Zacks Research Downgrades Somnigroup International (NYSE:SGI) to Hold

Somnigroup International (NYSE:SGI) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Somnigroup International in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Somnigroup International from a “hold” rating to a “buy” rating in a research note on Friday, November 28th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Somnigroup International Stock Down 1.9%

NYSE:SGI opened at $89.03 on Tuesday. Somnigroup International has a 12 month low of $53.10 and a 12 month high of $95.36. The company has a current ratio of 0.75, a quick ratio of 0.38 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $18.69 billion, a P/E ratio of 58.19, a P/E/G ratio of 1.42 and a beta of 1.32.

Somnigroup International (NYSE:SGI) last released its earnings results on Thursday, November 6th. The company reported $0.95 earnings per share (EPS) for the quarter. Somnigroup International had a return on equity of 22.73% and a net margin of 4.62%.The business had revenue of $2.12 billion during the quarter.

Insider Buying and Selling

In other news, Director Simon Dyer purchased 32,000 shares of Somnigroup International stock in a transaction dated Tuesday, December 2nd. The stock was purchased at an average cost of $93.40 per share, for a total transaction of $2,988,800.00. Following the transaction, the director directly owned 36,800 shares of the company’s stock, valued at approximately $3,437,120. This trade represents a 666.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Somnigroup International

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. bought a new stake in shares of Somnigroup International during the 3rd quarter valued at about $269,540,000. Hudson Bay Capital Management LP purchased a new stake in Somnigroup International in the third quarter valued at approximately $5,585,000. New Mexico Educational Retirement Board bought a new stake in Somnigroup International during the third quarter valued at approximately $3,578,000. Swiss Life Asset Management Ltd grew its stake in Somnigroup International by 85.1% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 9,065 shares of the company’s stock worth $764,000 after buying an additional 4,168 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Somnigroup International by 12.1% during the 4th quarter. GAMMA Investing LLC now owns 8,191 shares of the company’s stock valued at $731,000 after buying an additional 884 shares in the last quarter. 99.86% of the stock is currently owned by institutional investors.

About Somnigroup International

Somnigroup International Inc, together with its subsidiaries, designs, manufactures, distributes, and retails bedding products in the United States and internationally. It provides mattresses, foundations and adjustable foundations, and adjustable bases, as well as other products comprising pillows, mattress covers, sheets, cushions, and various other accessories and comfort products under the Tempur-Pedic, Sealy, Stearns & Foster, Sealy, and Cocoon by Sealy brand names. The company sells its products through approximately company-owned stores, online, and call centers; and third party retailers, including third party distribution, hospitality, and healthcare.