OMERS ADMINISTRATION Corp Has $1.51 Million Stock Position in Sonos, Inc. (NASDAQ:SONO)

OMERS ADMINISTRATION Corp lessened its stake in Sonos, Inc. (NASDAQ:SONO) by 39.8% in the fourth quarter, Holdings Channel reports. The firm owned 100,200 shares of the company’s stock after selling 66,200 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Sonos were worth $1,507,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SONO. Barclays PLC raised its stake in Sonos by 120.3% in the third quarter. Barclays PLC now owns 923,437 shares of the company’s stock valued at $11,350,000 after purchasing an additional 504,293 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Sonos by 7,557.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 156,049 shares of the company’s stock valued at $2,347,000 after purchasing an additional 154,011 shares in the last quarter. SG Americas Securities LLC raised its stake in Sonos by 4.2% in the fourth quarter. SG Americas Securities LLC now owns 40,839 shares of the company’s stock valued at $614,000 after purchasing an additional 1,644 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Sonos by 115.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 82,203 shares of the company’s stock valued at $1,236,000 after purchasing an additional 44,053 shares in the last quarter. Finally, KBC Group NV raised its stake in Sonos by 52.6% in the fourth quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $111,000 after purchasing an additional 2,551 shares in the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.

Analyst Ratings Changes

SONO has been the subject of a number of analyst reports. Rosenblatt Securities dropped their price target on Sonos from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Jefferies Financial Group dropped their price target on Sonos from $19.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, April 7th.

Sonos Trading Down 0.8%

Shares of NASDAQ SONO opened at $10.83 on Friday. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -19.00 and a beta of 2.06. Sonos, Inc. has a 12 month low of $7.63 and a 12 month high of $17.21. The stock has a 50-day moving average price of $9.83 and a two-hundred day moving average price of $12.47.

Sonos declared that its Board of Directors has approved a stock buyback program on Monday, February 24th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to reacquire up to 10.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Sonos news, major shareholder Coliseum Capital Management, L bought 62,506 shares of the stock in a transaction on Monday, April 7th. The stock was purchased at an average price of $8.38 per share, with a total value of $523,800.28. Following the completion of the purchase, the insider now owns 12,118,088 shares in the company, valued at $101,549,577.44. The trade was a 0.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Sonos Company Profile

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.