CastleKnight Management LP Has $1.97 Million Holdings in Sleep Number Co. (NASDAQ:SNBR)

CastleKnight Management LP boosted its stake in shares of Sleep Number Co. (NASDAQ:SNBR - Free Report) by 57.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 129,243 shares of the company's stock after purchasing an additional 46,900 shares during the period. CastleKnight Management LP owned about 0.58% of Sleep Number worth $1,970,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC acquired a new position in shares of Sleep Number during the 4th quarter worth $14,861,000. Hodges Capital Management Inc. lifted its holdings in shares of Sleep Number by 22.7% during the fourth quarter. Hodges Capital Management Inc. now owns 1,240,507 shares of the company's stock worth $18,905,000 after buying an additional 229,587 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Sleep Number by 18.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 385,599 shares of the company's stock worth $5,877,000 after acquiring an additional 60,410 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Sleep Number in the fourth quarter worth $183,000. Finally, Jump Financial LLC bought a new position in shares of Sleep Number during the 4th quarter worth about $830,000. Hedge funds and other institutional investors own 85.67% of the company's stock.

Insider Buying and Selling

In other Sleep Number news, insider Gary T. Fazio acquired 12,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $7.54 per share, for a total transaction of $90,480.00. Following the acquisition, the insider now directly owns 71,125 shares of the company's stock, valued at approximately $536,282.50. This trade represents a 20.30 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SNBR. StockNews.com lowered Sleep Number from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Wedbush lowered their price target on Sleep Number from $18.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, March 6th. UBS Group set a $7.00 target price on shares of Sleep Number in a report on Friday, April 25th. Finally, Piper Sandler cut their price target on shares of Sleep Number from $11.00 to $6.00 and set a "neutral" rating for the company in a report on Friday, April 11th.

Sleep Number Trading Down 0.8 %

Shares of NASDAQ SNBR opened at $7.07 on Tuesday. The company has a market cap of $160.21 million, a PE ratio of -3.91 and a beta of 1.75. The company has a 50-day moving average of $7.03 and a two-hundred day moving average of $12.79. Sleep Number Co. has a 1-year low of $4.48 and a 1-year high of $20.75.

Sleep Number (NASDAQ:SNBR - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.27). The firm had revenue of $393.26 million for the quarter, compared to the consensus estimate of $397.95 million. The company's revenue was down 16.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.33) earnings per share. As a group, equities research analysts forecast that Sleep Number Co. will post -0.42 earnings per share for the current year.

Sleep Number Company Profile

Sleep Number Corporation, together with its subsidiaries, offers sleep solutions and services in the United States. The company designs, manufactures, markets, retails, and services beds, pillows, sheets, and other bedding products under the Sleep Number name. It also provides smart adjustable bases under the FlextFit brand, and smart beds under the Climate 360 name.

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