Rhumbline Advisers Boosts Stake in Sleep Number Co. (NASDAQ:SNBR)

Rhumbline Advisers boosted its holdings in Sleep Number Co. (NASDAQ:SNBR) by 9.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 37,659 shares of the company’s stock after buying an additional 3,350 shares during the period. Rhumbline Advisers owned 0.17% of Sleep Number worth $360,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC bought a new stake in Sleep Number in the fourth quarter worth about $62,000. GAMMA Investing LLC raised its stake in shares of Sleep Number by 250.6% during the first quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock valued at $68,000 after acquiring an additional 3,027 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Sleep Number during the first quarter valued at approximately $149,000. Invenomic Capital Management LP bought a new stake in shares of Sleep Number during the fourth quarter valued at approximately $221,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Sleep Number during the first quarter valued at approximately $260,000. Hedge funds and other institutional investors own 85.67% of the company’s stock.

Insider Activity at Sleep Number

In other news, Director Stephen E. Macadam purchased 43,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average price of $12.35 per share, with a total value of $531,050.00. Following the purchase, the director now directly owns 102,729 shares in the company, valued at approximately $1,268,703.15. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 6.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SNBR. StockNews.com downgraded shares of Sleep Number from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Piper Sandler boosted their price objective on shares of Sleep Number from $12.00 to $16.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th.

Sleep Number Trading Up 5.3 %

NASDAQ SNBR opened at $17.75 on Friday. The firm’s fifty day simple moving average is $13.91 and its two-hundred day simple moving average is $13.43. Sleep Number Co. has a 12-month low of $8.13 and a 12-month high of $25.05. The firm has a market capitalization of $396.29 million, a P/E ratio of -11.68 and a beta of 2.05.

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, beating analysts’ consensus estimates of ($0.44) by $0.22. The business had revenue of $408.40 million for the quarter, compared to analyst estimates of $415.05 million. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 earnings per share. As a group, sell-side analysts predict that Sleep Number Co. will post -0.13 earnings per share for the current fiscal year.

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.