EntryPoint Capital LLC Invests $552,000 in Sonos, Inc. (NASDAQ:SONO)

EntryPoint Capital LLC purchased a new stake in Sonos, Inc. (NASDAQ:SONO) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 36,701 shares of the company’s stock, valued at approximately $552,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SONO. Mountain Hill Investment Partners Corp. purchased a new position in Sonos during the fourth quarter valued at $31,000. KLP Kapitalforvaltning AS acquired a new position in shares of Sonos during the 4th quarter worth about $403,000. AXQ Capital LP purchased a new position in Sonos in the 4th quarter valued at about $260,000. American Century Companies Inc. boosted its holdings in Sonos by 22.5% in the 4th quarter. American Century Companies Inc. now owns 388,743 shares of the company’s stock worth $5,847,000 after buying an additional 71,448 shares during the last quarter. Finally, Blueshift Asset Management LLC purchased a new stake in Sonos during the 4th quarter worth approximately $180,000. Hedge funds and other institutional investors own 85.82% of the company’s stock.

Sonos Trading Up 2.6 %

SONO stock opened at $12.02 on Tuesday. The firm has a 50-day moving average of $13.13 and a two-hundred day moving average of $13.27. Sonos, Inc. has a 12 month low of $10.23 and a 12 month high of $19.45. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -21.09 and a beta of 1.98.

Sonos (NASDAQ:SONO) last issued its earnings results on Thursday, February 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts forecast that Sonos, Inc. will post -0.37 earnings per share for the current year.

Sonos declared that its Board of Directors has authorized a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

Sonos Company 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.