Man Group plc Makes New $694,000 Investment in Sleep Number Co. (NASDAQ:SNBR)

Man Group plc bought a new stake in Sleep Number Co. (NASDAQ:SNBR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 45,527 shares of the company's stock, valued at approximately $694,000. Man Group plc owned about 0.20% of Sleep Number as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in shares of Sleep Number in the 4th quarter worth about $33,000. Tower Research Capital LLC TRC increased its position in Sleep Number by 6,582.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,551 shares of the company's stock worth $115,000 after buying an additional 7,438 shares in the last quarter. Diametric Capital LP purchased a new stake in Sleep Number in the 4th quarter worth $160,000. Proficio Capital Partners LLC bought a new position in shares of Sleep Number during the fourth quarter worth $183,000. Finally, Wells Fargo & Company MN increased its position in Sleep Number by 26.7% in the fourth quarter. Wells Fargo & Company MN now owns 13,063 shares of the company's stock worth $199,000 after purchasing an additional 2,756 shares during the last quarter. Hedge funds and other institutional investors own 85.67% of the company's stock.

Insider Activity at Sleep Number

In related news, CFO Francis K. Lee bought 7,200 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was bought at an average price of $7.12 per share, for a total transaction of $51,264.00. Following the transaction, the chief financial officer now directly owns 92,970 shares in the company, valued at $661,946.40. This represents a 8.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Linda Findley bought 61,020 shares of the stock in a transaction on Wednesday, May 7th. The shares were acquired at an average cost of $7.12 per share, for a total transaction of $434,462.40. Following the completion of the transaction, the chief executive officer now directly owns 604,106 shares of the company's stock, valued at approximately $4,301,234.72. The trade was a 11.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 80,220 shares of company stock worth $576,206 in the last three months. 7.50% of the stock is owned by company insiders.

Sleep Number Stock Down 0.4%

Shares of SNBR stock traded down $0.05 during trading hours on Friday, hitting $11.33. 73,025 shares of the company were exchanged, compared to its average volume of 525,505. Sleep Number Co. has a 1 year low of $4.48 and a 1 year high of $20.75. The firm has a fifty day moving average of $7.06 and a 200 day moving average of $12.21. The firm has a market cap of $256.74 million, a PE ratio of -6.22 and a beta of 1.75.

Sleep Number (NASDAQ:SNBR - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.27). The business had revenue of $393.26 million during the quarter, compared to the consensus estimate of $397.95 million. The firm's quarterly revenue was down 16.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.33) earnings per share. Analysts expect that Sleep Number Co. will post -0.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group set a $7.00 price objective on shares of Sleep Number in a research note on Friday, April 25th. Wall Street Zen cut Sleep Number from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Piper Sandler lowered their price target on shares of Sleep Number from $11.00 to $6.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Wedbush reduced their target price 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.

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.