Y Intercept Hong Kong Ltd Takes Position in Sleep Number Co. (NASDAQ:SNBR)

Y Intercept Hong Kong Ltd bought a new position in Sleep Number Co. (NASDAQ:SNBR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,162 shares of the company’s stock, valued at approximately $296,000. Y Intercept Hong Kong Ltd owned approximately 0.07% of Sleep Number at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP acquired a new position in Sleep Number during the second quarter worth $43,000. GAMMA Investing LLC lifted its holdings in Sleep Number by 15.7% during the 3rd quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock valued at $106,000 after purchasing an additional 784 shares during the last quarter. XTX Topco Ltd acquired a new position in Sleep Number in the second quarter valued at about $128,000. Susquehanna Fundamental Investments LLC grew its position in Sleep Number by 6.2% during 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 last quarter. Finally, Maverick Capital Ltd. grew its holdings in shares of Sleep Number by 17.4% during the second quarter. Maverick Capital Ltd. now owns 20,136 shares of the company’s stock worth $193,000 after purchasing an additional 2,980 shares during the last quarter. Institutional investors own 85.67% of the company’s stock.

Sleep Number Price Performance

Sleep Number stock opened at $18.92 on Wednesday. Sleep Number Co. has a fifty-two week low of $8.13 and a fifty-two week high of $20.75. The firm has a market capitalization of $423.26 million, a price-to-earnings ratio of -10.24 and a beta of 2.08. The company’s 50 day simple moving average is $15.17 and its 200 day simple moving average is $13.89.

Insider Activity

In other Sleep Number news, major shareholder Stadium Capital Management Llc acquired 59,011 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were acquired at an average price of $13.83 per share, for a total transaction of $816,122.13. Following the acquisition, the insider now directly owns 1,920,000 shares of the company’s stock, valued at approximately $26,553,600. This trade represents a 3.17 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought 169,373 shares of company stock valued at $2,305,052 in the last quarter. Company insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SNBR. StockNews.com raised shares of Sleep Number from a “hold” rating to a “buy” rating in a report on Monday. Piper Sandler dropped their target price on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st.

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.