Sleep Number Sees Unusually Large Options Volume (SNBR)

Sleep Number Corp (NASDAQ:SNBR) was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 771 call options on the stock. This represents an increase of approximately 928% compared to the typical daily volume of 75 call options.

In other Sleep Number news, Director Michael A. Peel sold 3,000 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $33.80, for a total value of $101,400.00. Following the transaction, the director now directly owns 80,412 shares in the company, valued at $2,717,925.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark A. Kimball sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $32.69, for a total transaction of $261,520.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,560 shares of company stock worth $1,274,574. Insiders own 4.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in SNBR. Riverhead Capital Management LLC lifted its position in Sleep Number by 75.7% in the second quarter. Riverhead Capital Management LLC now owns 3,865 shares of the company’s stock valued at $137,000 after buying an additional 1,665 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Sleep Number by 395.9% during the second quarter. PNC Financial Services Group Inc. now owns 3,913 shares of the company’s stock worth $139,000 after purchasing an additional 3,124 shares in the last quarter. Flinton Capital Management LLC raised its holdings in Sleep Number by 75.6% in the second quarter. Flinton Capital Management LLC now owns 4,228 shares of the company’s stock valued at $150,000 after acquiring an additional 1,820 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Sleep Number by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,062 shares of the company’s stock valued at $180,000 after acquiring an additional 759 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in Sleep Number in the second quarter valued at approximately $206,000.

SNBR has been the subject of several research analyst reports. Zacks Investment Research raised shares of Sleep Number from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Friday, January 5th. Bank of America set a $33.00 price objective on shares of Sleep Number and gave the stock a “hold” rating in a research note on Wednesday, October 18th. KeyCorp restated a “hold” rating on shares of Sleep Number in a report on Friday, September 29th. Raymond James Financial upgraded shares of Sleep Number from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a report on Monday, October 2nd. Finally, Piper Jaffray Companies set a $38.00 price objective on shares of Sleep Number and gave the company a “buy” rating in a report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Sleep Number currently has an average rating of “Hold” and a consensus target price of $32.43.

Sleep Number (SNBR) opened at $38.03 on Friday. The firm has a market cap of $1,510.00, a price-to-earnings ratio of 26.97, a price-to-earnings-growth ratio of 1.02 and a beta of 0.60. Sleep Number has a 12-month low of $18.89 and a 12-month high of $39.95.

Sleep Number (NASDAQ:SNBR) last released its earnings results on Tuesday, October 17th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.06). Sleep Number had a return on equity of 51.12% and a net margin of 4.34%. The business had revenue of $402.64 million for the quarter, compared to analysts’ expectations of $413.89 million. During the same period in the previous year, the company earned $0.56 EPS. Sleep Number’s quarterly revenue was up 9.1% compared to the same quarter last year. research analysts forecast that Sleep Number will post 1.37 EPS for the current fiscal year.

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About Sleep Number

Sleep Number Corporation, formerly Select Comfort Corporation, is a designer, manufacturer, marketer, retailer and servicer of a line of Sleep Number beds. The Company offers consumers individualized sleep solutions and services, which include a complete line of Sleep Number beds, bases and bedding accessories.

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