Stadium Capital Management Llc Buys 22,000 Shares of Sleep Number Co. (NASDAQ:SNBR) Stock

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc bought 22,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average cost of $13.86 per share, for a total transaction of $304,920.00. Following the transaction, the insider now owns 2,171,860 shares of the company’s stock, valued at $30,101,979.60. The trade was a 1.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Stadium Capital Management Llc also recently made the following trade(s):

• On Monday, November 11th, Stadium Capital Management Llc acquired 25,325 shares of Sleep Number stock. The shares were bought 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 bought 400 shares of Sleep Number stock. The stock was purchased at an average price of $14.21 per share, with a total value of $5,684.00.
• On Monday, November 4th, Stadium Capital Management Llc purchased 36,097 shares of Sleep Number stock. The shares were purchased at an average price of $13.09 per share, for a total transaction of $472,509.73.
• On Thursday, October 31st, Stadium Capital Management Llc acquired 59,011 shares of Sleep Number stock. The stock was purchased at an average price of $13.83 per share, with a total value of $816,122.13.

Sleep Number Price Performance

NASDAQ SNBR opened at $13.65 on Friday. The stock has a market capitalization of $305.36 million, a PE ratio of -7.81 and a beta of 2.08. The business’s 50-day moving average is $15.60 and its 200 day moving average is $13.66. Sleep Number Co. has a 1 year low of $8.13 and a 1 year high of $20.75.

Analysts Set New Price Targets

A number of research firms have recently commented on SNBR. StockNews.com cut Sleep Number from a “buy” rating to a “hold” rating in a research note on Monday. 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 note on Thursday, October 31st.

Institutional Investors Weigh In On Sleep Number

A number of institutional investors have recently modified their holdings of SNBR. Quarry LP bought a new stake in shares of Sleep Number during the 2nd quarter valued at $43,000. GAMMA Investing LLC lifted its position 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 worth $106,000 after buying an additional 784 shares in the last quarter. XTX Topco Ltd bought a new position in Sleep Number during the second quarter valued at $128,000. State Board of Administration of Florida Retirement System bought a new stake in Sleep Number during the first quarter worth approximately $149,000. Finally, Susquehanna Fundamental Investments LLC increased its position in shares of Sleep Number by 6.2% during 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. 85.67% of the stock is owned by hedge funds and other institutional investors.

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.