GSA Capital Partners LLP Sells 24,659 Shares of Sonos, Inc. (NASDAQ:SONO)

GSA Capital Partners LLP lessened its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 52.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 22,420 shares of the company’s stock after selling 24,659 shares during the quarter. GSA Capital Partners LLP’s holdings in Sonos were worth $276,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the company. Systematic Financial Management LP grew its holdings in Sonos by 39.9% in the 2nd quarter. Systematic Financial Management LP now owns 765,263 shares of the company’s stock valued at $11,295,000 after buying an additional 218,061 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Sonos by 2,222.0% in the second quarter. SG Americas Securities LLC now owns 172,549 shares of the company’s stock valued at $2,547,000 after acquiring an additional 165,118 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Sonos in the 2nd quarter worth about $600,000. Vanguard Group Inc. raised its stake in Sonos by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 14,251,179 shares of the company’s stock worth $271,627,000 after purchasing an additional 163,736 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its holdings in Sonos by 893.5% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 103,325 shares of the company’s stock valued at $1,525,000 after purchasing an additional 92,925 shares during the period. Institutional investors own 85.82% of the company’s stock.

Sonos Stock Down 0.1 %

Shares of Sonos stock opened at $13.49 on Friday. Sonos, Inc. has a 12-month low of $10.23 and a 12-month high of $19.76. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -40.88 and a beta of 2.04. The firm’s 50-day moving average price is $12.74 and its two-hundred day moving average price is $13.58.

Sonos (NASDAQ:SONO) last posted its quarterly earnings results on Wednesday, November 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.22). The firm had revenue of $255.38 million for the quarter, compared to analyst estimates of $247.92 million. Sonos had a negative return on equity of 4.97% and a negative net margin of 2.51%. The business’s revenue was down 16.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.21) EPS. On average, sell-side analysts expect that Sonos, Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on SONO shares. Morgan Stanley cut shares of Sonos from an “overweight” rating to an “underweight” rating and lowered their target price for the stock from $25.00 to $11.00 in a report on Thursday, September 26th. Craig Hallum lowered Sonos from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $25.00 to $10.00 in a research note on Thursday, August 8th.

About Sonos

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.