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

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc purchased 25,325 shares of the stock in a transaction on Monday, November 11th. The shares were purchased at an average price of $14.90 per share, with a total value of $377,342.50. Following the acquisition, the insider now owns 2,120,000 shares in the company, valued at approximately $31,588,000. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 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, with a total value of $304,920.00.
• On Wednesday, November 6th, Stadium Capital Management Llc purchased 400 shares of Sleep Number stock. The shares were purchased at an average cost of $14.21 per share, for a total transaction of $5,684.00.
• On Monday, November 4th, Stadium Capital Management Llc acquired 36,097 shares of Sleep Number stock. The stock was acquired at an average cost 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 shares were acquired at an average cost of $13.83 per share, with a total value of $816,122.13.

Sleep Number Stock Down 1.9 %

NASDAQ SNBR opened at $13.82 on Thursday. Sleep Number Co. has a 52 week low of $8.13 and a 52 week high of $20.75. The business has a 50 day moving average price of $15.60 and a 200-day moving average price of $13.66. The company has a market cap of $309.17 million, a price-to-earnings ratio of -7.64 and a beta of 2.08.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new position in Sleep Number during the 2nd quarter valued at about $43,000. GAMMA Investing LLC increased its position in Sleep Number by 15.7% in the third 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. XTX Topco Ltd bought a new stake in shares of Sleep Number in the second quarter valued at $128,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Sleep Number during the 1st quarter valued at $149,000. Finally, Susquehanna Fundamental Investments LLC grew its stake 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 worth $180,000 after acquiring an additional 1,100 shares during the period. Institutional investors and hedge funds own 85.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SNBR shares. 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, October 31st. StockNews.com cut shares of Sleep Number from a “buy” rating to a “hold” rating in a report on Monday.

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.