Alpha Wealth Funds LLC Takes Position in Sleep Number Corporation $SNBR

Alpha Wealth Funds LLC purchased a new stake in Sleep Number Corporation (NASDAQ:SNBR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,000 shares of the company’s stock, valued at approximately $114,000. Alpha Wealth Funds LLC owned 0.08% of Sleep Number as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of SNBR. GAMMA Investing LLC raised its holdings in Sleep Number by 116.1% in the first quarter. GAMMA Investing LLC now owns 16,085 shares of the company’s stock valued at $102,000 after buying an additional 8,642 shares during the period. CWM LLC raised its stake in shares of 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 period. Schwarz Dygos Wheeler Investment Advisors LLC raised its stake in shares of Sleep Number by 188.6% during the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 396,777 shares of the company’s stock valued at $2,516,000 after purchasing an additional 259,314 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Sleep Number during the first quarter valued at approximately $279,000. Finally, Federated Hermes Inc. raised its stake in shares of Sleep Number by 102.7% during the first quarter. Federated Hermes Inc. now owns 98,212 shares of the company’s stock valued at $623,000 after purchasing an additional 49,764 shares during the period. Hedge funds and other institutional investors own 85.67% of the company’s stock.

Analyst Upgrades and Downgrades

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

Sleep Number Trading Up 2.3%

Shares of NASDAQ:SNBR opened at $6.68 on Friday. The firm has a market cap of $152.11 million, a PE ratio of -3.67 and a beta of 1.74. The company has a fifty day simple moving average of $8.72 and a 200 day simple moving average of $8.02. Sleep Number Corporation has a 12-month low of $4.48 and a 12-month high of $20.73.

Sleep Number (NASDAQ:SNBR) last posted its quarterly earnings data on Wednesday, July 30th. The company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.97). The business had revenue of $327.93 million for the quarter, compared to analysts’ expectations of $357.42 million. Sleep Number’s revenue was down 19.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.22) EPS. Sleep Number has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Sleep Number Corporation will post -0.42 EPS for the current fiscal year.

Sleep Number Profile

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.