Stadium Capital Management Llc Buys 11,540 Shares of Sleep Number Co. (NASDAQ:SNBR) Stock

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc bought 11,540 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $12.71 per share, with a total value of $146,673.40. Following the completion of the purchase, the insider now directly owns 2,200,000 shares of the company’s stock, valued at $27,962,000. This represents a 0.53 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% 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 Monday, November 18th, Stadium Capital Management Llc purchased 15,000 shares of Sleep Number stock. The shares were purchased at an average cost of $12.12 per share, with a total value of $181,800.00.
• On Wednesday, November 13th, Stadium Capital Management Llc acquired 22,000 shares of Sleep Number stock. The stock was purchased at an average cost 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 shares were purchased at an average price 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 stock was acquired at an average price 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 stock was acquired at an average cost of $13.09 per share, with a total value of $472,509.73.
• On Thursday, October 31st, Stadium Capital Management Llc bought 59,011 shares of Sleep Number stock. The shares were acquired at an average price of $13.83 per share, for a total transaction of $816,122.13.

Sleep Number Price Performance

Shares of NASDAQ SNBR opened at $11.67 on Thursday. The company has a market cap of $261.06 million, a P/E ratio of -6.50 and a beta of 2.08. The firm has a 50-day simple moving average of $15.46 and a two-hundred day simple moving average of $13.63. Sleep Number Co. has a 1 year low of $8.13 and a 1 year high of $20.75.

Analyst Upgrades and Downgrades

SNBR has been the topic of a number of recent research reports. StockNews.com upgraded Sleep Number from a “hold” rating to a “buy” rating in a research report on Tuesday. Piper Sandler decreased their price target on 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

Large investors have recently bought and sold shares of the business. Quarry LP purchased a new stake in Sleep Number in the second quarter worth $43,000. GAMMA Investing LLC increased its stake in Sleep Number by 15.7% in the 3rd quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock worth $106,000 after buying an additional 784 shares during the period. XTX Topco Ltd bought a new stake in Sleep Number during the 2nd quarter valued at about $128,000. State Board of Administration of Florida Retirement System purchased a new stake in Sleep Number in the 1st quarter valued at about $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 in the last quarter. Hedge funds and other institutional investors 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.