Russell Investments Group Ltd. Increases Stake in Sleep Number Co. (NASDAQ:SNBR)

Russell Investments Group Ltd. boosted its position in Sleep Number Co. (NASDAQ:SNBR) by 85.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 46,154 shares of the company’s stock after acquiring an additional 21,233 shares during the period. Russell Investments Group Ltd. owned 0.21% of Sleep Number worth $684,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Stadium Capital Management LLC raised its position in shares of Sleep Number by 51.2% in the third quarter. Stadium Capital Management LLC now owns 2,002,227 shares of the company’s stock valued at $49,235,000 after purchasing an additional 678,001 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Sleep Number by 588.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 239,838 shares of the company’s stock worth $5,898,000 after acquiring an additional 205,015 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sleep Number by 15.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 618,152 shares of the company’s stock worth $15,200,000 after acquiring an additional 84,449 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC grew its position in shares of Sleep Number by 105.5% in the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 117,397 shares of the company’s stock valued at $1,741,000 after purchasing an additional 60,280 shares in the last quarter. Finally, Repertoire Partners LP bought a new stake in shares of Sleep Number during the 3rd quarter valued at $1,451,000. 85.67% of the stock is owned by hedge funds and other institutional investors.

Sleep Number Stock Down 1.8 %

NASDAQ:SNBR opened at $15.51 on Tuesday. The stock has a market cap of $346.34 million, a P/E ratio of -10.20 and a beta of 2.04. The business’s 50-day moving average price is $14.32 and its two-hundred day moving average price is $13.38. Sleep Number Co. has a twelve month low of $9.00 and a twelve month high of $39.98.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.44. Sleep Number had a negative net margin of 1.87% and a negative return on equity of 1.05%. The firm had revenue of $470.45 million for the quarter, compared to analysts’ expectations of $475.17 million. On average, equities research analysts expect that Sleep Number Co. will post 0.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on SNBR shares. Piper Sandler raised their target price on Sleep Number from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Wedbush reaffirmed a “neutral” rating and set a $13.50 price objective on shares of Sleep Number in a research note on Thursday, April 25th. Finally, UBS Group upped their target price on shares of Sleep Number from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th.

Sleep Number Profile

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.