Lovesac (LOVE) Coverage Initiated by Analysts at DA Davidson

DA Davidson assumed coverage on shares of Lovesac (NASDAQ:LOVE) in a report issued on Monday morning, The Fly reports. The brokerage issued a buy rating on the stock.

LOVE has been the topic of a number of other research reports. Canaccord Genuity started coverage on Lovesac in a report on Sunday, December 2nd. They issued a buy rating and a $19.19 target price on the stock. Zacks Investment Research downgraded Lovesac from a hold rating to a sell rating in a research note on Thursday, January 3rd.

LOVE stock opened at $28.41 on Monday. Lovesac has a fifty-two week low of $16.46 and a fifty-two week high of $34.22.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Deutsche Bank AG raised its stake in shares of Lovesac by 5.2% in the fourth quarter. Deutsche Bank AG now owns 7,441 shares of the company’s stock worth $170,000 after buying an additional 367 shares during the period. Geode Capital Management LLC raised its stake in shares of Lovesac by 147.1% in the fourth quarter. Geode Capital Management LLC now owns 54,776 shares of the company’s stock worth $1,256,000 after buying an additional 32,607 shares during the period. Penn Capital Management Co. Inc. raised its stake in shares of Lovesac by 55.8% in the fourth quarter. Penn Capital Management Co. Inc. now owns 107,542 shares of the company’s stock worth $2,467,000 after buying an additional 38,497 shares during the period. Millennium Management LLC bought a new position in shares of Lovesac in the fourth quarter worth about $288,000. Finally, Intrinsic Edge Capital Management LLC bought a new position in shares of Lovesac in the fourth quarter worth about $1,502,000. 51.68% of the stock is currently owned by hedge funds and other institutional investors.

About Lovesac

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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