Stadium Capital Management Llc Purchases 15,000 Shares of Sleep Number Co. (NASDAQ:SNBR) Stock

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc acquired 15,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $12.12 per share, with a total value of $181,800.00. Following the purchase, the insider now directly owns 2,215,000 shares in the company, valued at approximately $26,845,800. This trade represents a 0.68 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more 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 Friday, November 15th, Stadium Capital Management Llc purchased 11,540 shares of Sleep Number stock. The shares were purchased at an average price of $12.71 per share, with a total value of $146,673.40.
• On Wednesday, November 13th, Stadium Capital Management Llc bought 22,000 shares of Sleep Number stock. The shares were purchased at an average price of $13.86 per share, with a total value of $304,920.00.
• On Monday, November 11th, Stadium Capital Management Llc purchased 25,325 shares of Sleep Number stock. The stock was acquired at an average price of $14.90 per share, for a total transaction of $377,342.50.
• On Wednesday, November 6th, Stadium Capital Management Llc acquired 400 shares of Sleep Number stock. The shares were 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 acquired at an average cost of $13.09 per share, for a total transaction of $472,509.73.
• On Thursday, October 31st, Stadium Capital Management Llc purchased 59,011 shares of Sleep Number stock. The stock was acquired at an average cost of $13.83 per share, with a total value of $816,122.13.

Sleep Number Trading Down 3.4 %

Shares of NASDAQ SNBR opened at $11.77 on Wednesday. The stock has a market cap of $263.29 million, a P/E ratio of -6.57 and a beta of 2.08. Sleep Number Co. has a twelve month low of $8.13 and a twelve month high of $20.75. The stock has a 50 day moving average of $15.51 and a two-hundred day moving average of $13.64.

Institutional Trading of Sleep Number

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of Sleep Number by 15.7% in the third quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock valued at $106,000 after buying an additional 784 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Sleep Number by 5.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,122 shares of the company’s stock valued at $323,000 after acquiring an additional 1,052 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in Sleep Number by 4.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 25,694 shares of the company’s stock worth $246,000 after acquiring an additional 1,071 shares during the period. Susquehanna Fundamental Investments LLC grew its stake in shares of Sleep Number by 6.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock valued at $180,000 after purchasing an additional 1,100 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Sleep Number by 0.6% in the third quarter. State Street Corp now owns 440,547 shares of the company’s stock valued at $8,071,000 after purchasing an additional 2,472 shares during the period. Institutional investors and hedge funds own 85.67% of the company’s stock.

Analysts Set New Price Targets

SNBR has been the subject of several recent analyst reports. Piper Sandler reduced their price objective on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. StockNews.com raised shares of Sleep Number from a “hold” rating to a “buy” rating in a research report on Tuesday.

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.