Hodges Capital Management Inc. Grows Stock Holdings in Sleep Number Co. (NASDAQ:SNBR)

Hodges Capital Management Inc. grew its holdings in Sleep Number Co. (NASDAQ:SNBR) by 4.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,900 shares of the company’s stock after purchasing an additional 7,700 shares during the quarter. Hodges Capital Management Inc. owned about 0.77% of Sleep Number worth $2,755,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of Sleep Number by 250.6% during the 1st quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock valued at $68,000 after buying an additional 3,027 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Sleep Number during the 1st quarter valued at approximately $434,000. Invenomic Capital Management LP purchased a new stake in shares of Sleep Number during the 4th quarter valued at approximately $221,000. CastleKnight Management LP purchased a new stake in shares of Sleep Number during the 4th quarter valued at approximately $365,000. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Sleep Number during the 4th quarter valued at approximately $461,000. 85.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNBR has been the topic of several analyst reports. Piper Sandler lifted their price target on shares of Sleep Number from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. UBS Group lifted their target price on shares of Sleep Number from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, Wedbush reiterated a “neutral” rating and issued a $13.50 target price on shares of Sleep Number in a report on Thursday, April 25th.

Sleep Number Stock Performance

Sleep Number stock opened at $9.57 on Friday. Sleep Number Co. has a fifty-two week low of $9.00 and a fifty-two week high of $39.98. The firm has a 50 day moving average price of $13.64 and a 200 day moving average price of $13.56. The company has a market capitalization of $213.70 million, a PE ratio of -6.30 and a beta of 2.12.

Sleep Number (NASDAQ:SNBR) last posted its earnings results 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. The firm had revenue of $470.45 million during the quarter, compared to the consensus estimate of $475.17 million. Sleep Number had a negative net margin of 1.87% and a negative return on equity of 1.05%. As a group, equities research analysts forecast that Sleep Number Co. will post 0.09 earnings per share for the current year.

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.