Stadium Capital Management Llc Purchases 25,325 Shares of Sleep Number Co. (NASDAQ:SNBR) Stock

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc acquired 25,325 shares of Sleep Number stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $14.90 per share, with a total value of $377,342.50. Following the completion of the purchase, the insider now directly owns 2,120,000 shares in the company, valued at $31,588,000. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal 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 Wednesday, November 13th, Stadium Capital Management Llc purchased 22,000 shares of Sleep Number stock. The stock was bought at an average price of $13.86 per share, with a total value of $304,920.00.
• On Wednesday, November 6th, Stadium Capital Management Llc bought 400 shares of Sleep Number stock. The stock was 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 purchased 36,097 shares of Sleep Number stock. The shares were bought at an average price of $13.09 per share, for a total transaction of $472,509.73.
• On Thursday, October 31st, Stadium Capital Management Llc acquired 59,011 shares of Sleep Number stock. The stock was purchased at an average price of $13.83 per share, with a total value of $816,122.13.

Sleep Number Stock Down 1.9 %

SNBR opened at $13.82 on Thursday. The business’s fifty day simple moving average is $15.60 and its 200 day simple moving average is $13.66. Sleep Number Co. has a 52 week low of $8.13 and a 52 week high of $20.75. The stock has a market cap of $309.17 million, a PE ratio of -7.64 and a beta of 2.08.

Hedge Funds Weigh In On Sleep Number

Several institutional investors have recently modified their holdings of the company. Quarry LP purchased a new stake in Sleep Number in the second quarter worth approximately $43,000. GAMMA Investing LLC boosted its stake 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 valued at $106,000 after purchasing an additional 784 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Sleep Number during the 2nd quarter valued at $128,000. State Board of Administration of Florida Retirement System purchased a new position in Sleep Number in the 1st quarter worth $149,000. Finally, Susquehanna Fundamental Investments LLC boosted its position in Sleep Number by 6.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock valued at $180,000 after buying an additional 1,100 shares during the period. 85.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SNBR shares. StockNews.com downgraded Sleep Number from a “buy” rating to a “hold” rating in a research report on Monday. Piper Sandler cut their price objective on Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 31st.

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.