Alpha Wealth Funds LLC Makes New Investment in Sleep Number Corporation $SNBR

Alpha Wealth Funds LLC acquired a new position in shares of Sleep Number Corporation (NASDAQ:SNBR) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 17,000 shares of the company’s stock, valued at approximately $114,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. CWM LLC increased its stake in Sleep Number by 218.7% during the first quarter. CWM LLC now owns 11,963 shares of the company’s stock valued at $76,000 after purchasing an additional 8,209 shares during the last quarter. GAMMA Investing LLC increased its stake in Sleep Number by 116.1% during the first quarter. GAMMA Investing LLC now owns 16,085 shares of the company’s stock valued at $102,000 after purchasing an additional 8,642 shares during the last quarter. Strs Ohio bought a new stake in Sleep Number during the first quarter valued at $130,000. Ieq Capital LLC bought a new stake in Sleep Number during the first quarter valued at $142,000. Finally, Acadian Asset Management LLC increased its stake in Sleep Number by 1,009.4% during the first quarter. Acadian Asset Management LLC now owns 34,304 shares of the company’s stock valued at $216,000 after purchasing an additional 31,212 shares during the last quarter. 85.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sleep Number in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sleep Number has an average rating of “Reduce” and a consensus target price of $8.33.

Sleep Number Stock Performance

Sleep Number stock opened at $6.68 on Friday. The company has a 50-day simple moving average of $8.72 and a 200-day simple moving average of $8.02. The firm has a market capitalization of $152.11 million, a P/E ratio of -3.67 and a beta of 1.74. Sleep Number Corporation has a one year low of $4.48 and a one year high of $20.73.

Sleep Number (NASDAQ:SNBR) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.97). The firm had revenue of $327.93 million for the quarter, compared to analyst estimates of $357.42 million. The business’s revenue was down 19.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.22) EPS. Sleep Number has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Sleep Number Corporation will post -0.42 earnings per share for the current year.

About Sleep Number

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.