EntryPoint Capital LLC Purchases Shares of 36,701 Sonos, Inc. (NASDAQ:SONO)

EntryPoint Capital LLC acquired a new position in shares of Sonos, Inc. (NASDAQ:SONO - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 36,701 shares of the company's stock, valued at approximately $552,000.

Several other hedge funds have also modified their holdings of SONO. Mountain Hill Investment Partners Corp. acquired a new position in shares of Sonos in the 4th quarter valued at $31,000. KLP Kapitalforvaltning AS purchased a new position in shares of Sonos in the 4th quarter worth $403,000. AXQ Capital LP acquired a new position in Sonos in the fourth quarter valued at $260,000. American Century Companies Inc. grew its position in Sonos by 22.5% during the fourth quarter. American Century Companies Inc. now owns 388,743 shares of the company's stock valued at $5,847,000 after acquiring an additional 71,448 shares during the period. Finally, Blueshift Asset Management LLC purchased a new stake in Sonos during the fourth quarter valued at about $180,000. 85.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Sonos in a research note on Friday, February 7th.

Sonos Trading Down 3.8 %

NASDAQ SONO traded down $0.43 during trading hours on Friday, reaching $10.78. 1,184,462 shares of the company traded hands, compared to its average volume of 1,850,485. The stock has a market capitalization of $1.28 billion, a PE ratio of -18.91 and a beta of 1.98. Sonos, Inc. has a 12 month low of $10.23 and a 12 month high of $19.33. The company has a 50 day moving average of $12.90 and a two-hundred day moving average of $13.25.

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Sonos (NASDAQ:SONO - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.04. Sonos had a negative return on equity of 13.17% and a negative net margin of 4.73%. On average, equities research analysts anticipate that Sonos, Inc. will post -0.37 earnings per share for the current year.

Sonos declared that its Board of Directors has initiated a share buyback program on Monday, February 24th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to buy up to 10.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

Sonos Company 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.