Hodges Capital Management Inc. Lowers Position in Sleep Number Corporation $SNBR

Key Points

• Hodges Capital Management Inc. reduced its holdings in Sleep Number Corporation by 70.7% in the first quarter, now owning approximately 1.60% of the company's shares.
• Multiple institutional investors have increased their stakes in Sleep Number, with Federated Hermes Inc. boosting its position by 102.7% and NBC Securities Inc. increasing its stake by over 84,000%.
• Sleep Number's stock price has risen 10.7% recently, despite the company reporting a quarterly loss of ($1.09) earnings per share, which was significantly below analysts' expectations.

Hodges Capital Management Inc. reduced its position in Sleep Number Corporation (NASDAQ:SNBR - Free Report) by 70.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 363,633 shares of the company's stock after selling 876,874 shares during the quarter. Hodges Capital Management Inc. owned 1.60% of Sleep Number worth $2,305,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Stadium Capital Management LLC boosted its holdings in Sleep Number by 30.3% during the 4th quarter. Stadium Capital Management LLC now owns 2,616,459 shares of the company's stock valued at $39,875,000 after acquiring an additional 608,092 shares during the period. Brightlight Capital Management LP boosted its holdings in Sleep Number by 13.2% during the 1st quarter. Brightlight Capital Management LP now owns 1,111,700 shares of the company's stock valued at $7,048,000 after acquiring an additional 129,212 shares during the period. Pacific Ridge Capital Partners LLC boosted its holdings in Sleep Number by 42.1% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 628,667 shares of the company's stock valued at $3,986,000 after acquiring an additional 186,255 shares during the period. AQR Capital Management LLC boosted its holdings in Sleep Number by 283.3% during the 1st quarter. AQR Capital Management LLC now owns 403,061 shares of the company's stock valued at $2,555,000 after acquiring an additional 297,916 shares during the period. Finally, Schwarz Dygos Wheeler Investment Advisors LLC boosted its holdings in Sleep Number by 188.6% during the 1st quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 396,777 shares of the company's stock valued at $2,516,000 after acquiring an additional 259,314 shares during the period. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

Sleep Number Trading Up 4.6%

NASDAQ SNBR traded up $0.41 on Wednesday, hitting $9.25. The company's stock had a trading volume of 118,911 shares, compared to its average volume of 636,328. Sleep Number Corporation has a 52-week low of $4.48 and a 52-week high of $20.75. The company's 50-day simple moving average is $9.12 and its 200 day simple moving average is $8.10. The firm has a market cap of $210.62 million, a P/E ratio of -5.05 and a beta of 1.77.

Sleep Number (NASDAQ:SNBR - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.97). The business had revenue of $327.93 million during the quarter, compared to analyst estimates of $357.42 million. During the same period in the prior year, the business posted ($0.22) EPS. The business's revenue for the quarter was down 19.7% on a year-over-year basis. Sleep Number has set its FY 2025 guidance at EPS. On average, research analysts forecast that Sleep Number Corporation will post -0.42 EPS for the current fiscal year.

About Sleep Number

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.