Highland Capital Management LLC Makes New $243,000 Investment in Sonos, Inc. (NASDAQ:SONO)

Highland Capital Management LLC bought a new stake in Sonos, Inc. (NASDAQ:SONO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,166 shares of the company’s stock, valued at approximately $243,000.

Other institutional investors also recently modified their holdings of the company. Barclays PLC boosted its stake in Sonos by 120.3% in the third quarter. Barclays PLC now owns 923,437 shares of the company’s stock valued at $11,350,000 after acquiring an additional 504,293 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Sonos by 7,557.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 156,049 shares of the company’s stock worth $2,347,000 after purchasing an additional 154,011 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Sonos by 42.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 877,758 shares of the company’s stock worth $10,788,000 after purchasing an additional 263,060 shares during the period. Crestwood Capital Management L.P. acquired a new stake in shares of Sonos during the third quarter worth $922,000. Finally, Cornercap Investment Counsel Inc. acquired a new position in Sonos in the third quarter valued at about $539,000. Institutional investors and hedge funds own 85.82% of the company’s stock.

Sonos Trading Down 1.7 %

Shares of SONO opened at $13.79 on Friday. The stock has a market cap of $1.66 billion, a P/E ratio of -41.79 and a beta of 1.99. The stock’s 50-day moving average price is $14.37 and its two-hundred day moving average price is $13.19. Sonos, Inc. has a 1 year low of $10.23 and a 1 year high of $19.76.

Sonos (NASDAQ:SONO) last issued its quarterly earnings data on Wednesday, November 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.22). The firm had revenue of $255.38 million for the quarter, compared to analyst estimates of $247.92 million. Sonos had a negative net margin of 2.51% and a negative return on equity of 4.97%. The firm’s revenue for the quarter was down 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.21) EPS. As a group, equities analysts forecast that Sonos, Inc. will post -0.3 EPS for the current year.

Sonos Company Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.