Royce & Associates LP Raises Position in Sonos, Inc. $SONO

Key Points

• Royce & Associates LP increased its stake in Sonos by 1,230.7% in Q3 to 316,266 shares, representing about 0.26% of the company and valued at roughly $4.997 million.
• Coliseum Capital bought 494,719 shares on Feb. 4, raising its holding to 15,424,999 shares, and insiders purchased about 1.99 million shares last quarter while institutional investors own roughly 85.82% of the stock.
• Sonos shares recently opened at $15.33 (up ~3.9%), market cap ~$1.85B, and the company beat Q4 EPS and revenue estimates; analysts have a consensus Moderate Buy rating with a $20 target but expect fiscal-year EPS of about -0.37.

Royce & Associates LP boosted its holdings in Sonos, Inc. (NASDAQ:SONO - Free Report) by 1,230.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 316,266 shares of the company's stock after purchasing an additional 292,500 shares during the period. Royce & Associates LP owned approximately 0.26% of Sonos worth $4,997,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SONO. Nisa Investment Advisors LLC increased its holdings in shares of Sonos by 65.6% in the second quarter. Nisa Investment Advisors LLC now owns 3,203 shares of the company's stock worth $35,000 after buying an additional 1,269 shares during the period. Centaurus Financial Inc. grew its position in Sonos by 9.0% during the 2nd quarter. Centaurus Financial Inc. now owns 10,375 shares of the company's stock worth $112,000 after acquiring an additional 856 shares during the last quarter. Integrated Investment Consultants LLC purchased a new position in Sonos in the 2nd quarter worth approximately $139,000. Allworth Financial LP lifted its position in Sonos by 1,917.0% in the second quarter. Allworth Financial LP now owns 12,929 shares of the company's stock valued at $140,000 after purchasing an additional 12,288 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Sonos by 359.2% in the second quarter. Tower Research Capital LLC TRC now owns 13,568 shares of the company's stock valued at $147,000 after purchasing an additional 10,613 shares during the last quarter. 85.82% of the stock is owned by institutional investors.

Sonos Trading Up 3.9%

Shares of Sonos stock opened at $15.33 on Thursday. Sonos, Inc. has a 12-month low of $7.63 and a 12-month high of $19.82. The company has a market cap of $1.85 billion, a P/E ratio of -90.18 and a beta of 1.97. The company's fifty day simple moving average is $16.03 and its two-hundred day simple moving average is $16.30.

Sonos (NASDAQ:SONO - Get Free Report) last announced its earnings results on Tuesday, February 3rd. The company reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.08. Sonos had a negative net margin of 1.22% and a positive return on equity of 0.82%. The firm had revenue of $545.66 million for the quarter, compared to analyst estimates of $536.93 million. During the same quarter in the previous year, the firm posted $0.64 EPS. The company's revenue for the quarter was down .9% compared to the same quarter last year. Analysts predict that Sonos, Inc. will post -0.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SONO has been the topic of several analyst reports. Wall Street Zen raised shares of Sonos from a "hold" rating to a "buy" rating in a research note on Saturday, February 7th. Zacks Research raised shares of Sonos from a "hold" rating to a "strong-buy" rating in a report on Monday, February 9th. Weiss Ratings restated a "sell (d-)" rating on shares of Sonos in a research report on Thursday, January 22nd. Morgan Stanley set a $18.00 price objective on shares of Sonos in a research note on Wednesday, February 4th. Finally, Jefferies Financial Group raised their target price on Sonos from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Sonos has an average rating of "Moderate Buy" and a consensus target price of $20.00.

Insider Buying and Selling at Sonos

In other news, major shareholder Coliseum Capital Management, L bought 494,719 shares of the firm's stock in a transaction dated Wednesday, February 4th. The stock was purchased at an average price of $15.50 per share, with a total value of $7,668,144.50. Following the transaction, the insider owned 15,424,999 shares of the company's stock, valued at approximately $239,087,484.50. The trade was a 3.31% 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 the SEC website. In the last quarter, insiders purchased 1,991,562 shares of company stock worth $30,876,917. 1.25% of the stock is currently owned by corporate insiders.

About Sonos

Sonos, Inc is a consumer electronics company specializing in wireless home audio systems. The company's core business revolves around designing, developing and manufacturing smart speakers and soundbars that deliver high-fidelity audio and seamless multi-room listening experiences. Sonos products connect via Wi-Fi or Bluetooth and integrate with popular streaming services, enabling users to control music and other audio content through a dedicated mobile app, voice assistants or traditional controls.

Sonos offers a diversified product lineup that includes compact speakers such as Sonos One and Sonos Roam, premium models like Sonos Five and Sonos Move, home theater solutions including Sonos Beam and Sonos Arc, as well as accessories such as the Sonos Sub and Sonos Amp.

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