Mutual of America Capital Management LLC Sells 2,000 Shares of Sonos, Inc. (NASDAQ:SONO)

Mutual of America Capital Management LLC cut its holdings in shares of Sonos, Inc. (NASDAQ:SONO) by 9.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,201 shares of the company’s stock after selling 2,000 shares during the period. Mutual of America Capital Management LLC’s holdings in Sonos were worth $224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Systematic Financial Management LP raised its holdings in shares of Sonos by 39.9% during the 2nd quarter. Systematic Financial Management LP now owns 765,263 shares of the company’s stock worth $11,295,000 after buying an additional 218,061 shares in the last quarter. SG Americas Securities LLC raised its stake in Sonos by 2,222.0% during the second quarter. SG Americas Securities LLC now owns 172,549 shares of the company’s stock worth $2,547,000 after acquiring an additional 165,118 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of Sonos in the second quarter worth about $600,000. Cornercap Investment Counsel Inc. bought a new position in shares of Sonos in the third quarter worth about $539,000. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in shares of Sonos by 893.5% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 103,325 shares of the company’s stock valued at $1,525,000 after purchasing an additional 92,925 shares in the last quarter. 85.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SONO has been the subject of a number of research analyst reports. Craig Hallum cut shares of Sonos from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $25.00 to $10.00 in a research report on Thursday, August 8th. Morgan Stanley downgraded shares of Sonos from an “overweight” rating to an “underweight” rating and lowered their price target for the stock from $25.00 to $11.00 in a report on Thursday, September 26th.

Sonos Trading Down 0.2 %

NASDAQ:SONO opened at $13.61 on Friday. The stock’s 50-day moving average is $12.86 and its 200-day moving average is $13.49. Sonos, Inc. has a 1-year low of $10.23 and a 1-year high of $19.76. The stock has a market cap of $1.66 billion, a P/E ratio of -41.24 and a beta of 2.04.

Sonos (NASDAQ:SONO) last posted its earnings results on Wednesday, November 13th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.22). The business had revenue of $255.38 million for the quarter, compared to the consensus estimate of $247.92 million. Sonos had a negative return on equity of 4.97% and a negative net margin of 2.51%. The company’s revenue was down 16.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.21) earnings per share. As a group, equities analysts forecast that Sonos, Inc. will post -0.3 EPS for the current year.

About Sonos

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.