Stadium Capital Management Llc Buys 36,097 Shares of Sleep Number Co. (NASDAQ:SNBR) Stock

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc purchased 36,097 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $13.09 per share, with a total value of $472,509.73. Following the completion of the acquisition, the insider now directly owns 2,054,802 shares in the company, valued at $26,897,358.18. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Stadium Capital Management Llc also recently made the following trade(s):

• On Thursday, October 31st, Stadium Capital Management Llc bought 59,011 shares of Sleep Number stock. The stock was purchased at an average cost of $13.83 per share, for a total transaction of $816,122.13.

Sleep Number Stock Performance

SNBR stock traded up $0.39 during midday trading on Monday, reaching $13.10. 440,439 shares of the company were exchanged, compared to its average volume of 513,203. The company has a market cap of $292.79 million, a price-to-earnings ratio of -7.24 and a beta of 2.08. Sleep Number Co. has a 1-year low of $8.13 and a 1-year high of $20.75. The stock’s 50-day simple moving average is $15.65 and its 200 day simple moving average is $13.62.

Hedge Funds Weigh In On Sleep Number

Several hedge funds have recently added to or reduced their stakes in SNBR. BNP Paribas Financial Markets raised its holdings in shares of Sleep Number by 39.4% during the 1st quarter. BNP Paribas Financial Markets now owns 48,439 shares of the company’s stock valued at $776,000 after buying an additional 13,683 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC grew its holdings in Sleep Number by 42.8% during the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 167,678 shares of the company’s stock worth $2,688,000 after acquiring an additional 50,281 shares during the period. Tectonic Advisors LLC lifted its holdings in shares of Sleep Number by 26.5% during the first quarter. Tectonic Advisors LLC now owns 38,067 shares of the company’s stock valued at $610,000 after purchasing an additional 7,978 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Sleep Number in the 1st quarter worth about $284,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Sleep Number during the 1st quarter valued at about $149,000. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler dropped their price target on Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday. StockNews.com upgraded Sleep Number from a “hold” rating to a “buy” rating in a report on Friday.

About Sleep Number

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.