Engineers Gate Manager LP Makes New Investment in Somnigroup International Inc. $SGI

Key Points

• Engineers Gate Manager LP acquired 765,457 Somnigroup International shares worth approximately $60 million, making SGI its 10th-largest holding and representing about 0.36% of the company.
• Analysts maintain a generally positive outlook, with seven Buy, two Hold, and one Sell ratings; the stock carries a “Moderate Buy” consensus and an average price target of $96.12.
• SGI reported quarterly earnings of $0.58 per share on $1.82 billion in revenue, while revenue declined 3% year over year. CEO Scott Thompson also purchased 30,000 shares, and the company pays a quarterly dividend of $0.17 per share.

Engineers Gate Manager LP purchased a new stake in shares of Somnigroup International Inc. (NYSE:SGI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 765,457 shares of the company's stock, valued at approximately $60,012,000. Somnigroup International comprises approximately 0.8% of Engineers Gate Manager LP's holdings, making the stock its 10th biggest position. Engineers Gate Manager LP owned approximately 0.36% of Somnigroup International as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Core Wealth Advisors LLC bought a new position in Somnigroup International during the fourth quarter valued at approximately $30,000. Allworth Financial LP bought a new stake in Somnigroup International in the second quarter worth approximately $31,000. Elyxium Wealth LLC bought a new stake in Somnigroup International in the fourth quarter worth approximately $35,000. Danske Bank A S acquired a new position in shares of Somnigroup International during the 2nd quarter worth $39,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of Somnigroup International in the 4th quarter valued at $42,000. Institutional investors own 99.86% of the company's stock.

Analyst Ratings Changes

SGI has been the subject of several recent analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Somnigroup International in a research note on Friday, August 21st. Morgan Stanley started coverage on shares of Somnigroup International in a research report on Monday, July 27th. They set an "overweight" rating and a $95.00 target price for the company. Truist Financial lowered their price target on Somnigroup International from $115.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Zelman & Associates initiated coverage on Somnigroup International in a research report on Tuesday, June 23rd. They set an "outperform" rating and a $99.00 price objective for the company. Finally, Piper Sandler restated an "overweight" rating and set a $100.00 target price (up from $95.00) on shares of Somnigroup International in a research note on Thursday, September 3rd. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $96.12.

Insider Activity at Somnigroup International

In other news, CEO Scott Thompson bought 30,000 shares of Somnigroup International stock in a transaction dated Thursday, August 27th. The shares were bought at an average price of $62.84 per share, for a total transaction of $1,885,200.00. Following the purchase, the chief executive officer owned 4,123,634 shares of the company's stock, valued at approximately $259,129,160.56. This trade represents a 0.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.99% of the company's stock.

Somnigroup International Stock Down 0.4%

SGI stock opened at $69.59 on Wednesday. The company has a market cap of $14.64 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The company has a quick ratio of 0.37, a current ratio of 0.75 and a debt-to-equity ratio of 1.33. Somnigroup International Inc. has a twelve month low of $60.39 and a twelve month high of $98.56. The business's 50-day simple moving average is $69.02 and its 200 day simple moving average is $73.19.

Somnigroup International (NYSE:SGI - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. The business had revenue of $1.82 billion during the quarter. Somnigroup International had a return on equity of 19.32% and a net margin of 7.00%.Somnigroup International's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 EPS. Somnigroup International has set its FY 2026 guidance at 2.850-3.150 EPS. On average, research analysts anticipate that Somnigroup International Inc. will post 3.04 earnings per share for the current year.

Somnigroup International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. Somnigroup International's dividend payout ratio (DPR) is presently 27.20%.

Somnigroup International Company Profile

Somnigroup International Inc, together with its subsidiaries, designs, manufactures, distributes, and retails bedding products in the United States and internationally. It provides mattresses, foundations and adjustable foundations, and adjustable bases, as well as other products comprising pillows, mattress covers, sheets, cushions, and various other accessories and comfort products under the Tempur-Pedic, Sealy, Stearns & Foster, Sealy, and Cocoon by Sealy brand names. The company sells its products through approximately company-owned stores, online, and call centers; and third party retailers, including third party distribution, hospitality, and healthcare.

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