GAMMA Investing LLC Acquires 1,352 Shares of Sonos, Inc. (NASDAQ:SONO)

GAMMA Investing LLC increased its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 50.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,048 shares of the company’s stock after purchasing an additional 1,352 shares during the quarter. GAMMA Investing LLC’s holdings in Sonos were worth $61,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hohimer Wealth Management LLC bought a new position in Sonos in the 3rd quarter valued at $148,000. Barclays PLC boosted its stake in shares of Sonos by 120.3% in the 3rd quarter. Barclays PLC now owns 923,437 shares of the company’s stock valued at $11,350,000 after purchasing an additional 504,293 shares during the last quarter. Luxor Capital Group LP acquired a new stake in shares of Sonos during the 3rd quarter worth approximately $346,000. EP Wealth Advisors LLC bought a new stake in shares of Sonos during the third quarter worth approximately $251,000. Finally, Wellington Management Group LLP raised its stake in shares of Sonos by 23.4% during the third quarter. Wellington Management Group LLP now owns 3,303,017 shares of the company’s stock worth $40,594,000 after buying an additional 626,172 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Sonos Stock Down 1.6 %

Shares of NASDAQ SONO opened at $14.52 on Monday. Sonos, Inc. has a twelve month low of $10.23 and a twelve month high of $19.76. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -44.00 and a beta of 1.99. The company’s fifty day moving average is $14.22 and its 200-day moving average is $13.22.

Sonos (NASDAQ:SONO) last issued its quarterly earnings data on Wednesday, November 13th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.22). The company 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 company’s revenue was down 16.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) earnings per share. On average, research analysts anticipate that Sonos, Inc. will post -0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley cut shares of Sonos from an “overweight” rating to an “underweight” rating and reduced their price objective for the company from $25.00 to $11.00 in a research note on Thursday, September 26th.

Sonos Company Profile

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.