BlackRock Amends Lovesac Stake, Signals Continued Confidence

Ticker: LOVE · Form: SC 13G/A · Filed: 2024-01-26T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, passive-investing

TL;DR

**BlackRock still owns Lovesac stock, signaling institutional confidence.**

AI Summary

BlackRock Inc. filed an amended SC 13G/A on January 26, 2024, indicating its ownership of Lovesac Co. common stock as of December 31, 2023. This amendment (Amendment No. 2) updates previous disclosures, confirming BlackRock's continued significant, but passive, stake in the furniture retailer. This matters to investors because BlackRock is a major institutional investor, and its continued holding signals confidence in Lovesac's long-term prospects, potentially influencing other investors.

Why It Matters

BlackRock's updated filing confirms its ongoing substantial, passive investment in Lovesac, which can be seen as a vote of confidence from a major institutional player.

Risk Assessment

Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate change in company operations or significant risk.

Analyst Insight

A smart investor would view this as a routine update from a large institutional holder, confirming their existing position, and would not make immediate trading decisions based solely on this filing. Instead, they would continue to monitor Lovesac's financial performance and market conditions.

Key Players & Entities

Forward-Looking Statements

FAQ

What type of filing is this document?

This document is an SC 13G/A, which is an amendment (Amendment No. 2) to a Schedule 13G filing, used by passive investors to report beneficial ownership of 5% or more of a company's stock.

Who is the reporting person in this filing?

The reporting person is BlackRock, Inc., a major institutional investment manager.

What is the subject company whose shares are being reported?

The subject company is Lovesac Co., a furniture retailer with the CIK 0001701758.

What is the date of the event that triggered this filing?

The date of the event which requires the filing of this statement is December 31, 2023.

Under which rule is this Schedule 13G/A filed?

This Schedule 13G/A is filed under Rule 13d-1(b), as indicated by the 'X' in the appropriate box.

From the Filing

0001086364-24-004417.txt : 20240126 0001086364-24-004417.hdr.sgml : 20240126 20240126114946 ACCESSION NUMBER: 0001086364-24-004417 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240126 DATE AS OF CHANGE: 20240126 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Lovesac Co CENTRAL INDEX KEY: 0001701758 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-FURNITURE STORES [5712] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 320514958 STATE OF INCORPORATION: DE FISCAL YEAR END: 0204 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-90554 FILM NUMBER: 24565924 BUSINESS ADDRESS: STREET 1: TWO LANDMARK SQUARE, SUITE 300 CITY: STAMFORD STATE: CT ZIP: 06901 BUSINESS PHONE: 203-817-2279 MAIL ADDRESS: STREET 1: TWO LANDMARK SQUARE, SUITE 300 CITY: STAMFORD STATE: CT ZIP: 06901 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us54738l1098_012624.txt us54738l1098_012624.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 2) Lovesac Co -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 54738L109 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 54738L109 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 1167298 (6) Shared voting power 0 (7) Sole dispositive power 1174234 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 1174234 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 7.6% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- Lovesac Co Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- TWO LANDMARK SQUARE, SUITE 300 STAMFORD CT 06901 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2(b) Address or principal business office or, if none, residence: ----------------------------------------

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