Mutual Advisors LLC Invests $459,000 in Sleep Number Corporation $SNBR

Key Points

• Mutual Advisors LLC invested $459,000 in Sleep Number Corporation, acquiring 67,835 shares, representing approximately 0.30% ownership of the company.
• Sleep Number reported a loss of $1.09 EPS in its most recent quarterly earnings, significantly missing the consensus estimate, with a revenue decline of 19.7% year-over-year.
• Institutional investors hold about 85.67% of Sleep Number's stock, with several firms making significant adjustments to their positions in the company recently.

Mutual Advisors LLC acquired a new position in Sleep Number Corporation (NASDAQ:SNBR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 67,835 shares of the company's stock, valued at approximately $459,000. Mutual Advisors LLC owned about 0.30% of Sleep Number at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC boosted its holdings in shares of Sleep Number by 218.7% in the first quarter. CWM LLC now owns 11,963 shares of the company's stock worth $76,000 after buying an additional 8,209 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Sleep Number by 116.1% in the first quarter. GAMMA Investing LLC now owns 16,085 shares of the company's stock worth $102,000 after buying an additional 8,642 shares during the period. Strs Ohio acquired a new position in shares of Sleep Number in the first quarter worth about $130,000. Ieq Capital LLC acquired a new position in shares of Sleep Number in the first quarter worth about $142,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of Sleep Number by 1,009.4% in the first quarter. Acadian Asset Management LLC now owns 34,304 shares of the company's stock worth $216,000 after buying an additional 31,212 shares during the period. 85.67% of the stock is currently owned by institutional investors and hedge funds.

Sleep Number Stock Performance

SNBR stock opened at $6.37 on Tuesday. The stock has a market cap of $145.04 million, a P/E ratio of -3.50 and a beta of 1.74. The firm has a 50 day simple moving average of $8.67 and a 200 day simple moving average of $8.04. Sleep Number Corporation has a 52 week low of $4.48 and a 52 week high of $20.73.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Sleep Number in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $8.33.

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.

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