Sleep Number Co. (NASDAQ:SNBR) Major Shareholder Stadium Capital Management Llc Buys 22,000 Shares

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc purchased 22,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average cost of $13.86 per share, with a total value of $304,920.00. Following the transaction, the insider now directly owns 2,171,860 shares in the company, valued at approximately $30,101,979.60. This trade represents a 1.02 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Major 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 11th, Stadium Capital Management Llc purchased 25,325 shares of Sleep Number stock. The stock was acquired at an average cost of $14.90 per share, with a total value of $377,342.50.
• On Wednesday, November 6th, Stadium Capital Management Llc purchased 400 shares of Sleep Number stock. The stock was acquired at an average cost of $14.21 per share, with a total value of $5,684.00.
• On Monday, November 4th, Stadium Capital Management Llc bought 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 cost of $13.83 per share, with a total value of $816,122.13.

Sleep Number Stock Performance

SNBR stock opened at $12.34 on Friday. The firm has a market cap of $276.05 million, a PE ratio of -6.82 and a beta of 2.08. The firm’s fifty day moving average is $15.59 and its 200 day moving average is $13.66. Sleep Number Co. has a one year low of $8.13 and a one year high of $20.75.

Analyst Upgrades and Downgrades

SNBR has been the topic of a number of recent analyst reports. Piper Sandler cut their price target 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. StockNews.com lowered shares of Sleep Number from a “buy” rating to a “hold” rating in a research note on Monday, November 11th.

Hedge Funds Weigh In On Sleep Number

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC lifted its holdings in Sleep Number by 135.3% during the second quarter. Acadian Asset Management LLC now owns 235,305 shares of the company’s stock valued at $2,249,000 after purchasing an additional 135,284 shares in the last quarter. Pacific Ridge Capital Partners LLC purchased a new position in Sleep Number during the second quarter valued at $3,342,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Sleep Number by 37.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,433 shares of the company’s stock valued at $490,000 after purchasing an additional 8,779 shares in the last quarter. NBC Securities Inc. lifted its holdings in Sleep Number by 5,000.0% during the third quarter. NBC Securities Inc. now owns 51,000 shares of the company’s stock valued at $934,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in shares of Sleep Number in the second quarter worth about $899,000. 85.67% of the stock is owned by hedge funds and other institutional investors.

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.