NBC Securities Inc. Acquires 50,000 Shares of Sleep Number Co. (NASDAQ:SNBR)

NBC Securities Inc. grew its holdings in shares of Sleep Number Co. (NASDAQ:SNBR) by 5,000.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,000 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. NBC Securities Inc. owned approximately 0.23% of Sleep Number worth $934,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SNBR. Quarry LP purchased a new stake in Sleep Number during the second quarter worth about $43,000. GAMMA Investing LLC raised its holdings in shares of Sleep Number by 250.6% in the 1st quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock worth $68,000 after purchasing an additional 3,027 shares during the period. XTX Topco Ltd bought a new stake in shares of Sleep Number in the 2nd quarter worth approximately $128,000. State Board of Administration of Florida Retirement System purchased a new position in Sleep Number in the first quarter valued at approximately $149,000. Finally, Susquehanna Fundamental Investments LLC grew its holdings in Sleep Number by 6.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock valued at $180,000 after purchasing an additional 1,100 shares during the period. 85.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Sleep Number Stock Up 9.6 %

Shares of NASDAQ SNBR opened at $16.83 on Thursday. The business has a 50-day simple moving average of $15.37 and a two-hundred day simple moving average of $13.59. Sleep Number Co. has a 52 week low of $8.13 and a 52 week high of $22.36. The company has a market cap of $375.75 million, a P/E ratio of -11.07 and a beta of 2.06.

Sleep Number (NASDAQ:SNBR) last posted 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 analysts’ expectations of $415.05 million. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 earnings per share. Equities research analysts anticipate that Sleep Number Co. will post -0.13 EPS for the current year.

Insiders Place Their Bets

In other Sleep Number news, Director Stephen E. Macadam acquired 43,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $12.35 per share, with a total value of $531,050.00. Following the completion of the acquisition, the director now owns 102,729 shares of the company’s stock, valued at $1,268,703.15. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Sleep Number Company 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.