Quinn Opportunity Partners LLC Makes New Investment in Sonos, Inc. (NASDAQ:SONO)

Quinn Opportunity Partners LLC bought a new position in shares of Sonos, Inc. (NASDAQ:SONOGet Rating) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 60,000 shares of the company’s stock, valued at approximately $1,788,000.

Other hedge funds have also recently bought and sold shares of the company. KRS Capital Management LLC bought a new position in Sonos in the 4th quarter valued at approximately $35,000. National Bank of Canada FI purchased a new stake in shares of Sonos in the 4th quarter worth $40,000. Spire Wealth Management increased its stake in Sonos by 824.0% in the 4th quarter. Spire Wealth Management now owns 1,848 shares of the company’s stock worth $55,000 after buying an additional 1,648 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Sonos by 255.1% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,088 shares of the company’s stock worth $62,000 after buying an additional 1,500 shares in the last quarter. Finally, Canton Hathaway LLC purchased a new stake in Sonos in the 4th quarter worth $89,000. Hedge funds and other institutional investors own 91.37% of the company’s stock.

A number of research analysts have recently weighed in on the company. Jefferies Financial Group cut their price objective on Sonos from $50.00 to $45.00 in a research report on Monday, May 9th. Stifel Nicolaus decreased their price objective on shares of Sonos from $40.00 to $34.00 in a research note on Thursday, February 10th. Morgan Stanley decreased their price objective on shares of Sonos from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, February 3rd. DA Davidson decreased their price target on shares of Sonos from $49.00 to $40.00 in a research note on Thursday, May 12th. Finally, TheStreet lowered shares of Sonos from a “b-” rating to a “c” rating in a report on Wednesday, May 11th.

Shares of Sonos stock opened at $22.11 on Friday. Sonos, Inc. has a fifty-two week low of $18.92 and a fifty-two week high of $42.57. The firm has a 50-day simple moving average of $24.37 and a two-hundred day simple moving average of $26.90. The company has a market cap of $2.83 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 2.22 and a beta of 1.86.

Sonos (NASDAQ:SONOGet Rating) last announced its earnings results on Wednesday, May 11th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $399.78 million during the quarter, compared to analysts’ expectations of $361.40 million. Sonos had a net margin of 7.83% and a return on equity of 32.39%. During the same quarter in the previous year, the business posted $0.31 earnings per share. As a group, sell-side analysts expect that Sonos, Inc. will post 1.09 earnings per share for the current fiscal year.

In other news, Director Joanna Coles sold 905 shares of the business’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $27.71, for a total transaction of $25,077.55. Following the transaction, the director now directly owns 24,717 shares of the company’s stock, valued at $684,908.07. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Patrick Spence sold 65,237 shares of the business’s stock in a transaction on Monday, April 18th. The stock was sold at an average price of $25.67, for a total transaction of $1,674,633.79. Following the transaction, the chief executive officer now directly owns 668,969 shares in the company, valued at $17,172,434.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,596 shares of company stock valued at $4,139,960. Insiders own 3.60% of the company’s stock.

Sonos Profile (Get Rating)

Sonos, Inc, together with its subsidiaries, designs, develops, manufactures, and sells multi-room audio products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides wireless speakers, home theater speakers, components, and accessories. It 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 sonos.com.

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Institutional Ownership by Quarter for Sonos (NASDAQ:SONO)

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