Investors Buy Large Volume of Call Options on Sleep Number (SNBR)

Sleep Number (NASDAQ:SNBR) saw some unusual options trading activity on Wednesday. Stock traders acquired 6,198 call options on the company. This represents an increase of 10,230% compared to the typical volume of 60 call options.

In related news, EVP Andrew P. Carlin sold 5,765 shares of Sleep Number stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $36.87, for a total value of $212,555.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Mark A. Kimball sold 8,000 shares of Sleep Number stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $37.26, for a total transaction of $298,080.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,545 shares of company stock valued at $1,491,216. 4.30% of the stock is owned by company insiders.

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A number of hedge funds have recently added to or reduced their stakes in SNBR. Meadow Creek Investment Management LLC acquired a new position in Sleep Number in the fourth quarter valued at $109,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Sleep Number in the fourth quarter valued at $114,000. Meeder Asset Management Inc. acquired a new position in Sleep Number in the fourth quarter valued at $184,000. Elkfork Partners LLC acquired a new position in Sleep Number in the fourth quarter valued at $190,000. Finally, LS Investment Advisors LLC acquired a new position in Sleep Number in the fourth quarter valued at $201,000.

NASDAQ SNBR opened at $36.51 on Thursday. The firm has a market cap of $1,381.28, a price-to-earnings ratio of 24.50, a P/E/G ratio of 1.02 and a beta of 0.82. Sleep Number has a fifty-two week low of $24.98 and a fifty-two week high of $40.72.

Sleep Number (NASDAQ:SNBR) last posted its earnings results on Wednesday, April 18th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.04). Sleep Number had a return on equity of 61.21% and a net margin of 4.51%. The company had revenue of $389.00 million for the quarter, compared to the consensus estimate of $396.68 million. During the same period in the previous year, the firm posted $0.56 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. sell-side analysts expect that Sleep Number will post 1.88 EPS for the current year.

A number of research analysts recently issued reports on the stock. BidaskClub raised shares of Sleep Number from a “hold” rating to a “buy” rating in a research note on Thursday, February 15th. Raymond James cut shares of Sleep Number from an “outperform” rating to a “market perform” rating in a research note on Thursday. Zacks Investment Research cut shares of Sleep Number from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. ValuEngine raised shares of Sleep Number from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $47.00 price objective (up from $40.00) on shares of Sleep Number in a research note on Friday, February 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $34.00.

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About Sleep Number

Sleep Number Corporation, together with its subsidiaries, provides sleep solutions and services in the United States. It designs, manufactures, markets, retails, and services beds, bases, and bedding accessories under the Sleep Number name. The company also offers adjustable bases under the FlextFit name; and pillows and sheets, as well as other bedding products, including mattresses, box springs, and foundations under the Sleep Number name.

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