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

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc purchased 25,325 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average cost of $14.90 per share, with a total value of $377,342.50. Following the transaction, the insider now directly owns 2,120,000 shares of the company’s stock, valued at $31,588,000. The trade was a 1.21 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 bought at an average cost 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 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 purchased 36,097 shares of Sleep Number stock. The shares were purchased 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 purchased at an average price of $13.83 per share, with a total value of $816,122.13.

Sleep Number Stock Performance

Shares of NASDAQ:SNBR opened at $12.34 on Friday. The business’s 50-day simple moving average is $15.59 and its 200 day simple moving average is $13.66. The company has a market cap of $276.05 million, a P/E ratio of -6.82 and a beta of 2.08. Sleep Number Co. has a one year low of $8.13 and a one year high of $20.75.

Institutional Trading of Sleep Number

Large investors have recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Sleep Number in the second quarter valued at $43,000. GAMMA Investing LLC lifted its holdings in 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 in the last quarter. XTX Topco Ltd purchased a new position in Sleep Number in the 2nd quarter valued at about $128,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Sleep Number during the first quarter valued at about $149,000. Finally, Susquehanna Fundamental Investments LLC increased its position in shares of Sleep Number by 6.2% during the second 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 last quarter. Institutional investors and hedge funds own 85.67% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SNBR. StockNews.com cut shares of Sleep Number from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Piper Sandler cut their target price on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st.

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.