Sleep Number Co. (NASDAQ:SNBR) Short Interest Down 20.3% in September

Sleep Number Co. (NASDAQ:SNBR) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 2,740,000 shares, a decline of 20.3% from the September 15th total of 3,440,000 shares. Based on an average trading volume of 484,100 shares, the days-to-cover ratio is presently 5.7 days. Currently, 13.2% of the shares of the company are sold short.

Insider Buying and Selling at Sleep Number

In related news, Director Stephen E. Macadam bought 43,000 shares of Sleep Number stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $12.35 per share, with a total value of $531,050.00. Following the acquisition, the director now directly owns 102,729 shares of the company’s stock, valued at $1,268,703.15. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Sleep Number

A number of large investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Sleep Number during the first quarter worth about $434,000. GAMMA Investing LLC grew its position in shares of Sleep Number by 250.6% in the 1st quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock worth $68,000 after buying an additional 3,027 shares during the last quarter. Hodges Capital Management Inc. increased its stake in shares of Sleep Number by 4.7% during the first quarter. Hodges Capital Management Inc. now owns 171,900 shares of the company’s stock valued at $2,755,000 after buying an additional 7,700 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Sleep Number by 39.4% during the first quarter. BNP Paribas Financial Markets now owns 48,439 shares of the company’s stock valued at $776,000 after acquiring an additional 13,683 shares in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC lifted its stake in Sleep Number by 42.8% in 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. Institutional investors own 85.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com cut shares of Sleep Number from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Piper Sandler raised their price target on Sleep Number from $12.00 to $16.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th.

Sleep Number Stock Down 1.1 %

Shares of SNBR traded down $0.16 during trading hours on Friday, hitting $14.63. The company had a trading volume of 283,372 shares, compared to its average volume of 516,861. Sleep Number has a 52-week low of $8.13 and a 52-week high of $22.36. The stock’s 50 day moving average price is $15.14 and its 200 day moving average price is $13.60. The firm has a market cap of $326.63 million, a P/E ratio of -9.63 and a beta of 2.06.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.22. The company had revenue of $408.40 million during the quarter, compared to the consensus estimate of $415.05 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. On average, research analysts expect that Sleep Number will post -0.13 EPS for the current fiscal year.

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.