Royce & Associates LP Invests $357,000 in Sonos, Inc. (NASDAQ:SONO)

Royce & Associates LP purchased a new position in shares of Sonos, Inc. (NASDAQ:SONO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 23,766 shares of the company’s stock, valued at approximately $357,000.

Several other institutional investors have also modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new stake in Sonos in the 4th quarter valued at about $30,000. Smartleaf Asset Management LLC raised its holdings in Sonos by 191.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company’s stock valued at $39,000 after buying an additional 1,721 shares during the period. KBC Group NV raised its holdings in Sonos by 52.5% in the 3rd quarter. KBC Group NV now owns 4,852 shares of the company’s stock valued at $60,000 after buying an additional 1,670 shares during the period. GAMMA Investing LLC raised its holdings in Sonos by 50.1% in the 4th quarter. GAMMA Investing LLC now owns 4,048 shares of the company’s stock valued at $61,000 after buying an additional 1,352 shares during the period. Finally, Hohimer Wealth Management LLC purchased a new stake in Sonos in the 3rd quarter valued at about $148,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Analyst Ratings Changes

Separately, Rosenblatt Securities restated a “buy” rating and issued a $18.00 price objective on shares of Sonos in a report on Friday, February 7th.

Sonos Price Performance

NASDAQ SONO opened at $11.71 on Friday. The company has a market cap of $1.39 billion, a P/E ratio of -20.54 and a beta of 1.98. The stock has a 50-day moving average of $13.17 and a two-hundred day moving average of $13.25. Sonos, Inc. has a 1-year low of $10.23 and a 1-year high of $19.76.

Sonos (NASDAQ:SONO) last released its earnings results on Thursday, February 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. Sonos had a negative return on equity of 13.17% and a negative net margin of 4.73%. On average, analysts anticipate that Sonos, Inc. will post -0.37 EPS for the current fiscal year.

Sonos declared that its board has authorized a stock repurchase plan on Monday, February 24th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Sonos Company Profile

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.