Bridge City Capital LLC boosted its holdings in Sleep Number Corp (NASDAQ:SNBR) by 27.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 126,846 shares of the company’s stock after acquiring an additional 27,514 shares during the quarter. Sleep Number comprises about 2.3% of Bridge City Capital LLC’s investment portfolio, making the stock its 6th biggest holding. Bridge City Capital LLC’s holdings in Sleep Number were worth $5,241,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the business. Nuveen Asset Management LLC acquired a new stake in Sleep Number in the second quarter valued at $24,372,000. Canada Pension Plan Investment Board grew its holdings in Sleep Number by 1,345.7% in the second quarter. Canada Pension Plan Investment Board now owns 488,720 shares of the company’s stock valued at $19,739,000 after purchasing an additional 454,914 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Sleep Number in the second quarter valued at $6,999,000. APG Asset Management N.V. grew its holdings in Sleep Number by 110.2% in the second quarter. APG Asset Management N.V. now owns 222,000 shares of the company’s stock valued at $7,874,000 after purchasing an additional 116,400 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Sleep Number in the second quarter valued at $4,242,000.
Several research firms have weighed in on SNBR. Raymond James raised Sleep Number from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Wednesday, October 9th. Piper Jaffray Companies upped their target price on Sleep Number from $43.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. UBS Group upped their target price on Sleep Number from $27.00 to $29.00 and gave the company a “sell” rating in a report on Wednesday, October 16th. TheStreet raised Sleep Number from a “c+” rating to a “b-” rating in a report on Wednesday, October 16th. Finally, ValuEngine lowered Sleep Number from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $41.75.
Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.15. The business had revenue of $474.78 million for the quarter, compared to analyst estimates of $462.06 million. Sleep Number had a negative return on equity of 60.10% and a net margin of 5.08%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 earnings per share. On average, research analysts forecast that Sleep Number Corp will post 2.6 earnings per share for the current fiscal year.
In related news, insider Shelly Radue Ibach sold 40,000 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $48.87, for a total transaction of $1,954,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jean Michel Valette sold 25,000 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $51.50, for a total value of $1,287,500.00. The disclosure for this sale can be found here. 5.60% of the stock is owned by company insiders.
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, temperature-balancing products, beds for kids, sheets, and other bedding products under the Sleep Number name.
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