Royce & Associates LP Purchases New Position in Sonos, Inc. (NASDAQ:SONO)

Royce & Associates LP bought a new stake in Sonos, Inc. (NASDAQ:SONO - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 23,766 shares of the company's stock, valued at approximately $357,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in shares of Sonos in the fourth quarter valued at approximately $30,000. Smartleaf Asset Management LLC grew its stake in shares of Sonos by 191.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,621 shares of the company's stock worth $39,000 after acquiring an additional 1,721 shares in the last quarter. KBC Group NV increased its position in shares of Sonos by 52.5% during the third quarter. KBC Group NV now owns 4,852 shares of the company's stock worth $60,000 after acquiring an additional 1,670 shares during the period. GAMMA Investing LLC raised its stake in shares of Sonos by 50.1% in the fourth quarter. GAMMA Investing LLC now owns 4,048 shares of the company's stock valued at $61,000 after acquiring an additional 1,352 shares in the last quarter. Finally, Hohimer Wealth Management LLC acquired a new stake in shares of Sonos in the third quarter valued at $148,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities restated a "buy" rating and set a $18.00 price target on shares of Sonos in a report on Friday, February 7th.

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Sonos Stock Down 1.5 %

NASDAQ SONO traded down $0.17 on Wednesday, hitting $11.45. 971,310 shares of the stock were exchanged, compared to its average volume of 1,796,302. Sonos, Inc. has a fifty-two week low of $10.23 and a fifty-two week high of $19.45. The company has a 50-day moving average price of $13.07 and a 200-day moving average price of $13.27. The company has a market cap of $1.36 billion, a PE ratio of -20.09 and a beta of 1.98.

Sonos (NASDAQ:SONO - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. Sonos had a negative return on equity of 13.17% and a negative net margin of 4.73%. As a group, equities research analysts predict that Sonos, Inc. will post -0.37 EPS for the current fiscal year.

Sonos declared that its Board of Directors has initiated a share buyback plan on Monday, February 24th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

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.