Millennium Management LLC Raises Stake in Sleep Number Corp (SNBR)

Millennium Management LLC lifted its stake in shares of Sleep Number Corp (NASDAQ:SNBR) by 39.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,154 shares of the company’s stock after acquiring an additional 7,949 shares during the period. Millennium Management LLC owned approximately 0.08% of Sleep Number worth $817,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. NumerixS Investment Technologies Inc bought a new position in Sleep Number in the second quarter valued at $149,000. Itau Unibanco Holding S.A. bought a new position in Sleep Number in the second quarter valued at $155,000. Cubist Systematic Strategies LLC bought a new position in Sleep Number in the second quarter valued at $178,000. Riverhead Capital Management LLC grew its position in Sleep Number by 36.3% in the second quarter. Riverhead Capital Management LLC now owns 6,384 shares of the company’s stock valued at $185,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Tyers Asset Management LLC grew its position in Sleep Number by 37.6% in the second quarter. Tyers Asset Management LLC now owns 6,972 shares of the company’s stock valued at $202,000 after purchasing an additional 1,904 shares in the last quarter.

A number of research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Sleep Number from a “buy” rating to a “hold” rating in a research report on Wednesday, October 31st. ValuEngine raised shares of Sleep Number from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. TheStreet downgraded shares of Sleep Number from a “c” rating to a “d-” rating in a research report on Wednesday, October 24th. BidaskClub downgraded shares of Sleep Number from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. Finally, Stifel Nicolaus decreased their target price on shares of Sleep Number from $47.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $35.25.

Sleep Number stock opened at $39.29 on Wednesday. The firm has a market capitalization of $1.37 billion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 1.19 and a beta of 1.27. Sleep Number Corp has a 1-year low of $26.22 and a 1-year high of $40.72.

Sleep Number (NASDAQ:SNBR) last announced its quarterly earnings results on Wednesday, October 24th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.19). The firm had revenue of $438.78 million during the quarter, compared to analyst estimates of $410.90 million. Sleep Number had a net margin of 3.93% and a return on equity of 490.11%. On average, equities analysts forecast that Sleep Number Corp will post 1.77 EPS for the current year.

In other Sleep Number news, EVP Andrew P. Carlin sold 3,000 shares of the stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $38.86, for a total value of $116,580.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shelly Radue Ibach sold 10,000 shares of the stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $38.00, for a total transaction of $380,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,912 shares of company stock valued at $742,248. Corporate insiders own 4.30% of the company’s stock.

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Sleep Number Profile

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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Institutional Ownership by Quarter for Sleep Number (NASDAQ:SNBR)

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