Stadium Capital Management Llc Purchases 25,325 Shares of Sleep Number Co. (NASDAQ:SNBR) Stock

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc acquired 25,325 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $14.90 per share, for a total transaction of $377,342.50. Following the transaction, the insider now owns 2,120,000 shares of the company’s stock, valued at $31,588,000. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, November 13th, Stadium Capital Management Llc purchased 22,000 shares of Sleep Number stock. The shares were purchased at an average cost of $13.86 per share, for a total transaction of $304,920.00.
• On Wednesday, November 6th, Stadium Capital Management Llc purchased 400 shares of Sleep Number stock. The shares were purchased at an average cost of $14.21 per share, for a total transaction 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 cost 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 bought at an average price of $13.83 per share, for a total transaction of $816,122.13.

Sleep Number Stock Performance

Shares of SNBR stock traded down $0.27 on Wednesday, hitting $13.82. The company’s stock had a trading volume of 355,917 shares, compared to its average volume of 511,641. The stock’s 50 day moving average is $15.60 and its 200-day moving average is $13.66. Sleep Number Co. has a fifty-two week low of $8.13 and a fifty-two week high of $20.75. The company has a market capitalization of $309.17 million, a PE ratio of -7.64 and a beta of 2.08.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com downgraded shares of Sleep Number from a “buy” rating to a “hold” rating in a report on Monday. Piper Sandler decreased their price objective on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st.

Hedge Funds Weigh In On Sleep Number

Several institutional investors and hedge funds have recently modified their holdings of SNBR. BNP Paribas Financial Markets lifted its position in Sleep Number by 32.3% during the third quarter. BNP Paribas Financial Markets now owns 90,170 shares of the company’s stock worth $1,652,000 after purchasing an additional 22,022 shares during the period. FMR LLC lifted its position in Sleep Number by 1,764.3% during the third quarter. FMR LLC now owns 21,216 shares of the company’s stock worth $389,000 after purchasing an additional 20,078 shares during the period. Rice Hall James & Associates LLC lifted its position in Sleep Number by 3.9% during the third quarter. Rice Hall James & Associates LLC now owns 187,469 shares of the company’s stock worth $3,434,000 after purchasing an additional 7,080 shares during the period. Tectonic Advisors LLC lifted its position in Sleep Number by 77.6% during the third quarter. Tectonic Advisors LLC now owns 76,080 shares of the company’s stock worth $1,394,000 after purchasing an additional 33,250 shares during the period. Finally, NBC Securities Inc. lifted its position in Sleep Number by 5,000.0% during the third quarter. NBC Securities Inc. now owns 51,000 shares of the company’s stock worth $934,000 after purchasing an additional 50,000 shares during the period. 85.67% of the stock is currently owned by institutional investors and hedge funds.

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.