AQR Capital Management LLC Raises Position in Sleep Number Co. (NASDAQ:SNBR)

AQR Capital Management LLC grew its holdings in shares of Sleep Number Co. (NASDAQ:SNBR) by 166.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,905 shares of the company’s stock after purchasing an additional 67,354 shares during the quarter. AQR Capital Management LLC owned approximately 0.48% of Sleep Number worth $1,033,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC grew its stake in Sleep Number by 250.6% during the 1st quarter. GAMMA Investing LLC now owns 4,235 shares of the company’s stock worth $68,000 after purchasing an additional 3,027 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Sleep Number during the second quarter worth about $128,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Sleep Number during the first quarter worth about $149,000. Renaissance Technologies LLC acquired a new stake in shares of Sleep Number during the second quarter worth $195,000. Finally, SummerHaven Investment Management LLC increased its stake in shares of Sleep Number by 4.3% during the second quarter. SummerHaven Investment Management LLC now owns 25,694 shares of the company’s stock worth $246,000 after acquiring an additional 1,071 shares during the period. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

Sleep Number Price Performance

Sleep Number stock opened at $14.63 on Friday. Sleep Number Co. has a 12 month low of $8.13 and a 12 month high of $22.36. The company has a market cap of $326.98 million, a price-to-earnings ratio of -8.27 and a beta of 2.06. The stock’s 50-day moving average is $15.09 and its 200-day moving average is $13.60.

Sleep Number (NASDAQ:SNBR) last posted its earnings results on Wednesday, July 31st. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.22. The firm had revenue of $408.40 million for the quarter, compared to analyst estimates of $415.05 million. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 earnings per share. Research analysts anticipate that Sleep Number Co. will post -0.13 EPS for the current year.

Insider Transactions at Sleep Number

In other Sleep Number news, Director Stephen E. Macadam acquired 43,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $12.35 per share, with a total value of $531,050.00. Following the completion of the acquisition, the director now directly owns 102,729 shares in the company, valued at $1,268,703.15. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Sleep Number from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Piper Sandler lifted their target price on shares of Sleep Number from $12.00 to $16.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th.

About Sleep Number

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.