Glazer Capital LLC Buys New Shares in Somnigroup International Inc. $SGI

Glazer Capital LLC bought a new position in shares of Somnigroup International Inc. (NYSE:SGI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,550 shares of the company’s stock, valued at approximately $1,141,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SGI. BlackRock Inc. bought a new position in shares of Somnigroup International during the 2nd quarter worth about $1,507,604,000. Linonia Partnership LP acquired a new position in Somnigroup International during the 2nd quarter worth approximately $519,372,000. Geode Capital Management LLC raised its stake in Somnigroup International by 9.3% during the 4th quarter. Geode Capital Management LLC now owns 4,375,264 shares of the company’s stock worth $390,699,000 after buying an additional 371,234 shares during the period. JPMorgan Chase & Co. boosted its holdings in Somnigroup International by 7.3% in the fourth quarter. JPMorgan Chase & Co. now owns 3,429,208 shares of the company’s stock worth $306,160,000 after acquiring an additional 232,953 shares in the last quarter. Finally, Third Point LLC boosted its holdings in Somnigroup International by 13.3% in the fourth quarter. Third Point LLC now owns 3,400,000 shares of the company’s stock worth $303,552,000 after acquiring an additional 400,000 shares in the last quarter. 99.86% of the stock is owned by institutional investors.

Somnigroup International Stock Down 0.7%

SGI stock opened at $62.41 on Friday. The firm has a market capitalization of $13.13 billion, a PE ratio of 24.96, a P/E/G ratio of 1.41 and a beta of 1.20. The company has a quick ratio of 0.37, a current ratio of 0.75 and a debt-to-equity ratio of 1.33. Somnigroup International Inc. has a twelve month low of $60.39 and a twelve month high of $98.56. The stock’s 50 day moving average is $70.49 and its 200-day moving average is $74.70.

Somnigroup International (NYSE:SGI) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. Somnigroup International had a return on equity of 19.32% and a net margin of 7.00%.The business had revenue of $1.82 billion during the quarter. During the same quarter last year, the company posted $0.53 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. Somnigroup International has set its FY 2026 guidance at 2.850-3.150 EPS. Sell-side analysts expect that Somnigroup International Inc. will post 3.02 EPS for the current fiscal year.

Somnigroup International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a $0.17 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. Somnigroup International’s dividend payout ratio is currently 27.20%.

Analyst Upgrades and Downgrades

SGI has been the subject of several recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Somnigroup International in a report on Friday, August 21st. Zacks Research cut Somnigroup International from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Morgan Stanley assumed coverage on shares of Somnigroup International in a research note on Monday, July 27th. They set an “overweight” rating and a $95.00 price target for the company. Zelman & Associates assumed coverage on shares of Somnigroup International in a report on Tuesday, June 23rd. They set an “outperform” rating and a $99.00 price objective on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 price objective (down from $102.00) on shares of Somnigroup International in a research note on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.50.

Insider Activity at Somnigroup International

In other news, CEO Scott L. Thompson purchased 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were bought at an average cost of $62.84 per share, with a total value of $1,885,200.00. Following the completion of the transaction, the chief executive officer directly owned 4,123,634 shares of the company’s stock, valued at approximately $259,129,160.56. This trade represents a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.99% of the stock is currently owned by corporate insiders.

Somnigroup International Company Profile

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.