Sleep Number Sees Unusually Large Options Volume (NASDAQ:SNBR)

Sleep Number Corp (NASDAQ:SNBR) saw unusually large options trading on Tuesday. Stock traders acquired 7,418 put options on the company. This represents an increase of approximately 2,324% compared to the average daily volume of 306 put options.

SNBR stock traded down $0.06 during midday trading on Wednesday, hitting $46.80. The company had a trading volume of 2,596,279 shares, compared to its average volume of 456,846. Sleep Number has a 52 week low of $30.44 and a 52 week high of $52.08. The stock’s 50 day moving average price is $42.06 and its 200 day moving average price is $40.99. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 1.58 and a beta of 1.14.

Sleep Number (NASDAQ:SNBR) last announced its earnings results on Tuesday, October 15th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.15. The company had revenue of $474.78 million during the quarter, compared to the consensus estimate of $462.06 million. Sleep Number had a negative return on equity of 66.17% and a net margin of 4.66%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 earnings per share. Equities research analysts predict that Sleep Number will post 2.56 EPS for the current year.

In other Sleep Number news, Director Jean Michel Valette sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $51.50, for a total value of $1,287,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shelly Radue Ibach sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $48.87, for a total value of $1,954,800.00. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new position in shares of Sleep Number during the third quarter valued at approximately $212,000. Pacer Advisors Inc. raised its holdings in shares of Sleep Number by 13.5% during the third quarter. Pacer Advisors Inc. now owns 10,554 shares of the company’s stock valued at $436,000 after acquiring an additional 1,259 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Sleep Number by 119.3% during the third quarter. State of Alaska Department of Revenue now owns 22,526 shares of the company’s stock valued at $930,000 after acquiring an additional 12,256 shares in the last quarter. Maverick Capital Ltd. raised its holdings in shares of Sleep Number by 47.5% during the second quarter. Maverick Capital Ltd. now owns 52,590 shares of the company’s stock valued at $2,124,000 after acquiring an additional 16,927 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Sleep Number by 692.5% during the second quarter. Royal Bank of Canada now owns 37,297 shares of the company’s stock valued at $1,505,000 after acquiring an additional 32,591 shares in the last quarter.

Several analysts have weighed in on SNBR shares. UBS Group boosted their price objective on Sleep Number from $27.00 to $29.00 and gave the company a “sell” rating in a research report on Wednesday. Piper Jaffray Companies boosted their price objective on Sleep Number from $43.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday. Wedbush boosted their price objective on Sleep Number from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday. BidaskClub upgraded Sleep Number from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, SunTrust Banks boosted their price objective on Sleep Number to $43.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $41.75.

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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