Governors Lane LP Takes $11.83 Million Position in Somnigroup International Inc. $SGI

Governors Lane LP acquired a new position in shares of Somnigroup International Inc. (NYSE:SGI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 150,885 shares of the company's stock, valued at approximately $11,829,000. Somnigroup International makes up approximately 0.9% of Governors Lane LP's portfolio, making the stock its 25th biggest holding. Governors Lane LP owned 0.07% of Somnigroup International at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SGI. Sanctuary Advisors LLC boosted its position in shares of Somnigroup International by 5.1% in the 4th quarter. Sanctuary Advisors LLC now owns 2,912 shares of the company's stock valued at $260,000 after purchasing an additional 141 shares during the period. PNC Financial Services Group Inc. lifted its stake in Somnigroup International by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,926 shares of the company's stock valued at $975,000 after buying an additional 142 shares in the last quarter. Platform Technology Partners boosted its holdings in shares of Somnigroup International by 5.9% in the first quarter. Platform Technology Partners now owns 2,770 shares of the company's stock worth $205,000 after buying an additional 155 shares during the period. Illinois Municipal Retirement Fund increased its position in shares of Somnigroup International by 0.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 32,172 shares of the company's stock worth $2,872,000 after acquiring an additional 172 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Somnigroup International by 1.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 18,115 shares of the company's stock worth $1,617,000 after acquiring an additional 173 shares in the last quarter. 99.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of Somnigroup International in a research report on Monday, July 27th. They issued an "overweight" rating and a $95.00 price target for the company. Weiss Ratings reissued a "hold (c+)" rating on shares of Somnigroup International in a research note on Friday, August 21st. Zelman & Associates started coverage on Somnigroup International in a report on Tuesday, June 23rd. They issued an "outperform" rating and a $99.00 target price for the company. Truist Financial decreased their target price on Somnigroup International from $115.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Finally, Zacks Research lowered Somnigroup International from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.12.

Insiders Place Their Bets

In other news, CEO Scott Thompson purchased 30,000 shares of the business's stock in a transaction dated Thursday, August 27th. The stock was bought at an average cost of $62.84 per share, with a total value of $1,885,200.00. Following the purchase, the chief executive officer directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.99% of the stock is currently owned by insiders.

Somnigroup International Stock Down 0.4%

SGI stock opened at $69.59 on Wednesday. Somnigroup International Inc. has a 12-month low of $60.39 and a 12-month high of $98.56. The company has a quick ratio of 0.37, a current ratio of 0.75 and a debt-to-equity ratio of 1.33. The company has a market cap of $14.64 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 1.17 and a beta of 1.19. The company has a 50 day moving average of $69.02 and a two-hundred day moving average of $73.19.

Somnigroup International (NYSE:SGI - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. Somnigroup International had a net margin of 7.00% and a return on equity of 19.32%. The business had revenue of $1.82 billion for the quarter. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The company'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. On average, equities analysts anticipate that Somnigroup International Inc. will post 3.04 earnings per share for the current fiscal year.

Somnigroup International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were paid a $0.17 dividend. The ex-dividend date was Thursday, August 20th. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. Somnigroup International's payout ratio is 27.20%.

Somnigroup International 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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