Stadium Capital Management Llc Acquires 59,011 Shares of Sleep Number Co. (NASDAQ:SNBR) Stock

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc purchased 59,011 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were acquired at an average price of $13.83 per share, for a total transaction of $816,122.13. Following the completion of the acquisition, the insider now directly owns 1,920,000 shares in the company, valued at approximately $26,553,600. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Stadium Capital Management Llc also recently made the following trade(s):

• On Monday, November 4th, Stadium Capital Management Llc purchased 36,097 shares of Sleep Number stock. The shares were acquired at an average price of $13.09 per share, for a total transaction of $472,509.73.

Sleep Number Price Performance

Shares of NASDAQ:SNBR traded up $0.39 during trading on Monday, reaching $13.10. 440,439 shares of the stock were exchanged, compared to its average volume of 513,203. Sleep Number Co. has a 1-year low of $8.13 and a 1-year high of $20.75. The stock has a fifty day moving average of $15.65 and a two-hundred day moving average of $13.62. The firm has a market cap of $292.79 million, a price-to-earnings ratio of -7.24 and a beta of 2.08.

Institutional Investors Weigh In On Sleep Number

A number of institutional investors and hedge funds have recently bought and sold shares of SNBR. Quarry LP purchased a new stake in Sleep Number in the 2nd quarter valued at $43,000. GAMMA Investing LLC raised its position in Sleep Number by 15.7% in the 3rd quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock valued at $106,000 after buying an additional 784 shares during the last quarter. XTX Topco Ltd purchased a new stake in Sleep Number in the 2nd quarter valued at $128,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Sleep Number during the 1st quarter valued at $149,000. Finally, Susquehanna Fundamental Investments LLC increased its position in shares of Sleep Number by 6.2% during the 2nd 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 last quarter. 85.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SNBR has been the topic of a number of research analyst reports. Piper Sandler cut their price target on Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday. StockNews.com raised Sleep Number from a “hold” rating to a “buy” rating in a research report on Friday.

About Sleep Number

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.