Summit Securities Group LLC Makes New Investment in Sleep Number Co. (NASDAQ:SNBR)

Summit Securities Group LLC acquired a new stake in Sleep Number Co. (NASDAQ:SNBR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,137 shares of the company’s stock, valued at approximately $33,000.

A number of other hedge funds have also made changes to their positions in SNBR. GAMMA Investing LLC lifted its position in Sleep Number by 28.8% in the fourth quarter. GAMMA Investing LLC now owns 7,443 shares of the company’s stock worth $113,000 after purchasing an additional 1,664 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Sleep Number in the fourth quarter valued at $183,000. PDT Partners LLC bought a new position in Sleep Number during the third quarter valued at about $241,000. Olympiad Research LP acquired a new position in Sleep Number during the fourth quarter worth about $221,000. Finally, Semanteon Capital Management LP bought a new stake in Sleep Number in the fourth quarter worth about $245,000. Institutional investors and hedge funds own 85.67% of the company’s stock.

Sleep Number Trading Down 4.3 %

Shares of SNBR opened at $6.44 on Monday. The business’s 50-day moving average price is $13.22 and its 200 day moving average price is $14.90. The stock has a market capitalization of $144.19 million, a P/E ratio of -3.56 and a beta of 2.14. Sleep Number Co. has a 1-year low of $6.00 and a 1-year high of $20.75.

Insiders Place Their Bets

In other news, insider Gary T. Fazio purchased 12,000 shares of Sleep Number stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $7.54 per share, for a total transaction of $90,480.00. Following the transaction, the insider now owns 71,125 shares in the company, valued at $536,282.50. The trade was a 20.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SNBR shares. Piper Sandler reduced their price objective on shares of Sleep Number from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. StockNews.com upgraded shares of Sleep Number from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Finally, Wedbush dropped their price target on Sleep Number from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th.

Sleep Number 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.