Maverick Capital Ltd. Reduces Stock Holdings in Sleep Number Corp (NASDAQ:SNBR)
Maverick Capital Ltd. reduced its position in shares of Sleep Number Corp (NASDAQ:SNBR) by 87.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,473 shares of the company’s stock after selling 46,117 shares during the quarter. Maverick Capital Ltd.’s holdings in Sleep Number were worth $267,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Bridge City Capital LLC lifted its stake in shares of Sleep Number by 0.5% in the 2nd quarter. Bridge City Capital LLC now owns 99,332 shares of the company’s stock worth $4,012,000 after purchasing an additional 483 shares during the period. Virginia Retirement Systems ET AL raised its position in Sleep Number by 51.0% in the second quarter. Virginia Retirement Systems ET AL now owns 7,700 shares of the company’s stock worth $311,000 after acquiring an additional 2,600 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Sleep Number by 16.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 17,186 shares of the company’s stock worth $694,000 after acquiring an additional 2,390 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Sleep Number during the 2nd quarter worth $3,419,000. Finally, Aperio Group LLC boosted its stake in shares of Sleep Number by 6.7% during the 2nd quarter. Aperio Group LLC now owns 12,654 shares of the company’s stock worth $511,000 after acquiring an additional 793 shares during the last quarter.
Several equities research analysts have recently commented on SNBR shares. Bank of America reduced their price objective on Sleep Number from $34.00 to $30.00 and set an “underperform” rating for the company in a research note on Monday, September 23rd. Piper Jaffray Companies lifted their target price on Sleep Number from $43.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. TheStreet raised Sleep Number from a “c+” rating to a “b-” rating in a report on Wednesday, October 16th. Wedbush upped their price target on Sleep Number from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Zacks Investment Research upgraded Sleep Number from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Friday, October 18th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Sleep Number currently has an average rating of “Hold” and an average price target of $41.75.
SNBR opened at $48.03 on Tuesday. The firm has a market cap of $1.37 billion, a P/E ratio of 25.02, a PEG ratio of 1.56 and a beta of 1.11. Sleep Number Corp has a 1-year low of $30.70 and a 1-year high of $52.15. The company has a 50 day simple moving average of $48.36 and a two-hundred day simple moving average of $42.69.
Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.15. Sleep Number had a net margin of 5.08% and a negative return on equity of 60.10%. The firm had revenue of $474.78 million during the quarter, compared to analysts’ expectations of $462.06 million. During the same period in the prior year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities research analysts expect that Sleep Number Corp will post 2.6 EPS for the current year.
Sleep Number Profile
Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. It designs, manufactures, markets, retails, and services beds, bases, and bedding accessories under the Sleep Number name. The company also offers adjustable bases under the FlextFit name; and pillows, temperature-balancing products, beds for kids, sheets, and other bedding products under the Sleep Number name.
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