Los Angeles Capital Management LLC Makes New Investment in Sleep Number Co. (NASDAQ:SNBR)

Los Angeles Capital Management LLC acquired a new position in Sleep Number Co. (NASDAQ:SNBR) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 27,092 shares of the company’s stock, valued at approximately $434,000. Los Angeles Capital Management LLC owned 0.12% of Sleep Number at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Stadium Capital Management LLC lifted its position in shares of Sleep Number by 51.2% in the 3rd quarter. Stadium Capital Management LLC now owns 2,002,227 shares of the company’s stock worth $49,235,000 after acquiring an additional 678,001 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Sleep Number by 29.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 802,190 shares of the company’s stock worth $11,896,000 after acquiring an additional 184,038 shares during the period. SW Investment Management LLC lifted its position in shares of Sleep Number by 6.3% during the 3rd quarter. SW Investment Management LLC now owns 584,672 shares of the company’s stock worth $14,377,000 after buying an additional 34,672 shares during the period. Partnership Wealth Management LLC bought a new position in shares of Sleep Number during the 4th quarter worth approximately $3,836,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Sleep Number by 588.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 239,838 shares of the company’s stock worth $5,898,000 after buying an additional 205,015 shares during the period. Institutional investors own 85.67% of the company’s stock.

Sleep Number Stock Performance

Shares of SNBR opened at $9.98 on Wednesday. The stock has a fifty day moving average price of $13.86 and a two-hundred day moving average price of $13.65. Sleep Number Co. has a 52-week low of $9.00 and a 52-week high of $39.98. The company has a market cap of $222.85 million, a price-to-earnings ratio of -6.57 and a beta of 2.12.

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

Wall Street Analyst Weigh In

Several research firms recently commented on SNBR. 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 report on Thursday, April 25th. UBS Group raised their target price on Sleep Number from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Wedbush restated a “neutral” rating and set a $13.50 target price on shares of Sleep Number in a research report on Thursday, April 25th.

Sleep Number Company 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.