Principal Global Investors LLC recently announced the acquisition of new stake in Lulu’s Fashion Lounge Holdings Inc. (NASDAQ:LVLU). The institutional investor has increased its shareholding in the Consumer Cyclical company by 8.99% to 2.16 million shares with purchase of 0.18 million shares. This fresh investment now brings its stake to 5.52% valued currently at $5.41 million. In addition, Millennium Management LLC raised its holdings by 0.62 million to 0.64 million shares. And BlackRock Fund Advisors has lifted its position by 154.79% or 0.37 million shares – to 0.61 million shares.
With over 88961.0 Lulu’s Fashion Lounge Holdings Inc. (LVLU) shares trading Tuesday and a closing price of $2.79 on the day, the dollar volume was approximately $0.25 million. The shares have shown a negative half year performance of -66.47% and its price on 01/24/23 lost nearly -5.42%. Currently, there are 38.71M common shares owned by the public and among those 37.95M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for LVLU have a consensus price objective of $8.41. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $5.00. The average price target is 66.83% above its recent price level and an upside to the estimated low will see the stock gain 44.2% over that period. But an upside of 81.4% will see the stock hit the forecast high price target while median target price for the stock is $7.40.
Insiders at the company have transacted a total of 26 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 215,950 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 63,705 shares.
The top 3 mutual fund holders in Lulu’s Fashion Lounge Holdings Inc. are Canada Pension Plan, Vanguard Total Stock Market Index, and Principal Investors – Small Cap F. Canada Pension Plan owns 7.5 million shares of the company’s stock, all valued at over $18.82 million. The company bought an additional 7.5 million shares recently to bring their total holdings to about 19.18% of the shares outstanding. Principal Investors – Small Cap F now owns shares totaling to 1.00% of the shares outstanding.
However, the script later moved the day high at 3.0000, down -5.42%. The company’s stock has a 5-day price change of 0.72% and -49.46% over the past three months. LVLU shares are trading 11.16% year to date (YTD), with the 12-month market performance down to -66.71% lower. It has a 12-month low price of $2.16 and touched a high of $21.29 over the same period. LVLU has an average intraday trading volume of 148.04K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.22%, -17.46%, and -62.56% respectively.
Institutional ownership of Lulu’s Fashion Lounge Holdings Inc. (NASDAQ: LVLU) shares accounts for 89.40% of the company’s 38.71M shares outstanding. Mutual fund holders own 25.43%, while other institutional holders and individual stakeholders account for 9.25% and 21.81% respectively.
It has a market capitalization of $110.57M. The earnings-per-share (ttm) stands at -$3.14. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.00% over the week and 8.06% over the month.
Analysts forecast that Lulu’s Fashion Lounge Holdings Inc. (LVLU) will achieve an EPS of $0.09 for the current quarter, $0.02 for the next quarter and $0.51 for 2023. The lowest estimate earnings-per-share for the quarter is $0.05 while analysts give the company a high EPS estimate of $0.16. Comparatively, EPS for the current quarter was $0.13 a year ago. Earnings per share for the fiscal year are expected to decrease by -520.80%, and 146.77% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Lulu’s Fashion Lounge Holdings Inc. (LVLU) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 3 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the LVLU, a number of firms have released research notes about the stock. Cowen stated their Market Perform rating for the stock in a research note on November 23, 2022, with the firm’s price target at $8-$5.50. Piper Sandler coverage for the Lulu’s Fashion Lounge Holdings Inc. (LVLU) stock in a research note released on July 22, 2022 offered a Neutral rating with a price target of $14. KeyBanc Capital Markets was of a view on July 21, 2022 that the stock is Overweight, while BofA Securities gave the stock Neutral rating on June 10, 2022, issuing a price target of $14- $21. Telsey Advisory Group on their part issued Outperform rating on December 06, 2021.
