Coliseum Capital Management, L Acquires 127,406 Shares of Sonos, Inc. (NASDAQ:SONO) Stock

Sonos, Inc. (NASDAQ:SONO) major shareholder Coliseum Capital Management, L purchased 127,406 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was bought at an average price of $10.61 per share, with a total value of $1,351,777.66. Following the completion of the transaction, the insider owned 14,875,280 shares of the company’s stock, valued at $157,826,720.80. The trade was a 0.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Coliseum Capital Management, L also recently made the following trade(s):

• On Friday, August 8th, Coliseum Capital Management, L bought 55,000 shares of Sonos stock. The stock was acquired at an average price of $11.21 per share, for a total transaction of $616,550.00.
• On Tuesday, August 5th, Coliseum Capital Management, L bought 160,000 shares of Sonos stock. The stock was acquired at an average price of $10.83 per share, for a total transaction of $1,732,800.00.
• On Monday, August 4th, Coliseum Capital Management, L bought 2,683 shares of Sonos stock. The stock was acquired at an average price of $10.49 per share, for a total transaction of $28,144.67.
• On Friday, August 1st, Coliseum Capital Management, L bought 80,000 shares of Sonos stock. The stock was acquired at an average price of $10.38 per share, for a total transaction of $830,400.00.
• On Tuesday, July 29th, Coliseum Capital Management, L bought 675,000 shares of Sonos stock. The stock was acquired at an average price of $11.25 per share, for a total transaction of $7,593,750.00.
• On Monday, July 28th, Coliseum Capital Management, L bought 350,000 shares of Sonos stock. The stock was acquired at an average price of $11.43 per share, for a total transaction of $4,000,500.00.
• On Friday, July 25th, Coliseum Capital Management, L bought 287,087 shares of Sonos stock. The stock was acquired at an average price of $11.18 per share, for a total transaction of $3,209,632.66.
• On Tuesday, June 24th, Coliseum Capital Management, L purchased 111,898 shares of Sonos stock. The shares were purchased at an average price of $10.34 per share, for a total transaction of $1,157,025.32.
• On Monday, June 23rd, Coliseum Capital Management, L purchased 73,530 shares of Sonos stock. The shares were purchased at an average price of $9.89 per share, for a total transaction of $727,211.70.
• On Friday, June 20th, Coliseum Capital Management, L purchased 238,000 shares of Sonos stock. The shares were purchased at an average price of $9.92 per share, for a total transaction of $2,360,960.00.

Sonos Price Performance

SONO opened at $11.30 on Tuesday. The business’s 50-day moving average is $10.67 and its two-hundred day moving average is $10.92. Sonos, Inc. has a 1 year low of $7.63 and a 1 year high of $15.89. The firm has a market capitalization of $1.37 billion, a PE ratio of -17.38 and a beta of 2.04.

Sonos (NASDAQ:SONO) last posted its earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $344.76 million during the quarter, compared to analysts’ expectations of $324.66 million. Sonos had a negative net margin of 5.41% and a negative return on equity of 18.19%. Sonos’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 EPS. As a group, sell-side analysts expect that Sonos, Inc. will post -0.37 EPS for the current year.

Institutional Investors Weigh In On Sonos

Several institutional investors have recently added to or reduced their stakes in the business. Coliseum Capital Management LLC lifted its holdings in shares of Sonos by 9.7% during the first quarter. Coliseum Capital Management LLC now owns 11,775,582 shares of the company’s stock worth $125,645,000 after purchasing an additional 1,041,569 shares during the period. Trigran Investments Inc. lifted its holdings in shares of Sonos by 24.0% during the first quarter. Trigran Investments Inc. now owns 5,248,935 shares of the company’s stock worth $56,006,000 after purchasing an additional 1,017,223 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Sonos by 10.6% during the fourth quarter. Wellington Management Group LLP now owns 3,654,074 shares of the company’s stock worth $54,957,000 after purchasing an additional 351,057 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Sonos by 3.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 3,283,633 shares of the company’s stock worth $35,036,000 after purchasing an additional 96,111 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Sonos by 5.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,687,007 shares of the company’s stock worth $40,413,000 after purchasing an additional 148,608 shares during the period. Institutional investors and hedge funds own 85.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on SONO shares. Rosenblatt Securities raised their price target on Sonos from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Wall Street Zen upgraded Sonos from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd.

Sonos Company Profile

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.