Stadium Capital Management LLC boosted its position in Sleep Number Co. (NASDAQ:SNBR - Free Report) by 30.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,616,459 shares of the company's stock after buying an additional 608,092 shares during the quarter. Sleep Number makes up about 33.8% of Stadium Capital Management LLC's holdings, making the stock its biggest position. Stadium Capital Management LLC owned about 11.70% of Sleep Number worth $39,875,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Wealthfront Advisers LLC acquired a new stake in Sleep Number in the 4th quarter worth $14,861,000. Hodges Capital Management Inc. increased its stake in Sleep Number by 22.7% during the fourth quarter. Hodges Capital Management Inc. now owns 1,240,507 shares of the company's stock valued at $18,905,000 after acquiring an additional 229,587 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Sleep Number by 18.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 385,599 shares of the company's stock valued at $5,877,000 after acquiring an additional 60,410 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Sleep Number in the 4th quarter worth approximately $183,000. Finally, Jump Financial LLC acquired a new stake in shares of Sleep Number during the 4th quarter worth approximately $830,000. Institutional investors own 85.67% of the company's stock.
Insider Transactions at Sleep Number
In other Sleep Number news, CFO Francis K. Lee purchased 7,200 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $7.12 per share, for a total transaction of $51,264.00. Following the completion of the purchase, the chief financial officer now owns 92,970 shares of the company's stock, valued at approximately $661,946.40. The trade was a 8.39% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Linda Findley bought 61,020 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were acquired at an average price of $7.12 per share, for a total transaction of $434,462.40. Following the transaction, the chief executive officer now owns 604,106 shares in the company, valued at approximately $4,301,234.72. This represents a 11.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 80,220 shares of company stock worth $576,206. Company insiders own 6.80% of the company's stock.
Sleep Number Trading Down 5.2%
Shares of Sleep Number stock traded down $0.51 during trading hours on Wednesday, reaching $9.21. 255,090 shares of the company's stock were exchanged, compared to its average volume of 522,579. The company has a 50 day moving average of $6.66 and a two-hundred day moving average of $12.42. Sleep Number Co. has a fifty-two week low of $4.48 and a fifty-two week high of $20.75. The stock has a market cap of $208.74 million, a P/E ratio of -5.10 and a beta of 1.75.
Sleep Number (NASDAQ:SNBR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.38) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.27). The business had revenue of $393.26 million for the quarter, compared to analysts' expectations of $397.95 million. Sleep Number's revenue was down 16.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.33) EPS. As a group, analysts expect that Sleep Number Co. will post -0.42 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have commented on SNBR. UBS Group set a $7.00 price target on shares of Sleep Number in a research note on Friday, April 25th. StockNews.com cut shares of Sleep Number from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Wedbush cut their price objective on shares of Sleep Number from $18.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, March 6th. Finally, Piper Sandler cut their target price on Sleep Number from $11.00 to $6.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th.
Check Out Our Latest Analysis on SNBR
Sleep Number Company Profile
(
Free Report)
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.
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