Somnigroup International Inc. $SGI Position Reduced by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC cut its Somnigroup International stake by 86.8% in the second quarter, selling 305,258 shares and retaining 46,475 shares worth approximately $3.6 million. Institutional investors collectively own 99.86% of SGI.
• Analysts remain broadly positive, with seven Buy ratings and three Holds; the average price target is $96.12, while Piper Sandler and UBS raised their targets to $100 and $102, respectively.
• CEO Scott Thompson purchased 30,000 shares at $62.84 each, while the company reported quarterly EPS of $0.58 on $1.82 billion in revenue and pays a $0.17 quarterly dividend, yielding about 1.0% annually.

Squarepoint Ops LLC trimmed its position in Somnigroup International Inc. (NYSE:SGI - Free Report) by 86.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,475 shares of the company's stock after selling 305,258 shares during the period. Squarepoint Ops LLC's holdings in Somnigroup International were worth $3,644,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Governors Lane LP acquired a new position in shares of Somnigroup International during the 2nd quarter valued at $11,829,000. Arizona State Retirement System lifted its holdings in shares of Somnigroup International by 0.7% in the second quarter. Arizona State Retirement System now owns 55,137 shares of the company's stock valued at $4,323,000 after buying an additional 363 shares during the period. Nykredit A S bought a new position in Somnigroup International during the second quarter valued at about $598,000. Corient Private Wealth LP boosted its stake in Somnigroup International by 6.9% during the second quarter. Corient Private Wealth LP now owns 6,600 shares of the company's stock valued at $517,000 after buying an additional 427 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Somnigroup International during the second quarter worth about $1,721,000. 99.86% of the stock is owned by institutional investors.

Insider Buying and Selling at Somnigroup International

In related news, CEO Scott Thompson acquired 30,000 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The shares were acquired at an average cost of $62.84 per share, with a total value of $1,885,200.00. Following the purchase, the chief executive officer owned 4,123,634 shares of the company's stock, valued at approximately $259,129,160.56. The trade was a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.99% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on SGI. Piper Sandler reiterated an "overweight" rating and issued a $100.00 price target (up from $95.00) on shares of Somnigroup International in a research report on Thursday, September 3rd. Morgan Stanley assumed coverage on shares of Somnigroup International in a report on Monday, July 27th. They issued an "overweight" rating and a $95.00 target price on the stock. Zelman & Associates assumed coverage on shares of Somnigroup International in a research note on Tuesday, June 23rd. They set an "outperform" rating and a $99.00 target price for the company. UBS Group raised their target price on shares of Somnigroup International from $94.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, September 3rd. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Somnigroup International in a research report on Friday, August 21st. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Somnigroup International currently has an average rating of "Moderate Buy" and an average target price of $96.12.

Somnigroup International Stock Up 0.9%

SGI stock opened at $66.71 on Friday. The firm has a market cap of $14.03 billion, a PE ratio of 26.68, a PEG ratio of 1.09 and a beta of 1.19. Somnigroup International Inc. has a 1 year low of $60.39 and a 1 year high of $98.56. The company has a fifty day simple moving average of $68.36 and a 200 day simple moving average of $72.82. The company has a current ratio of 0.75, a quick ratio of 0.37 and a debt-to-equity ratio of 1.33.

Somnigroup International (NYSE:SGI - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. Somnigroup International had a net margin of 7.00% and a return on equity of 19.32%. The firm had revenue of $1.82 billion for the quarter. During the same period in the previous year, the company earned $0.53 earnings per share. The company's quarterly revenue was down 3.0% compared to the same quarter last year. Somnigroup International has set its FY 2026 guidance at 2.850-3.150 EPS. Sell-side analysts anticipate that Somnigroup International Inc. will post 3.11 EPS for the current fiscal year.

Somnigroup International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. Somnigroup International's dividend payout ratio is currently 27.20%.

Somnigroup International Profile

Somnigroup International Inc is a global sleep products company that designs, manufactures, distributes and sells mattresses, pillows, adjustable bases, foundations and other bedding products. The company serves consumers through a combination of wholesale, direct-to-consumer and retail channels, including company-operated and franchised retail locations.

Somnigroup's portfolio includes well-known brands such as Tempur-Pedic, Sealy, Stearns & Foster and Cocoon by Sealy. Following its combination with Mattress Firm, the company also operates one of the largest mattress specialty retail platforms in North America, offering products from its own brands as well as other manufacturers.

The company traces its roots to Tempur Sealy International, which was formed through the combination of Tempur-Pedic and Sealy.

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