Sleep Number (NASDAQ:SNBR) Stock Rating Reaffirmed by Wedbush

Wedbush reaffirmed their neutral rating on shares of Sleep Number (NASDAQ:SNBR - Free Report) in a research report sent to investors on Wednesday, Benzinga reports. Wedbush currently has a $13.50 price target on the stock.

Sleep Number Trading Up 2.4 %

Shares of NASDAQ:SNBR traded up $0.31 on Wednesday, reaching $13.18. 378,418 shares of the company traded hands, compared to its average volume of 575,676. The stock has a market capitalization of $294.31 million, a P/E ratio of -19.50 and a beta of 1.96. The business's 50-day simple moving average is $13.90 and its 200 day simple moving average is $14.18. Sleep Number has a 52 week low of $9.00 and a 52 week high of $39.98.

Sleep Number (NASDAQ:SNBR - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.58) earnings per share for the quarter, beating analysts' consensus estimates of ($0.90) by $0.32. The firm had revenue of $429.52 million during the quarter, compared to analyst estimates of $415.70 million. Sleep Number had a negative return on equity of 1.05% and a negative net margin of 0.81%. Sell-side analysts expect that Sleep Number will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Sleep Number

Several institutional investors and hedge funds have recently bought and sold shares of SNBR. Hodges Capital Management Inc. increased its stake in shares of Sleep Number by 4.7% during the first quarter. Hodges Capital Management Inc. now owns 171,900 shares of the company's stock valued at $2,755,000 after buying an additional 7,700 shares during the period. GAMMA Investing LLC increased its position in Sleep Number by 250.6% during the 1st quarter. GAMMA Investing LLC now owns 4,235 shares of the company's stock valued at $68,000 after purchasing an additional 3,027 shares during the period. Los Angeles Capital Management LLC bought a new position in Sleep Number in the 1st quarter worth $434,000. GSA Capital Partners LLP lifted its position in shares of Sleep Number by 61.3% in the 4th quarter. GSA Capital Partners LLP now owns 125,992 shares of the company's stock worth $1,868,000 after purchasing an additional 47,893 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Sleep Number by 334.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 30,921 shares of the company's stock valued at $459,000 after purchasing an additional 23,797 shares in the last quarter. Hedge funds and other institutional investors own 85.67% of the company's stock.

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.