Sleep Number Co. (NASDAQ:SNBR) Major Shareholder Stadium Capital Management Llc Purchases 11,540 Shares

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc bought 11,540 shares of Sleep Number stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $12.71 per share, with a total value of $146,673.40. Following the completion of the acquisition, the insider now directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock 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 18th, Stadium Capital Management Llc purchased 15,000 shares of Sleep Number stock. The stock was purchased at an average price of $12.12 per share, with a total value of $181,800.00.
• On Wednesday, November 13th, Stadium Capital Management Llc acquired 22,000 shares of Sleep Number stock. The shares were purchased at an average price of $13.86 per share, for a total transaction of $304,920.00.
• On Monday, November 11th, Stadium Capital Management Llc purchased 25,325 shares of Sleep Number stock. The stock was acquired 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 stock was acquired at an average price of $14.21 per share, for a total transaction of $5,684.00.
• On Monday, November 4th, Stadium Capital Management Llc bought 36,097 shares of Sleep Number stock. The shares were 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 purchased 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 opened at $12.18 on Tuesday. The business’s 50 day simple moving average is $15.55 and its 200-day simple moving average is $13.65. Sleep Number Co. has a 1 year low of $8.13 and a 1 year high of $20.75. The stock has a market capitalization of $272.48 million, a price-to-earnings ratio of -6.73 and a beta of 2.08.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SNBR shares. StockNews.com raised shares of Sleep Number from a “hold” rating to a “buy” rating in a report on Tuesday. Piper Sandler dropped their price objective on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 31st.

Hedge Funds Weigh In On Sleep Number

Institutional investors have recently bought and sold shares of the business. 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 buying an additional 784 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Sleep Number by 5.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,122 shares of the company’s stock worth $323,000 after acquiring an additional 1,052 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in Sleep Number by 4.3% during the second quarter. SummerHaven Investment Management LLC now owns 25,694 shares of the company’s stock worth $246,000 after acquiring an additional 1,071 shares during the last quarter. Susquehanna Fundamental Investments LLC raised 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 purchasing an additional 1,100 shares during the period. Finally, State Street Corp lifted its stake in shares of Sleep Number by 0.6% in the 3rd quarter. State Street Corp now owns 440,547 shares of the company’s stock valued at $8,071,000 after purchasing an additional 2,472 shares during the last quarter. Institutional investors own 85.67% of the company’s stock.

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.