HomeInsider NewsThe Lovesac Company Insider Just Sold 78,200 Shares. Should You?

The Lovesac Company [LOVE] Insider Just Sold 78,200 Shares. Should You?

On Jan. 06, Heyer Andrew R divested U.S. $3,634,952 in shares of The Lovesac Company. The Dir sold 78,200 shares at a price per share of $46.48. The transaction decreased this specific insider’s holdings to 1,653,008 shares worth around $78.52 million at present.

Oppenheimer maintained its The Lovesac Company [LOVE] rating to the equivalent of an Outperform but changed the price target to $40 from $30, in a research note dated September 11, 2020. That figure represents around a -18.75% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with Oppenheimer’s analysts reiterating the shares to “an Outperform” rating in a research note to investors issued in mid September. Meanwhile, BTIG Research had maintained its rating on LOVE to the earlier “Buy” rating, in a research note produced for clients June 10, 2020. In addition, there was a new coverage from BTIG Research on April 29, 2020. The research firm rated LOVE “a Buy”.

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Is The Lovesac Company [NASDAQ:LOVE] a Good Buy Right Now?

It should be noted that LOVE technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 88% Buy in the past month. Data from The Lovesac Company’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.4 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.36 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.34 million shares.

LOVE Price Performance

On Wall Street, The Lovesac Company [NASDAQ:LOVE] finished Friday’s session up 0.57% at $47.50. The stock went up to $49.54 at the same session while its lowest single day price was $45.87. In the last five days, it saw a rise of about 10.23%, The Lovesac Company shares gained by almost 10.23% since the beginning of the year. However, the share price has dropped to as low as -0.61% below its one year high. On 01/08/21, the company shares recorded $49.54, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $38.91. The company’s shares have inclined by 224.23% in the past year. The 50-day SMA achieved is $34.33 while the 200-day SMA is $25.68. Volume dropped to 0.29 million from 0.33 million in the previous session.

LOVE Stock Support And Resistance Levels

On the 24-hour scale, the immediate backing is perceived around 45.73 level, and in case of violation of this particular level, it will cause more drop to 43.97 level. On the upper level, 51.31 is still the key resistance. The stock may increase to the subsequent resistance at 49.40. The Relative Strength Index (RSI) pinned on the 14-day chart is 68.79, implying a neutral technical stance while the MACD stands at 2.56, meaning price will increase in the next trading period. Percent R indicator moved to 19.19%, implying bullish price movement. Stochastic %K at 84.90% suggest selling the stock.

What is the short interest in The Lovesac Company?

Short interest in the The Lovesac Company stock has surged, increasing by 80000.0 shares to total 2.89 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.97 million, data from Yahoo Finance shows. The decrease of -2.77% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 28.47% of the overall float for the stock.

The Lovesac Company’s Biggest Shareholders: Who Owns The Lovesac Company [LOVE]?

Filings by AllianceBernstein LP showed that the firm now holds a total of 1,463,423 shares or roughly 9.97% of the outstanding LOVE shares. This means their shares have increased by 1,214,169 from the 1,463,423 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Granahan Investment Management, I updated stake is worth $28,735,293. Details in the latest 13F filings reveal that Janus Capital Management LLC disposed off their -16.25% stake valued at $28,080,829 while Wasatch Advisors, Inc. cut theirs at $24,065,447. During the last quarter, Janus Capital Management LLC liquidated -170,963 of its shares in The Lovesac Company while Wasatch Advisors, Inc. sold -25,587 shares. The Hood River Capital Management LLC’s holdings currently number 682,891 shares at $32437322.5. According to the firm’s last 13F report, Fidelity Investments Canada ULC shares in the company at filing stood at 634,814 shares, roughly $20,237,870.

LOVE Earnings Forecast For The Current Quarter

The Lovesac Company [LOVE] is expected to report strong earnings results for the quarter ending on Jan 2021. Consensus estimates give the company expected revenues of $116.13M and an earnings per share of $0.59 for Jan 2021. Looking further ahead, the company is expected to report revenue of $69.05M at an EPS of -$0.57 for Apr 2021. The estimates represent upside of 23.30% and 72.94% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.

LOVE Earnings Estimates For The Current Year

For the financial year, The Lovesac Company [NASDAQ:LOVE] is expected to bring in revenue of $308.2M. The returns are nearly $74.82 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 0.17, higher than that of FY20 by $1.21. Estimates put this year’s earnings growth at 116.30%, 70.60% for the next, and at an annual 30.00% over the next 5-year period. As for sales, forecasts are for an increase of 32.10% in the current fiscal year and a further 23.30% over the following year.

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What are analyst thoughts on The Lovesac Company?

Looking forward to the The Lovesac Company share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for The Lovesac Company stock at $55.00 within the next 12 months, which represents almost 13.64 per cent growth from its previous closing price of $47.50. The highest analysts’ target for The Lovesac Company stock projections is $62.00 and the lowest one is $50.00. Still, 7 analysts sharing their consensus rating for LOVE stock in 2021 agree that it is a Buy.

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