Sleep Number Co. (NASDAQ:SNBR) Short Interest Down 20.3% in September

Sleep Number Co. (NASDAQ:SNBR) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 2,740,000 shares, a decline of 20.3% from the September 15th total of 3,440,000 shares. Approximately 13.2% of the company’s shares are short sold. Based on an average daily trading volume, of 484,100 shares, the short-interest ratio is presently 5.7 days.

Sleep Number Price Performance

Shares of Sleep Number stock traded up $0.74 during trading on Tuesday, hitting $15.35. 288,385 shares of the company were exchanged, compared to its average volume of 514,402. The firm has a market capitalization of $342.70 million, a P/E ratio of -9.61 and a beta of 2.06. Sleep Number has a 1-year low of $8.13 and a 1-year high of $22.36. The firm’s fifty day moving average price is $15.19 and its 200 day moving average price is $13.57.

Sleep Number (NASDAQ:SNBR) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.22. The firm had revenue of $408.40 million for the quarter, compared to analyst estimates of $415.05 million. The company’s revenue was down 11.0% compared to the same quarter last year. During the same period last year, the company earned $0.03 EPS. As a group, equities research analysts anticipate that Sleep Number will post -0.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Sleep Number from $12.00 to $16.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. StockNews.com lowered Sleep Number from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.

Insider Activity

In other news, Director Stephen E. Macadam purchased 43,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average price of $12.35 per share, with a total value of $531,050.00. Following the purchase, the director now directly owns 102,729 shares of the company’s stock, valued at approximately $1,268,703.15. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Sleep Number

A number of institutional investors have recently bought and sold shares of SNBR. GAMMA Investing LLC lifted its stake in Sleep Number by 15.7% during the third quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock worth $106,000 after purchasing an additional 784 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Sleep Number by 5.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,122 shares of the company’s stock valued at $323,000 after acquiring an additional 1,052 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Sleep Number by 4.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 25,694 shares of the company’s stock valued at $246,000 after purchasing an additional 1,071 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its stake in shares of Sleep Number by 6.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock valued at $180,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Maverick Capital Ltd. raised its stake in Sleep Number by 17.4% during the 2nd quarter. Maverick Capital Ltd. now owns 20,136 shares of the company’s stock worth $193,000 after buying an additional 2,980 shares during the period. Institutional investors own 85.67% of the company’s stock.

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.