Hodges Capital Management Inc. Grows Position in Sleep Number Co. (NASDAQ:SNBR)

Hodges Capital Management Inc. lifted its holdings in Sleep Number Co. (NASDAQ:SNBR - Free Report) by 146.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,010,920 shares of the company's stock after buying an additional 601,005 shares during the quarter. Sleep Number makes up about 1.2% of Hodges Capital Management Inc.'s portfolio, making the stock its 21st biggest position. Hodges Capital Management Inc. owned 4.52% of Sleep Number worth $18,520,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Stadium Capital Management LLC grew its stake in Sleep Number by 8.8% in the 3rd 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 in the last quarter. Van Lanschot Kempen Investment Management N.V. boosted its holdings in shares of Sleep Number by 7.7% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 968,810 shares of the company's stock valued at $9,272,000 after purchasing an additional 69,133 shares during the period. State Street Corp grew its stake in Sleep Number by 0.6% in the third quarter. State Street Corp now owns 440,547 shares of the company's stock worth $8,071,000 after purchasing an additional 2,472 shares in the last quarter. Millennium Management LLC grew its stake in Sleep Number by 326.7% in the second quarter. Millennium Management LLC now owns 370,987 shares of the company's stock worth $3,550,000 after purchasing an additional 284,052 shares in the last quarter. Finally, SW Investment Management LLC increased its holdings in Sleep Number by 16.7% during the 2nd quarter. SW Investment Management LLC now owns 350,000 shares of the company's stock worth $3,350,000 after purchasing an additional 50,000 shares during the period. 85.67% of the stock is owned by institutional investors.

Insider Activity

In other Sleep Number news, major shareholder Stadium Capital Management Llc acquired 36,097 shares of the firm's stock in a transaction dated Monday, November 4th. The stock was purchased at an average price of $13.09 per share, for a total transaction of $472,509.73. Following the acquisition, the insider now owns 2,054,802 shares in the company, valued at approximately $26,897,358.18. This trade represents a 1.79 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have bought 169,373 shares of company stock worth $2,305,052. Corporate insiders own 6.80% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SNBR. Piper Sandler dropped 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 cut shares of Sleep Number from a "buy" rating to a "hold" rating in a report on Friday.

Sleep Number Stock Performance

SNBR stock traded up $0.10 during trading on Friday, reaching $18.67. 500,849 shares of the company traded hands, compared to its average volume of 400,992. The company has a market capitalization of $417.67 million, a price-to-earnings ratio of -10.31 and a beta of 2.08. The business has a 50 day simple moving average of $14.87 and a 200 day simple moving average of $13.63. Sleep Number Co. has a 12 month low of $8.13 and a 12 month high of $20.75.

Sleep Number 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.