LMR Partners LLP Purchases New Shares in Sonos, Inc. (NASDAQ:SONO)

LMR Partners LLP acquired a new position in Sonos, Inc. (NASDAQ:SONO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 603,094 shares of the company’s stock, valued at approximately $7,412,000. LMR Partners LLP owned approximately 0.50% of Sonos as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SONO. Gladius Capital Management LP bought a new stake in Sonos in the third quarter worth $30,000. Covestor Ltd boosted its stake in shares of Sonos by 376.7% during the 1st quarter. Covestor Ltd now owns 1,988 shares of the company’s stock worth $38,000 after purchasing an additional 1,571 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Sonos during the 2nd quarter valued at about $46,000. KBC Group NV raised its position in Sonos by 52.5% in 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. Finally, Quest Partners LLC lifted its stake in Sonos by 138.8% in the second quarter. Quest Partners LLC now owns 4,850 shares of the company’s stock worth $72,000 after purchasing an additional 2,819 shares during the last quarter. 85.82% of the stock is currently owned by institutional investors.

Sonos Stock Down 3.2 %

Shares of NASDAQ:SONO opened at $12.63 on Tuesday. The firm’s 50 day simple moving average is $12.57 and its 200-day simple moving average is $13.71. Sonos, Inc. has a one year low of $10.23 and a one year high of $19.76.

Sonos (NASDAQ:SONO) last issued its earnings results on Wednesday, November 13th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.22). Sonos had a negative net margin of 2.51% and a negative return on equity of 4.97%. The firm had revenue of $255.38 million for the quarter, compared to the consensus estimate of $247.92 million. During the same period last year, the firm earned ($0.21) earnings per share. The company’s revenue for the quarter was down 16.3% on a year-over-year basis. As a group, equities analysts expect that Sonos, Inc. will post -0.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

SONO has been the topic of a number of analyst reports. Morgan Stanley cut Sonos from an “overweight” rating to an “underweight” rating and cut their target price for the company from $25.00 to $11.00 in a research note on Thursday, September 26th. Craig Hallum lowered Sonos from a “buy” rating to a “hold” rating and reduced their target price for the stock from $25.00 to $10.00 in a research note on Thursday, August 8th.

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.