Hodges Capital Management Inc. Buys 229,587 Shares of Sleep Number Co. (NASDAQ:SNBR)

Hodges Capital Management Inc. raised its stake in Sleep Number Co. (NASDAQ:SNBR) by 22.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,240,507 shares of the company’s stock after buying an additional 229,587 shares during the quarter. Sleep Number comprises approximately 1.1% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 25th biggest position. Hodges Capital Management Inc. owned about 0.06% of Sleep Number worth $18,905,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SNBR. Quarry LP bought a new position in Sleep Number in the second quarter valued at approximately $43,000. GAMMA Investing LLC boosted its holdings in shares of Sleep Number by 15.7% in the 3rd quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock valued at $106,000 after purchasing an additional 784 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Sleep Number in the 2nd quarter valued at $195,000. SG Americas Securities LLC acquired a new position in shares of Sleep Number during the 3rd quarter worth $210,000. Finally, PDT Partners LLC bought a new stake in shares of Sleep Number during the 3rd quarter worth $241,000. 85.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SNBR has been the subject of several research analyst reports. Piper Sandler lowered their target price on Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. StockNews.com upgraded shares of Sleep Number from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th.

Sleep Number Trading Down 0.6 %

Sleep Number stock opened at $17.88 on Monday. The stock has a 50-day moving average price of $16.80 and a two-hundred day moving average price of $15.12. Sleep Number Co. has a 12 month low of $8.13 and a 12 month high of $20.75.

Insider Activity at Sleep Number

In related news, major shareholder Stadium Capital Management Llc bought 22,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average cost of $13.86 per share, with a total value of $304,920.00. Following the transaction, the insider now directly owns 2,171,860 shares in the company, valued at approximately $30,101,979.60. This trade represents a 1.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 74,265 shares of company stock worth $1,016,420 in the last quarter. 6.80% of the stock is owned by insiders.

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.