Stadium Capital Management Llc Acquires 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 stock was purchased at an average price of $12.71 per share, for a total transaction of $146,673.40. Following the completion of the acquisition, the insider now owns 2,200,000 shares in the company, valued at $27,962,000. This represents a 0.53 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Major 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 bought 15,000 shares of Sleep Number stock. The shares were acquired 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 purchased 22,000 shares of Sleep Number stock. The shares were bought at an average price of $13.86 per share, with a total value of $304,920.00.
• On Monday, November 11th, Stadium Capital Management Llc bought 25,325 shares of Sleep Number stock. The stock was bought at an average price of $14.90 per share, for a total transaction 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 price of $14.21 per share, with a total value of $5,684.00.
• On Monday, November 4th, Stadium Capital Management Llc acquired 36,097 shares of Sleep Number stock. The shares were purchased 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 purchased 59,011 shares of Sleep Number stock. The shares were purchased at an average cost of $13.83 per share, for a total transaction of $816,122.13.

Sleep Number Stock Performance

NASDAQ SNBR opened at $11.77 on Wednesday. The company has a market capitalization of $263.29 million, a PE ratio of -6.57 and a beta of 2.08. Sleep Number Co. has a 52-week low of $8.13 and a 52-week high of $20.75. The company has a 50-day simple moving average of $15.51 and a 200 day simple moving average of $13.64.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Piper Sandler decreased their price objective on shares of 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 report on Tuesday.

Institutional Investors Weigh In On Sleep Number

Hedge funds have recently modified their holdings of the stock. Barclays PLC increased its position in Sleep Number by 276.5% in the third quarter. Barclays PLC now owns 28,280 shares of the company’s stock worth $518,000 after buying an additional 20,769 shares during the last quarter. Geode Capital Management LLC increased its holdings in Sleep Number by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 518,045 shares of the company’s stock worth $9,493,000 after acquiring an additional 18,182 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Sleep Number in the 3rd quarter valued at about $296,000. Hodges Capital Management Inc. raised its stake in Sleep Number by 146.6% in the 3rd quarter. Hodges Capital Management Inc. now owns 1,010,920 shares of the company’s stock valued at $18,520,000 after acquiring an additional 601,005 shares during the period. Finally, Stadium Capital Management LLC lifted its holdings in Sleep Number by 8.8% during the third quarter. Stadium Capital Management LLC now owns 2,008,367 shares of the company’s stock valued at $36,793,000 after purchasing an additional 162,164 shares during the last quarter. 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.