Sleep Number Corporation $SNBR Shares Acquired by Brightlight Capital Management LP

Key Points

• Brightlight Capital Management LP increased its stake in Sleep Number Corporation by 13.2%, making it the fund's 7th largest position, now holding 1,111,700 shares valued at approximately $7 million.
• Despite recent institutional interest, analyst sentiment is cautious, with Wall Street Zen downgrading Sleep Number from a "buy" to a "hold" rating and setting a target price of $8.33.
• Sleep Number reported a loss of ($1.09) EPS for the last quarter, missing estimates and indicating a 19.7% decline in revenue year-over-year.

Brightlight Capital Management LP boosted its holdings in shares of Sleep Number Corporation (NASDAQ:SNBR - Free Report) by 13.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,111,700 shares of the company's stock after purchasing an additional 129,212 shares during the quarter. Sleep Number makes up approximately 4.8% of Brightlight Capital Management LP's holdings, making the stock its 7th largest holding. Brightlight Capital Management LP owned about 4.91% of Sleep Number worth $7,048,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SNBR. Wells Fargo & Company MN grew its position in shares of Sleep Number by 26.7% in the 4th quarter. Wells Fargo & Company MN now owns 13,063 shares of the company's stock worth $199,000 after acquiring an additional 2,756 shares in the last quarter. Barclays PLC grew its position in shares of Sleep Number by 16.0% in the 4th quarter. Barclays PLC now owns 32,811 shares of the company's stock worth $501,000 after acquiring an additional 4,531 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Sleep Number by 10.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 425,278 shares of the company's stock worth $6,482,000 after acquiring an additional 41,217 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Sleep Number by 6,582.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,551 shares of the company's stock worth $115,000 after acquiring an additional 7,438 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Sleep Number by 36.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,562 shares of the company's stock worth $497,000 after acquiring an additional 8,613 shares in the last quarter. Institutional investors and hedge funds own 85.67% of the company's stock.

Sleep Number Stock Down 4.7%

Shares of SNBR traded down $0.49 during mid-day trading on Tuesday, hitting $10.04. The stock had a trading volume of 304,409 shares, compared to its average volume of 649,299. The company has a market cap of $228.61 million, a PE ratio of -5.52 and a beta of 1.77. The company's fifty day simple moving average is $8.59 and its two-hundred day simple moving average is $8.50. Sleep Number Corporation has a fifty-two week low of $4.48 and a fifty-two week high of $20.75.

Sleep Number (NASDAQ:SNBR - Get Free Report) last issued its 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 firm had revenue of $327.93 million during the quarter, compared to the consensus estimate of $357.42 million. The company's quarterly revenue was down 19.7% on a year-over-year basis. During the same period last year, the firm posted ($0.22) EPS. Sleep Number has set its FY 2025 guidance at EPS. Equities analysts expect that Sleep Number Corporation will post -0.42 earnings per share for the current year.

Sleep Number 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.