Royce & Associates LP Makes New $357,000 Investment in Sonos, Inc. (NASDAQ:SONO)

Royce & Associates LP purchased a new position in shares of Sonos, Inc. (NASDAQ:SONO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 23,766 shares of the company’s stock, valued at approximately $357,000.

A number of other institutional investors also recently bought and sold shares of SONO. SBI Securities Co. Ltd. acquired a new stake in shares of Sonos during the 4th quarter worth approximately $30,000. Smartleaf Asset Management LLC grew its stake in shares of Sonos by 191.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company’s stock worth $39,000 after purchasing an additional 1,721 shares during the period. KBC Group NV grew its stake in shares of Sonos by 52.5% during the 3rd quarter. KBC Group NV now owns 4,852 shares of the company’s stock worth $60,000 after purchasing an additional 1,670 shares during the period. GAMMA Investing LLC grew its stake in shares of Sonos by 50.1% during the 4th quarter. GAMMA Investing LLC now owns 4,048 shares of the company’s stock worth $61,000 after purchasing an additional 1,352 shares during the period. Finally, Hohimer Wealth Management LLC acquired a new stake in shares of Sonos during the 3rd quarter worth approximately $148,000. 85.82% of the stock is owned by hedge funds and other institutional investors.

Sonos Stock Performance

Sonos stock opened at $11.71 on Friday. The company’s fifty day moving average price is $13.17 and its 200 day moving average price is $13.25. Sonos, Inc. has a 1 year low of $10.23 and a 1 year high of $19.76. The stock has a market capitalization of $1.39 billion, a P/E ratio of -20.54 and a beta of 1.98.

Sonos (NASDAQ:SONO) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Sonos had a negative return on equity of 13.17% and a negative net margin of 4.73%. Sell-side analysts predict that Sonos, Inc. will post -0.37 EPS for the current year.

Sonos declared that its Board of Directors has authorized a share repurchase plan on Monday, February 24th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reissued a “buy” rating and issued a $18.00 price target on shares of Sonos in a research note on Friday, February 7th.

About Sonos

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.