Andrew R. Heyer, a director at Lovesac Co (NASDAQ: LOVE), has acquired 30,000 shares of the company's common stock, according to a recent SEC filing. The transaction, valued at $440,400, reflects a weighted average price of $14.68 per share, with individual shares purchased at prices ranging from $14.105 to $14.830. Following this acquisition, Heyer directly owns 293,259 shares of LOVE.
The purchase comes as the stock trades at $13.98, representing a decline of approximately 20% over the past year. Despite the stock's recent performance, some analysis suggests the company may be undervalued based on current fair value assessments. Net income is expected to grow this year, and the company has been profitable over the last twelve months.
In other recent news, The Lovesac Company reported first-quarter fiscal 2026 results, surpassing Wall Street revenue expectations with net sales of $138.2 million, slightly above the forecast of $135.83 million. Despite the revenue beat, the company experienced a wider net loss of $11.1 million, or 76 cents per share, compared to a loss of $10.8 million, or 73 cents per share, from the previous year.
DA Davidson responded to these results by raising its price target for Lovesac to $20, maintaining a Buy rating, citing the company's performance in a declining industry. Conversely, Canaccord lowered its price target to $22, also maintaining a Buy rating, while acknowledging ongoing challenges in the furniture sector. Lovesac's recent appointment of Andrew Farag as Chief Financial Officer comes as the company navigates these financial hurdles. Farag replaces Keith Siegner, who will remain temporarily to assist with the transition. The company continues to face profit pressures and a challenging market environment, as noted by analysts.