LMR Partners LLP Invests $7.41 Million in Sonos, Inc. (NASDAQ:SONO)

LMR Partners LLP acquired a new position in shares of Sonos, Inc. (NASDAQ:SONO) in the third quarter, Holdings Channel reports. The firm acquired 603,094 shares of the company’s stock, valued at approximately $7,412,000.

Other institutional investors also recently added to or reduced their stakes in the company. Gladius Capital Management LP purchased a new stake in Sonos during the third quarter valued at approximately $30,000. Covestor Ltd grew its stake in shares of Sonos by 376.7% during the first quarter. Covestor Ltd now owns 1,988 shares of the company’s stock worth $38,000 after acquiring an additional 1,571 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sonos during the second quarter valued at about $46,000. KBC Group NV raised its position in shares of Sonos by 52.5% in the 3rd quarter. KBC Group NV now owns 4,852 shares of the company’s stock valued at $60,000 after purchasing an additional 1,670 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in Sonos by 138.8% in the 2nd quarter. Quest Partners LLC now owns 4,850 shares of the company’s stock worth $72,000 after purchasing an additional 2,819 shares in the last quarter. Institutional investors own 85.82% of the company’s stock.

Sonos Stock Performance

Shares of SONO opened at $12.63 on Tuesday. Sonos, Inc. has a 52 week low of $10.23 and a 52 week high of $19.76. The stock’s 50-day moving average price is $12.57 and its 200-day moving average price is $13.71.

Sonos (NASDAQ:SONO) last released its quarterly earnings results on Wednesday, November 13th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.22). The firm had revenue of $255.38 million for the quarter, compared to analyst estimates of $247.92 million. Sonos had a negative net margin of 2.51% and a negative return on equity of 4.97%. The firm’s quarterly revenue was down 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.21) EPS. Research analysts predict that Sonos, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SONO. Craig Hallum downgraded shares of Sonos from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $25.00 to $10.00 in a research note on Thursday, August 8th. Morgan Stanley downgraded shares of Sonos from an “overweight” rating to an “underweight” rating and cut their price target for the stock from $25.00 to $11.00 in a report on Thursday, September 26th.

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.