Somnigroup International (NYSE:SGI) Stock Price Up 6.3% Following Insider Buying Activity

Somnigroup International Inc. (NYSE:SGI) shares traded up 6.3% during trading on Friday following insider buying activity. The company traded as high as $66.41 and last traded at $66.40. 1,012,752 shares were traded during trading, a decline of 62% from the average daily volume of 2,659,071 shares. The stock had previously closed at $62.48.

Specifically, CEO Scott L. Thompson bought 30,000 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were bought at an average cost of $62.84 per share, with a total value of $1,885,200.00. Following the purchase, the chief executive officer directly owned 4,123,634 shares in the company, valued at $259,129,160.56. This trade represents a 0.73% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SGI. Zacks Research cut Somnigroup International from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Morgan Stanley started coverage on shares of Somnigroup International in a research report on Monday, July 27th. They issued an “overweight” rating and a $95.00 price target for the company. Piper Sandler restated an “overweight” rating and set a $95.00 price target (down from $102.00) on shares of Somnigroup International in a report on Friday, August 7th. Zelman & Associates initiated coverage on shares of Somnigroup International in a research report on Tuesday, June 23rd. They set an “outperform” rating and a $99.00 price objective on the stock. Finally, UBS Group dropped their price objective on shares of Somnigroup International from $105.00 to $94.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.50.

Somnigroup International Stock Up 6.3%

The business has a fifty day moving average of $70.49 and a 200 day moving average of $74.70. The stock has a market cap of $13.97 billion, a price-to-earnings ratio of 26.56, a P/E/G ratio of 1.41 and a beta of 1.20. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.75 and a quick ratio of 0.37.

Somnigroup International (NYSE:SGI) last posted its earnings results on Thursday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. The firm had revenue of $1.82 billion during the quarter. Somnigroup International had a net margin of 7.00% and a return on equity of 19.32%. Somnigroup International’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. Somnigroup International has set its FY 2026 guidance at 2.850-3.150 EPS. On average, equities analysts predict that Somnigroup International Inc. will post 3.02 earnings per share for the current year.

Somnigroup International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 20th. Somnigroup International’s payout ratio is presently 27.20%.

Institutional Investors Weigh In On Somnigroup International

A number of large investors have recently bought and sold shares of SGI. BlackRock Inc. acquired a new position in Somnigroup International during the second quarter worth $1,507,604,000. California State Teachers Retirement System increased its holdings in shares of Somnigroup International by 7,702.3% during the 2nd quarter. California State Teachers Retirement System now owns 18,088,526 shares of the company’s stock valued at $1,418,140,000 after acquiring an additional 17,856,689 shares during the last quarter. Linonia Partnership LP bought a new position in shares of Somnigroup International in the 2nd quarter valued at approximately $519,372,000. Geode Capital Management LLC raised its stake in shares of Somnigroup International by 9.3% in the 4th quarter. Geode Capital Management LLC now owns 4,375,264 shares of the company’s stock valued at $390,699,000 after acquiring an additional 371,234 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Somnigroup International by 7.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,429,208 shares of the company’s stock worth $306,160,000 after purchasing an additional 232,953 shares during the last quarter. 99.86% of the stock is currently owned by institutional investors.

About Somnigroup International

Somnigroup International Inc, together with its subsidiaries, designs, manufactures, distributes, and retails bedding products in the United States and internationally. It provides mattresses, foundations and adjustable foundations, and adjustable bases, as well as other products comprising pillows, mattress covers, sheets, cushions, and various other accessories and comfort products under the Tempur-Pedic, Sealy, Stearns & Foster, Sealy, and Cocoon by Sealy brand names. The company sells its products through approximately company-owned stores, online, and call centers; and third party retailers, including third party distribution, hospitality, and healthcare.