Goodnow Investment Group LLC Acquires New Holdings in Somnigroup International Inc. $SGI

Key Points

• Goodnow Investment Group acquired 687,425 Somnigroup International shares worth approximately $53.9 million, making SGI its seventh-largest holding and representing 5.6% of its portfolio. Institutional investors collectively own 99.86% of the company.
• SGI shares opened at $64.42, well below their 50-day and 200-day moving averages and near the company’s one-year low. The company reported quarterly EPS of $0.58, matching estimates, while revenue fell 3% year over year to $1.82 billion.
• Somnigroup declared a quarterly dividend of $0.17 per share, equivalent to a 1.1% yield. Despite some recent downgrades, analysts maintain a consensus “Moderate Buy” rating with an average price target of $94.50.

Goodnow Investment Group LLC bought a new stake in Somnigroup International Inc. (NYSE:SGI - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 687,425 shares of the company's stock, valued at approximately $53,894,000. Somnigroup International makes up about 5.6% of Goodnow Investment Group LLC's holdings, making the stock its 7th largest holding. Goodnow Investment Group LLC owned 0.33% of Somnigroup International at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SGI. HB Wealth Management LLC boosted its holdings in shares of Somnigroup International by 1.0% in the fourth quarter. HB Wealth Management LLC now owns 11,885 shares of the company's stock valued at $1,061,000 after acquiring an additional 115 shares in the last quarter. Sanctuary Advisors LLC lifted its position in Somnigroup International by 5.1% in the fourth quarter. Sanctuary Advisors LLC now owns 2,912 shares of the company's stock worth $260,000 after purchasing an additional 141 shares during the period. PNC Financial Services Group Inc. lifted its position in Somnigroup International by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,926 shares of the company's stock worth $975,000 after purchasing an additional 142 shares during the period. Fifth Third Bancorp boosted its stake in Somnigroup International by 8.1% during the 4th quarter. Fifth Third Bancorp now owns 1,974 shares of the company's stock valued at $176,000 after purchasing an additional 148 shares in the last quarter. Finally, Platform Technology Partners boosted its stake in Somnigroup International by 5.9% during the 1st quarter. Platform Technology Partners now owns 2,770 shares of the company's stock valued at $205,000 after purchasing an additional 155 shares in the last quarter. 99.86% of the stock is currently owned by institutional investors.

Somnigroup International Trading Down 0.4%

SGI stock opened at $64.42 on Tuesday. The business's 50 day moving average is $71.19 and its 200-day moving average is $75.38. Somnigroup International Inc. has a 1-year low of $60.39 and a 1-year high of $98.56. The firm has a market cap of $13.55 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.45 and a beta of 1.20. The company has a current ratio of 0.75, a quick ratio of 0.37 and a debt-to-equity ratio of 1.33.

Somnigroup International (NYSE:SGI - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.58. Somnigroup International had a net margin of 7.00% and a return on equity of 19.32%. The company had revenue of $1.82 billion during the quarter. During the same quarter last year, the firm posted $0.53 EPS. The business's revenue was down 3.0% on a year-over-year basis. Somnigroup International has set its FY 2026 guidance at 2.850-3.150 EPS. Equities analysts anticipate that Somnigroup International Inc. will post 3.02 earnings per share for the current fiscal year.

Somnigroup International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 20th. Somnigroup International's dividend payout ratio (DPR) is presently 27.20%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SGI shares. Wall Street Zen downgraded Somnigroup International from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Zelman & Associates started coverage on Somnigroup International in a research report on Tuesday, June 23rd. They issued an "outperform" rating and a $99.00 price target for the company. Truist Financial cut their target price on shares of Somnigroup International from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Zacks Research cut shares of Somnigroup International from a "hold" rating to a "strong sell" rating in a report on Monday, August 10th. Finally, Weiss Ratings downgraded Somnigroup International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $94.50.

About Somnigroup International

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.

Want to see what other hedge funds are holding SGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Somnigroup International Inc. (NYSE:SGI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source