Sleep Number Co. (NASDAQ:SNBR) Major Shareholder Buys $146,673.40 in Stock

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc bought 11,540 shares of Sleep Number stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $12.71 per share, for a total transaction of $146,673.40. Following the completion of the acquisition, the insider now owns 2,200,000 shares in the company, valued at $27,962,000. This represents a 0.53 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, November 18th, Stadium Capital Management Llc bought 15,000 shares of Sleep Number stock. The shares were bought at an average cost of $12.12 per share, for a total transaction of $181,800.00.
• On Wednesday, November 13th, Stadium Capital Management Llc acquired 22,000 shares of Sleep Number stock. The stock was acquired at an average cost of $13.86 per share, for a total transaction of $304,920.00.
• On Monday, November 11th, Stadium Capital Management Llc acquired 25,325 shares of Sleep Number stock. The shares were bought at an average price of $14.90 per share, with a total value of $377,342.50.
• On Wednesday, November 6th, Stadium Capital Management Llc acquired 400 shares of Sleep Number stock. The shares were bought at an average price of $14.21 per share, with a total value of $5,684.00.
• On Monday, November 4th, Stadium Capital Management Llc bought 36,097 shares of Sleep Number stock. The stock was acquired at an average price of $13.09 per share, with a total value of $472,509.73.
• On Thursday, October 31st, Stadium Capital Management Llc bought 59,011 shares of Sleep Number stock. The stock was acquired at an average price of $13.83 per share, with a total value of $816,122.13.

Sleep Number Price Performance

Shares of SNBR traded down $0.16 during mid-day trading on Monday, hitting $12.18. The stock had a trading volume of 450,515 shares, compared to its average volume of 510,981. Sleep Number Co. has a 52 week low of $8.13 and a 52 week high of $20.75. The firm has a market cap of $272.48 million, a P/E ratio of -6.73 and a beta of 2.08. The business has a fifty day moving average price of $15.55 and a 200-day moving average price of $13.65.

Hedge Funds Weigh In On Sleep Number

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP purchased a new stake in Sleep Number in the 2nd quarter worth approximately $43,000. GAMMA Investing LLC increased its holdings in shares of Sleep Number by 15.7% in the 3rd quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock worth $106,000 after purchasing an additional 784 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Sleep Number in the 2nd quarter worth $128,000. State Board of Administration of Florida Retirement System purchased a new stake in Sleep Number in the 1st quarter worth $149,000. Finally, Susquehanna Fundamental Investments LLC boosted its holdings 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 currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SNBR. StockNews.com cut Sleep Number from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Piper Sandler cut their target price on Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st.

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.