Sonos, Inc. (NASDAQ:SONO) Stake Raised by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in Sonos, Inc. (NASDAQ:SONO) by 50.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,048 shares of the company’s stock after buying an additional 1,352 shares during the quarter. GAMMA Investing LLC’s holdings in Sonos were worth $61,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SONO. Gladius Capital Management LP bought a new position in Sonos during the third quarter valued at approximately $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sonos during the 2nd quarter valued at $46,000. Quest Partners LLC lifted its stake in shares of Sonos by 138.8% in the 2nd quarter. Quest Partners LLC now owns 4,850 shares of the company’s stock valued at $72,000 after purchasing an additional 2,819 shares during the last quarter. KBC Group NV increased its holdings in shares of Sonos by 52.5% during the 3rd quarter. KBC Group NV now owns 4,852 shares of the company’s stock valued at $60,000 after acquiring an additional 1,670 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Sonos by 927.0% during the third quarter. International Assets Investment Management LLC now owns 7,497 shares of the company’s stock valued at $92,000 after purchasing an additional 6,767 shares during the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley cut Sonos from an “overweight” rating to an “underweight” rating and cut their price objective for the stock from $25.00 to $11.00 in a research report on Thursday, September 26th.

Sonos Trading Down 1.6 %

Shares of NASDAQ SONO opened at $14.52 on Monday. The business has a fifty day simple moving average of $14.22 and a 200 day simple moving average of $13.22. Sonos, Inc. has a one year low of $10.23 and a one year high of $19.76. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -44.00 and a beta of 1.99.

Sonos (NASDAQ:SONO) last issued its earnings results on Wednesday, November 13th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.22). Sonos had a negative net margin of 2.51% and a negative return on equity of 4.97%. The firm had revenue of $255.38 million during the quarter, compared to analyst estimates of $247.92 million. During the same quarter in the prior year, the firm posted ($0.21) EPS. The firm’s revenue for the quarter was down 16.3% on a year-over-year basis. On average, research analysts anticipate that Sonos, Inc. will post -0.3 earnings per share for the current fiscal year.

Sonos Profile

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.