Sleep Number Co. (NASDAQ:SNBR) Major Shareholder Stadium Capital Management Llc Acquires 15,000 Shares

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc purchased 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average cost of $12.12 per share, with a total value of $181,800.00. Following the completion of the acquisition, the insider now directly owns 2,215,000 shares of the company’s stock, valued at $26,845,800. This represents a 0.68 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% 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 Friday, November 15th, Stadium Capital Management Llc bought 11,540 shares of Sleep Number stock. The shares were acquired at an average price of $12.71 per share, for a total transaction of $146,673.40.
• On Wednesday, November 13th, Stadium Capital Management Llc purchased 22,000 shares of Sleep Number stock. The stock was acquired at an average price of $13.86 per share, for a total transaction of $304,920.00.
• On Monday, November 11th, Stadium Capital Management Llc bought 25,325 shares of Sleep Number stock. The stock was acquired at an average cost of $14.90 per share, with a total value of $377,342.50.
• On Wednesday, November 6th, Stadium Capital Management Llc purchased 400 shares of Sleep Number stock. The shares were bought 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 acquired 36,097 shares of Sleep Number stock. The shares were bought 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 bought 59,011 shares of Sleep Number stock. The stock was bought at an average cost of $13.83 per share, with a total value of $816,122.13.

Sleep Number Stock Performance

Shares of NASDAQ:SNBR opened at $11.77 on Wednesday. The business’s fifty day moving average price is $15.51 and its two-hundred day moving average price is $13.64. The stock has a market cap of $263.29 million, a PE ratio of -6.57 and a beta of 2.08. Sleep Number Co. has a one year low of $8.13 and a one year high of $20.75.

Analyst Ratings Changes

Several equities analysts recently weighed in on SNBR shares. Piper Sandler dropped their price objective on Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. StockNews.com upgraded Sleep Number from a “hold” rating to a “buy” rating in a research report on Tuesday.

Institutional Trading of Sleep Number

Large investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in Sleep Number in the 2nd quarter valued at about $43,000. GAMMA Investing LLC raised 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 valued at $106,000 after buying an additional 784 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Sleep Number during the second quarter valued at approximately $128,000. State Board of Administration of Florida Retirement System acquired a new stake in Sleep Number during the first quarter worth approximately $149,000. Finally, Susquehanna Fundamental Investments LLC grew its stake in Sleep Number by 6.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock worth $180,000 after acquiring an additional 1,100 shares during the period. Institutional investors and hedge funds own 85.67% of the company’s stock.

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.