Select Comfort Corporation (SCSS) Position Decreased by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan cut its position in shares of Select Comfort Corporation (NASDAQ:SCSS) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,240 shares of the company’s stock after selling 80 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Select Comfort Corporation were worth $254,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new position in shares of Select Comfort Corporation during the fourth quarter worth $3,308,000. Comerica Bank raised its position in shares of Select Comfort Corporation by 3.5% in the fourth quarter. Comerica Bank now owns 47,930 shares of the company’s stock worth $1,006,000 after buying an additional 1,604 shares during the period. State Street Corp raised its position in shares of Select Comfort Corporation by 3.5% in the fourth quarter. State Street Corp now owns 1,000,190 shares of the company’s stock worth $22,625,000 after buying an additional 33,963 shares during the period. Two Sigma Investments LP bought a new position in shares of Select Comfort Corporation during the fourth quarter worth $362,000. Finally, Guggenheim Capital LLC raised its position in shares of Select Comfort Corporation by 11.4% in the fourth quarter. Guggenheim Capital LLC now owns 66,374 shares of the company’s stock worth $1,501,000 after buying an additional 6,784 shares during the period. Institutional investors own 99.76% of the company’s stock.

Select Comfort Corporation (SCSS) opened at 30.56 on Monday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 22.18 and a beta of 0.69. Select Comfort Corporation has a 12-month low of $17.95 and a 12-month high of $36.74. The company’s 50 day moving average is $30.81 and its 200 day moving average is $25.81.

Select Comfort Corporation (NASDAQ:SCSS) last posted its earnings results on Wednesday, April 19th. The company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.10. The company had revenue of $393.90 million during the quarter, compared to the consensus estimate of $370.03 million. Select Comfort Corporation had a net margin of 4.65% and a return on equity of 39.03%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 earnings per share. On average, equities analysts anticipate that Select Comfort Corporation will post $1.40 earnings per share for the current year.

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SCSS has been the topic of a number of research analyst reports. Citigroup Inc. lowered shares of Select Comfort Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 11th. Raymond James Financial, Inc. lowered shares of Select Comfort Corporation from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, April 11th. Zacks Investment Research upgraded shares of Select Comfort Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 12th. Piper Jaffray Companies set a $32.00 target price on shares of Select Comfort Corporation and gave the company a “buy” rating in a report on Thursday, April 20th. Finally, Stifel Nicolaus restated a “buy” rating and set a $32.00 target price (up previously from $27.00) on shares of Select Comfort Corporation in a report on Saturday, April 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $30.50.

In related news, insider Shelly Radue Ibach sold 79,844 shares of the company’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $31.13, for a total transaction of $2,485,543.72. Following the completion of the sale, the insider now directly owns 14,000 shares of the company’s stock, valued at approximately $435,820. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Andrew P. Carlin sold 14,500 shares of the company’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $31.63, for a total transaction of $458,635.00. Following the sale, the executive vice president now directly owns 43,546 shares of the company’s stock, valued at $1,377,359.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 181,076 shares of company stock valued at $5,690,607. 4.00% of the stock is owned by insiders.

About Select Comfort Corporation

Select Comfort Corporation is a designer, manufacturer, marketer, retailer and servicer of a line of Sleep Number beds. The Company offers consumers individualized sleep solutions and services, which include a complete line of Sleep Number beds, bases and bedding accessories. Its Sleep Number bed offers SleepIQ technology sensors that work directly with the bed’s DualAir technology to track each individual’s sleep.

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Institutional Ownership by Quarter for Select Comfort Corporation (NASDAQ:SCSS)

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