GAMMA Investing LLC Acquires 784 Shares of Sleep Number Co. (NASDAQ:SNBR)

GAMMA Investing LLC grew its holdings in shares of Sleep Number Co. (NASDAQ:SNBR) by 15.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,779 shares of the company’s stock after acquiring an additional 784 shares during the period. GAMMA Investing LLC’s holdings in Sleep Number were worth $106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Quarry LP purchased a new position in shares of Sleep Number during the 2nd quarter valued at about $43,000. State Board of Administration of Florida Retirement System bought a new position in shares of Sleep Number in the first quarter worth approximately $149,000. SG Americas Securities LLC purchased a new stake in shares of Sleep Number in the third quarter worth $210,000. XTX Topco Ltd bought a new stake in shares of Sleep Number during the 2nd quarter valued at $128,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Sleep Number during the 1st quarter valued at $260,000. Institutional investors own 85.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SNBR. StockNews.com lowered Sleep Number from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Piper Sandler increased their target price on Sleep Number from $12.00 to $16.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th.

Insider Activity at Sleep Number

In other Sleep Number news, Director Stephen E. Macadam purchased 43,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $12.35 per share, with a total value of $531,050.00. Following the completion of the purchase, the director now directly owns 102,729 shares in the company, valued at $1,268,703.15. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.80% of the stock is currently owned by insiders.

Sleep Number Stock Performance

SNBR opened at $14.63 on Monday. The stock has a market capitalization of $326.63 million, a price-to-earnings ratio of -9.63 and a beta of 2.06. The company has a fifty day moving average of $15.14 and a 200 day moving average of $13.60. Sleep Number Co. has a fifty-two week low of $8.13 and a fifty-two week high of $22.36.

Sleep Number (NASDAQ:SNBR) last issued its earnings results on Wednesday, July 31st. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.22. The firm had revenue of $408.40 million during the quarter, compared to the consensus estimate of $415.05 million. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share. On average, equities research analysts forecast that Sleep Number Co. will post -0.13 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.