Sonos, Inc. (NASDAQ:SONO) Major Shareholder Coliseum Capital Management, L Acquires 147,157 Shares

Sonos, Inc. (NASDAQ:SONO) major shareholder Coliseum Capital Management, L purchased 147,157 shares of the stock in a transaction dated Thursday, April 3rd. The shares were bought at an average price of $9.17 per share, with a total value of $1,349,429.69. Following the completion of the acquisition, the insider now directly owns 12,055,582 shares of the company’s stock, valued at approximately $110,549,686.94. This represents a 1.24 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Coliseum Capital Management, L also recently made the following trade(s):

• On Monday, April 7th, Coliseum Capital Management, L acquired 62,506 shares of Sonos stock. The stock was acquired at an average price of $8.38 per share, with a total value of $523,800.28.

Sonos Stock Down 0.3 %

NASDAQ:SONO traded down $0.03 during trading hours on Monday, reaching $8.57. The company had a trading volume of 3,479,467 shares, compared to its average volume of 1,876,562. The business’s 50-day simple moving average is $12.38 and its two-hundred day simple moving average is $13.17. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -15.04 and a beta of 2.01. Sonos, Inc. has a twelve month low of $7.95 and a twelve month high of $18.48.

Sonos (NASDAQ:SONO) last issued its earnings results on Thursday, February 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Sonos had a negative return on equity of 13.17% and a negative net margin of 4.73%. As a group, equities analysts predict that Sonos, Inc. will post -0.37 earnings per share for the current year.

Sonos announced that its board has approved a stock buyback plan on Monday, February 24th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

SONO has been the topic of a number of analyst reports. Jefferies Financial Group reduced their price target on Sonos from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday. Rosenblatt Securities restated a “buy” rating and set a $18.00 price target on shares of Sonos in a report on Friday, February 7th.

Hedge Funds Weigh In On Sonos

Several hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in shares of Sonos by 73.7% during the third quarter. BNP Paribas Financial Markets now owns 129,567 shares of the company’s stock valued at $1,592,000 after acquiring an additional 54,972 shares during the last quarter. Wellington Management Group LLP grew its stake in Sonos by 23.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,303,017 shares of the company’s stock valued at $40,594,000 after purchasing an additional 626,172 shares during the period. EP Wealth Advisors LLC purchased a new stake in shares of Sonos during the 3rd quarter valued at $251,000. Luxor Capital Group LP bought a new stake in shares of Sonos during the 3rd quarter worth $346,000. Finally, Barclays PLC boosted its holdings in shares of Sonos by 120.3% in the 3rd quarter. Barclays PLC now owns 923,437 shares of the company’s stock worth $11,350,000 after buying an additional 504,293 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

About Sonos

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers wireless, portable, and home theater speakers; components; and accessories. The company offers its products through approximately 10,000 third-party retail stores, including custom installers of home audio systems; and e-commerce retailers, as well as through its website.