Laurion Capital Management LP Buys New Position in Sonos Inc (SONO)

Laurion Capital Management LP bought a new stake in shares of Sonos Inc (NASDAQ:SONO) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 151,376 shares of the company’s stock, valued at approximately $2,428,000. Laurion Capital Management LP owned approximately 0.15% of Sonos at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new position in Sonos during the 3rd quarter valued at about $6,373,000. Hsbc Holdings PLC purchased a new position in Sonos during the 3rd quarter valued at about $966,000. Dean Capital Investments Management LLC purchased a new position in Sonos during the 3rd quarter valued at about $483,000. DekaBank Deutsche Girozentrale purchased a new position in Sonos during the 3rd quarter valued at about $3,025,000. Finally, FMR LLC purchased a new position in Sonos during the 3rd quarter valued at about $6,434,000. 34.17% of the stock is currently owned by institutional investors.

Several research firms have weighed in on SONO. Zacks Investment Research cut Sonos from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. Raymond James began coverage on Sonos in a research note on Monday, August 27th. They set an “outperform” rating and a $24.00 target price on the stock. Stifel Nicolaus began coverage on Sonos in a research note on Monday, August 27th. They set a “hold” rating and a $20.00 target price on the stock. Royal Bank of Canada began coverage on Sonos in a research note on Monday, August 27th. They set an “outperform” rating and a $25.00 target price on the stock. Finally, Goldman Sachs Group began coverage on Sonos in a research note on Monday, August 27th. They set a “buy” rating and a $25.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $21.71.

Shares of Sonos stock opened at $12.51 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. Sonos Inc has a 52-week low of $11.09 and a 52-week high of $23.60.

Sonos (NASDAQ:SONO) last announced its quarterly earnings results on Thursday, November 15th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.06. The firm had revenue of $272.94 million for the quarter, compared to analyst estimates of $248.87 million. As a group, sell-side analysts forecast that Sonos Inc will post 0.01 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this report on another website, it was illegally copied and reposted in violation of United States & international copyright and trademark law. The legal version of this report can be read at https://www.americanbankingnews.com/2018/12/08/laurion-capital-management-lp-buys-new-position-in-sonos-inc-sono.html.

Sonos Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the United States and internationally. It provides wireless speakers, home theater speakers, and components. The company offers its products through third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its sonos.com Website.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

Institutional Ownership by Quarter for Sonos (NASDAQ:SONO)

Receive News & Ratings for Sonos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonos and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply