Pacific Ridge Capital Partners LLC Invests $3.34 Million in Sleep Number Co. (NASDAQ:SNBR)

Pacific Ridge Capital Partners LLC acquired a new position in Sleep Number Co. (NASDAQ:SNBR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 349,246 shares of the company’s stock, valued at approximately $3,342,000. Pacific Ridge Capital Partners LLC owned about 1.56% of Sleep Number as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its stake in shares of Sleep Number by 22.5% in the fourth quarter. BNP Paribas Financial Markets now owns 34,756 shares of the company’s stock worth $515,000 after purchasing an additional 6,390 shares during the last quarter. Quest Partners LLC purchased a new position in Sleep Number in the 4th quarter worth about $62,000. Boulder Hill Capital Management LP bought a new position in Sleep Number during the 4th quarter valued at about $758,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Sleep Number during the 4th quarter valued at about $611,000. Finally, Blueshift Asset Management LLC bought a new stake in shares of Sleep Number in the fourth quarter worth approximately $461,000. 85.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on SNBR shares. Piper Sandler increased their price objective on shares of Sleep Number from $12.00 to $16.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. StockNews.com downgraded Sleep Number from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.

Insiders Place Their Bets

In other Sleep Number news, Director Stephen E. Macadam purchased 43,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of $12.35 per share, with a total value of $531,050.00. Following the completion of the acquisition, the director now directly owns 102,729 shares in the company, valued at $1,268,703.15. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.80% of the company’s stock.

Sleep Number Trading Up 5.3 %

SNBR opened at $17.75 on Friday. Sleep Number Co. has a 12-month low of $8.13 and a 12-month high of $25.05. The company has a market cap of $396.29 million, a price-to-earnings ratio of -11.68 and a beta of 2.05. The company’s 50 day moving average is $13.91 and its 200 day moving average is $13.43.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.22. The company had revenue of $408.40 million during the quarter, compared to analysts’ expectations of $415.05 million. During the same quarter last year, the company earned $0.03 earnings per share. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. As a group, analysts predict that Sleep Number Co. will post -0.13 EPS for the current fiscal year.

About Sleep Number

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.