Sleep Number Co. (NASDAQ:SNBR) Shares Bought by Hodges Capital Management Inc.

Hodges Capital Management Inc. raised its stake in shares of Sleep Number Co. (NASDAQ:SNBR - Free Report) by 22.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,240,507 shares of the company's stock after acquiring an additional 229,587 shares during the period. Sleep Number makes up 1.1% of Hodges Capital Management Inc.'s holdings, making the stock its 25th biggest holding. Hodges Capital Management Inc. owned approximately 5.55% of Sleep Number worth $18,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Millennium Management LLC increased its stake in Sleep Number by 326.7% during the 2nd quarter. Millennium Management LLC now owns 370,987 shares of the company's stock worth $3,550,000 after buying an additional 284,052 shares during the period. Stadium Capital Management LLC increased its position in shares of Sleep Number by 8.8% during the third quarter. Stadium Capital Management LLC now owns 2,008,367 shares of the company's stock worth $36,793,000 after acquiring an additional 162,164 shares during the period. JPMorgan Chase & Co. increased its position in shares of Sleep Number by 1,071.9% during the third quarter. JPMorgan Chase & Co. now owns 114,229 shares of the company's stock worth $2,093,000 after acquiring an additional 104,482 shares during the period. Squarepoint Ops LLC raised its stake in shares of Sleep Number by 240.1% in the second quarter. Squarepoint Ops LLC now owns 123,493 shares of the company's stock valued at $1,182,000 after acquiring an additional 87,184 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Sleep Number by 166.1% during the 2nd quarter. AQR Capital Management LLC now owns 107,905 shares of the company's stock worth $1,033,000 after purchasing an additional 67,354 shares in the last quarter. 85.67% of the stock is owned by hedge funds and other institutional investors.

Sleep Number Price Performance

Shares of NASDAQ SNBR traded down $1.04 during midday trading on Thursday, hitting $16.96. 273,957 shares of the company's stock were exchanged, compared to its average volume of 246,648. The firm's fifty day simple moving average is $16.97 and its 200-day simple moving average is $15.23. The company has a market cap of $379.40 million, a PE ratio of -9.37 and a beta of 2.08. Sleep Number Co. has a twelve month low of $8.13 and a twelve month high of $20.75.

Insiders Place Their Bets

In other news, major shareholder Stadium Capital Management Llc bought 25,325 shares of Sleep Number stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $14.90 per share, with a total value of $377,342.50. Following the acquisition, the insider now owns 2,120,000 shares of the company's stock, valued at approximately $31,588,000. This trade represents a 1.21 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have purchased 73,865 shares of company stock valued at $1,010,736. 6.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SNBR. Piper Sandler reduced their price target on Sleep Number from $16.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. StockNews.com upgraded shares of Sleep Number from a "hold" rating to a "buy" rating in a report on Thursday, January 9th.

Sleep Number Company 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.