Fox Run Management L.L.C. Cuts Stock Holdings in Sonos, Inc. (NASDAQ:SONO)

Fox Run Management L.L.C. lowered its stake in shares of Sonos, Inc. (NASDAQ:SONO) by 78.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,204 shares of the company’s stock after selling 39,681 shares during the quarter. Fox Run Management L.L.C.’s holdings in Sonos were worth $169,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SONO. SBI Securities Co. Ltd. bought a new stake in shares of Sonos in the 4th quarter worth $30,000. Smartleaf Asset Management LLC boosted its holdings in Sonos by 191.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company’s stock worth $39,000 after purchasing an additional 1,721 shares during the last quarter. GAMMA Investing LLC grew its position in Sonos by 50.1% in the 4th quarter. GAMMA Investing LLC now owns 4,048 shares of the company’s stock worth $61,000 after purchasing an additional 1,352 shares in the last quarter. KBC Group NV increased its stake in Sonos by 52.6% in the 4th quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $111,000 after buying an additional 2,551 shares during the last quarter. Finally, Hohimer Wealth Management LLC bought a new position in shares of Sonos during the 3rd quarter worth approximately $148,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Rosenblatt Securities reaffirmed a “buy” rating and set a $18.00 price target on shares of Sonos in a research report on Friday, February 7th.

Sonos Stock Down 3.8 %

SONO opened at $10.78 on Friday. Sonos, Inc. has a twelve month low of $10.23 and a twelve month high of $19.33. The company’s 50-day moving average price is $12.90 and its two-hundred day moving average price is $13.24. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -18.91 and a beta of 1.98.

Sonos (NASDAQ:SONO) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Sonos had a negative net margin of 4.73% and a negative return on equity of 13.17%. As a group, sell-side analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current year.

Sonos declared that its board has authorized a stock repurchase program on Monday, February 24th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Sonos 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.