Systematic Financial Management LP Boosts Stock Position in Sonos, Inc. (NASDAQ:SONO)

Systematic Financial Management LP increased its holdings in Sonos, Inc. (NASDAQ:SONO) by 19.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 910,354 shares of the company’s stock after buying an additional 145,091 shares during the period. Systematic Financial Management LP owned 0.75% of Sonos worth $11,188,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Pacer Advisors Inc. raised its position in Sonos by 24.8% during the second quarter. Pacer Advisors Inc. now owns 3,519,368 shares of the company’s stock valued at $51,946,000 after purchasing an additional 699,975 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its stake in shares of Sonos by 67.9% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,655,942 shares of the company’s stock worth $20,352,000 after purchasing an additional 669,658 shares during the last quarter. LMR Partners LLP bought a new stake in Sonos during the 3rd quarter valued at approximately $7,412,000. Victory Capital Management Inc. boosted its position in Sonos by 21.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,842,770 shares of the company’s stock valued at $27,199,000 after acquiring an additional 331,293 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Sonos by 1,725.4% during the 2nd quarter. Renaissance Technologies LLC now owns 337,700 shares of the company’s stock valued at $4,984,000 after acquiring an additional 319,200 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Sonos Stock Down 3.0 %

Shares of NASDAQ SONO opened at $14.21 on Friday. Sonos, Inc. has a twelve month low of $10.23 and a twelve month high of $19.76. The firm has a market cap of $1.73 billion, a P/E ratio of -43.06 and a beta of 2.04. The company has a 50 day moving average of $13.00 and a 200 day moving average of $13.41.

Sonos (NASDAQ:SONO) last released its quarterly earnings results on Wednesday, November 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.22). The firm had revenue of $255.38 million during the quarter, compared to analysts’ expectations of $247.92 million. Sonos had a negative return on equity of 4.97% and a negative net margin of 2.51%. The business’s quarterly revenue was down 16.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.21) earnings per share. As a group, equities analysts expect that Sonos, Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Morgan Stanley lowered shares of Sonos from an “overweight” rating to an “underweight” rating and lowered their target price for the company from $25.00 to $11.00 in a report on Thursday, September 26th. Craig Hallum lowered shares of Sonos from a “buy” rating to a “hold” rating and lowered their target price for the company from $25.00 to $10.00 in a report on Thursday, August 8th.

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.