Stadium Capital Management Llc Purchases 36,097 Shares of Sleep Number Co. (NASDAQ:SNBR) Stock

Sleep Number Co. (NASDAQ:SNBR) major shareholder Stadium Capital Management Llc acquired 36,097 shares of Sleep Number stock in a transaction dated Monday, November 4th. The stock was purchased at an average price of $13.09 per share, with a total value of $472,509.73. Following the completion of the purchase, the insider now owns 2,054,802 shares of the company’s stock, valued at approximately $26,897,358.18. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Stadium Capital Management Llc also recently made the following trade(s):

• On Thursday, October 31st, Stadium Capital Management Llc purchased 59,011 shares of Sleep Number stock. The stock was acquired at an average price of $13.83 per share, for a total transaction of $816,122.13.

Sleep Number Trading Up 8.3 %

Sleep Number stock opened at $14.19 on Wednesday. The firm has a market cap of $317.22 million, a PE ratio of -7.84 and a beta of 2.08. Sleep Number Co. has a 12 month low of $8.13 and a 12 month high of $20.75. The stock’s 50 day simple moving average is $15.59 and its two-hundred day simple moving average is $13.62.

Analyst Upgrades and Downgrades

SNBR has been the topic of several recent research reports. Piper Sandler dropped their price objective on shares of Sleep Number from $16.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. StockNews.com upgraded shares of Sleep Number from a “hold” rating to a “buy” rating in a research report on Friday, November 1st.

Institutional Trading of Sleep Number

Hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Sleep Number in the second quarter valued at $43,000. GAMMA Investing LLC grew its position in shares of Sleep Number by 15.7% during the 3rd quarter. GAMMA Investing LLC now owns 5,779 shares of the company’s stock valued at $106,000 after acquiring an additional 784 shares during the period. XTX Topco Ltd purchased a new position in shares of Sleep Number in the 2nd quarter valued at about $128,000. State Board of Administration of Florida Retirement System acquired a new position in Sleep Number in the 1st quarter worth about $149,000. Finally, Susquehanna Fundamental Investments LLC boosted its position in Sleep Number by 6.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 18,791 shares of the company’s stock worth $180,000 after purchasing an additional 1,100 shares in the last quarter. 85.67% of the stock is owned by hedge funds and other institutional investors.

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.