FMR LLC & Abigail Johnson Disclose 6.582% Stake in Lovesac

TL;DR

**FMR LLC and Abigail Johnson still own 6.582% of Lovesac, showing continued institutional interest.**

AI Summary

FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have updated their ownership stake in Lovesac Co. As of February 9, 2024, they collectively beneficially own 1,019,561 shares of Lovesac's common stock, representing 6.582% of the company. This is an amendment to a previous filing, indicating a change in their holdings, which matters to investors as it shows a significant institutional investor's current conviction (or lack thereof) in Lovesac's stock.

Why It Matters

This filing reveals that a major institutional investor, FMR LLC, and its leader, Abigail P. Johnson, maintain a significant stake in Lovesac, signaling their continued interest in the company's performance.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of ownership by a large institutional investor and does not inherently present new risks to the company or its shareholders.

Analyst Insight

Investors should note that a significant institutional holder, FMR LLC, and its principal, Abigail P. Johnson, maintain a substantial stake in Lovesac, which could be seen as a vote of confidence, but this filing alone doesn't indicate a new buy or sell action, only an updated ownership percentage.

Key Numbers

• 1,019,561 — Shares Beneficially Owned (Total shares of Lovesac common stock owned by FMR LLC and Abigail P. Johnson.)
• 6.582% — Percentage of Class (The percentage of Lovesac's common stock owned by FMR LLC and Abigail P. Johnson.)

Key Players & Entities

• FMR LLC (company) — reporting person and parent holding company
• Abigail P. Johnson (person) — reporting person and principal owner of FMR LLC
• Lovesac Co (company) — the subject company whose shares are being reported
• 1,019,561 (dollar_amount) — number of shares beneficially owned
• 6.582% (dollar_amount) — percentage of class beneficially owned

FAQ

From the Filing

0000315066-24-001228.txt : 20240209 0000315066-24-001228.hdr.sgml : 20240209 20240209091605 ACCESSION NUMBER: 0000315066-24-001228 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 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: 24611754 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: FMR LLC CENTRAL INDEX KEY: 0000315066 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 043532603 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 6175706339 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FMR CORP DATE OF NAME CHANGE: 19920717 SC 13G/A 1 filing.txt SCHEDULE 13G Amendment No.4 LOVESAC COMMON STOCK Cusip #54738L109 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) Cusip #54738L109 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 1,018,550 Item 6: 0 Item 7: 1,019,561 Item 8: 0 Item 9: 1,019,561 Item 11: 6.582% Item 12: HC Cusip #54738L109 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 1,019,561 Item 8: 0 Item 9: 1,019,561 Item 11: 6.582% Item 12: IN Item 1(a). Name of Issuer: LOVESAC Item 1(b). Address of Issuer's Principal Executive Offices: TWO LANDMARK SQUARE, SUITE 300 STAMFORD, CT 06901 USA Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: COMMON STOCK Item 2(e). CUSIP Number: 54738L109 Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c) and the person filing, FMR LLC, is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G). (Note: See Exhibit A). Item 4. Ownership (a) Amount Beneficially Owned: 1,019,561 (b) Percent of Class: 6.582% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 1,019,561 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of LOVESAC. No one other person's interest in the COMMON STOCK of LOVESAC is more than five percent of the total outstanding COMMON STOCK. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. See attached Exhibit A. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held