA Davidson boosted their price target on shares of Lovesac from $24.00 to $32.00 and gave the stock a buy rating in a report on Friday, June 14th. Finally, Roth Mkm raised their target price on Lovesac from $30.00 to $31.00 and gave the stock a buy rating in a research note on Friday. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $34.50.

Lovesac Price Performance

Lovesac stock opened at $26.35 on Friday. The firm has a market cap of $409.77 million, a PE ratio of 31.00, a price-to-earnings-growth ratio of 0.55 and a beta of 2.90. The stock’s fifty day moving average price is $24.70 and its two-hundred day moving average price is $23.98. Lovesac has a one year low of $14.18 and a one year high of $30.39.

Insider Activity at Lovesac

In other Lovesac news, CEO Shawn David Nelson sold 18,988 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $23.33, for a total value of $442,990.04. Following the completion of the sale, the chief executive officer now owns 165,855 shares in the company, valued at approximately $3,869,397.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. 12.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Lovesac

A number of hedge funds and other institutional investors have recently bought and sold shares of LOVE. Price T Rowe Associates Inc. MD boosted its holdings in Lovesac by 8.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,633 shares of the company’s stock worth $218,000 after purchasing an additional 726 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Lovesac by 12.8% in the first quarter. Russell Investments Group Ltd. now owns 13,966 shares of the company’s stock worth $316,000 after buying an additional 1,584 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Lovesac during the first quarter valued at approximately $39,000. Meeder Asset Management Inc. purchased a new stake in Lovesac in the 2nd quarter valued at about $43,000. Finally, Rhumbline Advisers raised its holdings in shares of Lovesac by 12.4% in the 2nd quarter. Rhumbline Advisers now owns 22,199 shares of the company’s stock valued at $501,000 after purchasing an additional 2,449 shares in the last quarter. Hedge funds and other institutional investors own 91.32% of the company’s stock.

About Lovesac

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.