Systematic Financial Management LP Raises Holdings in Sonos, Inc. (NASDAQ:SONO)

Systematic Financial Management LP increased its holdings in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 969,518 shares of the company's stock after acquiring an additional 59,164 shares during the period. Systematic Financial Management LP owned approximately 0.80% of Sonos worth $14,582,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SONO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Sonos by 1.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,501 shares of the company's stock worth $1,030,000 after buying an additional 1,033 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Sonos by 4.2% in the fourth quarter. SG Americas Securities LLC now owns 40,839 shares of the company's stock worth $614,000 after purchasing an additional 1,644 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Sonos by 191.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company's stock valued at $39,000 after purchasing an additional 1,721 shares during the period. Ironwood Investment Management LLC boosted its holdings in Sonos by 4.0% in the 4th quarter. Ironwood Investment Management LLC now owns 46,704 shares of the company's stock worth $702,000 after buying an additional 1,782 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in Sonos in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 85.82% of the company's stock.

Sonos Price Performance

NASDAQ SONO traded down $0.23 during trading hours on Friday, hitting $9.73. 322,921 shares of the company's stock traded hands, compared to its average volume of 1,963,949. Sonos, Inc. has a 52-week low of $7.63 and a 52-week high of $16.34. The company has a market capitalization of $1.17 billion, a PE ratio of -17.04 and a beta of 2.06. The firm's 50-day moving average is $9.72 and its 200-day moving average is $12.38.

Sonos declared that its board has initiated a share buyback plan on Monday, February 24th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other Sonos news, major shareholder Coliseum Capital Management, L purchased 62,506 shares of Sonos stock in a transaction dated Monday, April 7th. The shares were acquired at an average price of $8.38 per share, with a total value of $523,800.28. Following the completion of the transaction, the insider now owns 12,118,088 shares of the company's stock, valued at $101,549,577.44. This trade represents a 0.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SONO shares. Jefferies Financial Group decreased their price target on shares of Sonos from $19.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Rosenblatt Securities cut their price target on Sonos from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, May 8th.

Sonos Company Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.