Sherbrooke Park Advisers LLC Purchases New Position in Sleep Number Co. (NASDAQ:SNBR)

Sherbrooke Park Advisers LLC acquired a new stake in Sleep Number Co. (NASDAQ:SNBR) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 22,234 shares of the company’s stock, valued at approximately $339,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Stadium Capital Management LLC increased its position in Sleep Number by 30.3% in the 4th quarter. Stadium Capital Management LLC now owns 2,616,459 shares of the company’s stock valued at $39,875,000 after acquiring an additional 608,092 shares in the last quarter. Vanguard Group Inc. increased its position in Sleep Number by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 1,254,866 shares of the company’s stock valued at $19,124,000 after acquiring an additional 9,232 shares in the last quarter. Hodges Capital Management Inc. increased its position in Sleep Number by 22.7% in the 4th quarter. Hodges Capital Management Inc. now owns 1,240,507 shares of the company’s stock valued at $18,905,000 after acquiring an additional 229,587 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. increased its position in Sleep Number by 2.9% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 997,302 shares of the company’s stock valued at $15,199,000 after acquiring an additional 28,492 shares in the last quarter. Finally, Brightlight Capital Management LP increased its position in Sleep Number by 12.3% in the 4th quarter. Brightlight Capital Management LP now owns 982,488 shares of the company’s stock valued at $14,973,000 after acquiring an additional 107,837 shares in the last quarter. Institutional investors and hedge funds own 85.67% of the company’s stock.

Sleep Number Price Performance

Shares of NASDAQ:SNBR opened at $9.27 on Monday. Sleep Number Co. has a one year low of $4.48 and a one year high of $20.75. The company has a 50 day moving average of $6.61 and a 200-day moving average of $12.45. The stock has a market cap of $210.06 million, a price-to-earnings ratio of -5.12 and a beta of 1.75.

Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.27). The company had revenue of $393.26 million for the quarter, compared to analysts’ expectations of $397.95 million. The business’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.33) EPS. Equities research analysts anticipate that Sleep Number Co. will post -0.42 earnings per share for the current year.

Insider Activity at Sleep Number

In related news, CEO Linda Findley purchased 61,020 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were purchased at an average price of $7.12 per share, with a total value of $434,462.40. Following the completion of the purchase, the chief executive officer now owns 604,106 shares in the company, valued at $4,301,234.72. This represents a 11.24% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Francis K. Lee purchased 7,200 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was bought at an average cost of $7.12 per share, for a total transaction of $51,264.00. Following the purchase, the chief financial officer now owns 92,970 shares of the company’s stock, valued at approximately $661,946.40. This represents a 8.39% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 80,220 shares of company stock worth $576,206. 6.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SNBR shares. Wedbush lowered their price objective on shares of Sleep Number from $18.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Piper Sandler lowered their price objective on shares of Sleep Number from $11.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. StockNews.com cut shares of Sleep Number from a “buy” rating to a “hold” rating in a research report on Thursday, May 1st. Finally, UBS Group set a $7.00 price target on shares of Sleep Number in a research report on Friday, April 25th.

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.