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

Sonos, Inc. (NASDAQ:SONO) major shareholder Coliseum Capital Management, L bought 147,157 shares of Sonos stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average cost of $9.17 per share, for a total transaction of $1,349,429.69. Following the purchase, the insider now directly owns 12,055,582 shares in the company, valued at approximately $110,549,686.94. The trade was a 1.24 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s shares 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 cost of $8.38 per share, for a total transaction of $523,800.28.

Sonos Stock Down 0.3 %

Shares of SONO stock opened at $8.57 on Tuesday. Sonos, Inc. has a 12-month low of $7.95 and a 12-month high of $18.48. The firm has a fifty day moving average of $12.38 and a 200-day moving average of $13.17. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -15.04 and a beta of 2.01.

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

Sonos declared that its Board of Directors has authorized a share buyback plan on Monday, February 24th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SONO shares. Jefferies Financial Group cut their price target on Sonos from $19.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday. Rosenblatt Securities reissued a “buy” rating and issued a $18.00 target price on shares of Sonos in a research note on Friday, February 7th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. NBW Capital LLC boosted its stake in Sonos by 42.6% in the 4th quarter. NBW Capital LLC now owns 256,134 shares of the company’s stock worth $3,852,000 after purchasing an additional 76,454 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Sonos in the fourth quarter valued at about $403,000. Barclays PLC boosted its position in shares of Sonos by 120.3% during the third 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 period. Nisa Investment Advisors LLC grew its holdings in shares of Sonos by 7,557.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 156,049 shares of the company’s stock worth $2,347,000 after buying an additional 154,011 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Sonos in the 4th quarter valued at approximately $1,676,000. Institutional investors and hedge funds 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.