Sleep Number (NASDAQ:SNBR) Given “Neutral” Rating at Wedbush

Wedbush restated their neutral rating on shares of Sleep Number (NASDAQ:SNBR) in a research report released on Wednesday morning, Benzinga reports. The firm currently has a $13.50 target price on the stock.

Sleep Number Stock Performance

Shares of SNBR stock opened at $13.61 on Wednesday. The firm’s 50 day moving average price is $14.11 and its 200-day moving average price is $14.05. Sleep Number has a one year low of $9.00 and a one year high of $39.98. The firm has a market cap of $303.91 million, a P/E ratio of -20.01 and a beta of 1.96.

Sleep Number (NASDAQ:SNBR) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.32. Sleep Number had a negative net margin of 0.81% and a negative return on equity of 1.05%. The firm had revenue of $429.52 million for the quarter, compared to analyst estimates of $415.70 million. As a group, research analysts predict that Sleep Number will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Sleep Number

A number of hedge funds have recently added to or reduced their stakes in SNBR. Stadium Capital Management LLC lifted its holdings in Sleep Number by 51.2% during the 3rd quarter. Stadium Capital Management LLC now owns 2,002,227 shares of the company’s stock worth $49,235,000 after buying an additional 678,001 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Sleep Number during the 1st quarter worth approximately $11,730,000. Partnership Wealth Management LLC acquired a new stake in Sleep Number during the 4th quarter worth approximately $3,836,000. Verition Fund Management LLC lifted its holdings in Sleep Number by 1,401.7% during the 4th quarter. Verition Fund Management LLC now owns 251,616 shares of the company’s stock worth $3,731,000 after buying an additional 234,861 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Sleep Number by 588.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 239,838 shares of the company’s stock worth $5,898,000 after buying an additional 205,015 shares in the last quarter. 85.67% of the stock is currently owned by institutional investors and hedge funds.

Sleep Number Company Profile

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.