Sleep Number Sees Unusually Large Options Volume (SNBR)

Sleep Number (NASDAQ:SNBR) was the target of some unusual options trading on Monday. Investors purchased 2,207 put options on the company. This is an increase of approximately 1,324% compared to the average volume of 155 put options.

SNBR stock opened at $35.15 on Tuesday. The company has a market capitalization of $1,342.43, a price-to-earnings ratio of 23.59, a P/E/G ratio of 0.96 and a beta of 0.82. Sleep Number has a twelve month low of $24.21 and a twelve month high of $40.72.

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Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.13. The firm had revenue of $363.28 million during the quarter, compared to the consensus estimate of $331.72 million. Sleep Number had a return on equity of 61.21% and a net margin of 4.51%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. equities research analysts predict that Sleep Number will post 1.88 EPS for the current year.

In related news, EVP Andrew P. Carlin sold 3,000 shares of Sleep Number stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $37.00, for a total value of $111,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Mark A. Kimball sold 8,000 shares of Sleep Number stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $37.26, for a total value of $298,080.00. The disclosure for this sale can be found here. In the last three months, insiders sold 41,545 shares of company stock worth $1,491,216. 4.00% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of SNBR. Ameriprise Financial Inc. grew its stake in Sleep Number by 14.2% in the third quarter. Ameriprise Financial Inc. now owns 413,001 shares of the company’s stock valued at $12,824,000 after purchasing an additional 51,456 shares in the last quarter. Macquarie Group Ltd. bought a new position in Sleep Number in the third quarter valued at approximately $599,000. American International Group Inc. grew its stake in Sleep Number by 5.5% in the third quarter. American International Group Inc. now owns 32,550 shares of the company’s stock valued at $1,011,000 after purchasing an additional 1,692 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Sleep Number by 2.7% in the third quarter. JPMorgan Chase & Co. now owns 531,294 shares of the company’s stock valued at $16,433,000 after purchasing an additional 13,951 shares in the last quarter. Finally, Schroder Investment Management Group grew its stake in Sleep Number by 90.9% in the third quarter. Schroder Investment Management Group now owns 93,412 shares of the company’s stock valued at $2,889,000 after purchasing an additional 44,469 shares in the last quarter.

A number of equities research analysts recently issued reports on the company. BidaskClub raised Sleep Number from a “hold” rating to a “buy” rating in a research report on Thursday, February 15th. Zacks Investment Research lowered Sleep Number from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. ValuEngine raised Sleep Number from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $47.00 target price (up previously from $40.00) on shares of Sleep Number in a research report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Sleep Number has a consensus rating of “Hold” and an average price target of $34.00.

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Sleep Number Company Profile

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 and sheets, as well as other bedding products, including mattresses, box springs, and foundations under the Sleep Number name.

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