Lovesac Co (NASDAQ:LOVE) shares rose 5.5% during mid-day trading on Tuesday . The company traded as high as $19.16 and last traded at $18.76, approximately 216,085 shares changed hands during mid-day trading. An increase of 35% from the average daily volume of 159,923 shares. The stock had previously closed at $17.78.

LOVE has been the subject of a number of recent research reports. Zacks Investment Research raised Lovesac from a “strong sell” rating to a “hold” rating in a research note on Friday, August 9th. Stifel Nicolaus began coverage on Lovesac in a research report on Friday, June 21st. They set a “buy” rating and a $38.00 price objective for the company. Oppenheimer began coverage on Lovesac in a research report on Thursday, August 8th. They set an “outperform” rating and a $30.00 price objective for the company. Roth Capital raised their price objective on Lovesac from $28.00 to $33.00 in a research report on Wednesday, April 24th. Finally, Craig Hallum reissued a “buy” rating and set a $45.00 price objective (up from $33.00) on shares of Lovesac in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $40.14.

The business has a 50-day moving average of $22.63 and a 200-day moving average of $29.82.

Lovesac (NASDAQ:LOVE) last issued its quarterly earnings data on Monday, June 10th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.11). The business had revenue of $40.96 million for the quarter, compared to analyst estimates of $40.66 million. Lovesac had a negative return on equity of 8.59% and a negative net margin of 5.62%. Lovesac’s revenue for the quarter was up 53.0% on a year-over-year basis. As a group, research analysts anticipate that Lovesac Co will post -0.7 EPS for the current year.

In related news, Director Satori Capital, Llc sold 550,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $34.38, for a total transaction of $18,909,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Sac Acquisition Llc sold 1,457,255 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $34.38, for a total value of $50,100,426.90. The disclosure for this sale can be found here. 54.70% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Glen Harbor Capital Management LLC purchased a new position in Lovesac during the 2nd quarter valued at about $29,000. Elkfork Partners LLC purchased a new position in Lovesac during the 2nd quarter valued at about $35,000. BNP Paribas Arbitrage SA boosted its holdings in Lovesac by 1,264.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,187 shares of the company’s stock valued at $33,000 after acquiring an additional 1,100 shares during the period. Morgan Stanley boosted its holdings in Lovesac by 196.3% during the 2nd quarter. Morgan Stanley now owns 2,948 shares of the company’s stock valued at $92,000 after acquiring an additional 1,953 shares during the period. Finally, FNY Investment Advisers LLC boosted its holdings in Lovesac by 13.4% during the 2nd quarter. FNY Investment Advisers LLC now owns 4,094 shares of the company’s stock valued at $127,000 after acquiring an additional 484 shares during the period. Institutional investors own 52.52% of the company’s stock.

About Lovesac (NASDAQ:LOVE)

The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. It offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, footsac blankets, decorative pillows, fitted seat tables, and ottomans.

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