Somnigroup International (NYSE:SGI) Shares Cross Below 50 Day Moving Average – Should You Sell?

Somnigroup International Inc. (NYSE:SGI) shares passed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $64.44 and traded as low as $63.98. Somnigroup International shares last traded at $64.1790, with a volume of 7,195,013 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SGI. UBS Group boosted their price target on shares of Somnigroup International from $94.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Wall Street Zen raised shares of Somnigroup International from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Truist Financial cut their target price on shares of Somnigroup International from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Stephens upgraded Somnigroup International from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $66.00 to $80.00 in a report on Monday, September 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $100.00 price objective (up from $95.00) on shares of Somnigroup International in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $95.00.

Somnigroup International Trading Down 5.4%

The stock has a market cap of $13.50 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.09 and a beta of 1.30. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.37 and a current ratio of 0.75. The stock has a 50-day moving average price of $64.44 and a 200-day moving average price of $73.22.

Somnigroup International (NYSE:SGI) last announced its earnings results on Thursday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.58. Somnigroup International had a net margin of 7.00% and a return on equity of 19.32%. The company had revenue of $1.82 billion during the quarter. During the same quarter last year, the firm posted $0.53 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities research analysts expect that Somnigroup International Inc. will post 3.10 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Scott Thompson purchased 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were purchased at an average price of $62.84 per share, for a total transaction of $1,885,200.00. Following the purchase, the chief executive officer directly owned 4,123,634 shares of the company’s stock, valued at $259,129,160.56. This represents a 0.73% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Somnigroup International

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP lifted its position in Somnigroup International by 44.0% during the 3rd quarter. Allworth Financial LP now owns 566 shares of the company’s stock worth $35,000 after acquiring an additional 173 shares during the last quarter. HB Wealth Management LLC lifted its position in Somnigroup International by 1.7% in the 1st quarter. HB Wealth Management LLC now owns 12,092 shares of the company’s stock valued at $894,000 after acquiring an additional 207 shares in the last quarter. Brighton Jones LLC raised its holdings in Somnigroup International by 3.4% during the 3rd quarter. Brighton Jones LLC now owns 6,383 shares of the company’s stock valued at $396,000 after acquiring an additional 207 shares during the period. Sterling Capital Management LLC lifted its position in Somnigroup International by 4.0% in the third quarter. Sterling Capital Management LLC now owns 5,547 shares of the company’s stock valued at $345,000 after purchasing an additional 215 shares during the last quarter. Finally, Profund Advisors LLC increased its position in shares of Somnigroup International by 5.3% during the third quarter. Profund Advisors LLC now owns 5,027 shares of the company’s stock valued at $312,000 after acquiring an additional 252 shares in the last quarter. Institutional investors own 99.86% of the company’s stock.

Somnigroup International Company Profile

Somnigroup International Inc (NYSE: SGI) is a global bedding and sleep-products company. Its portfolio includes mattresses, pillows, adjustable bases, foundations, bed frames and other sleep-related products sold through retail stores, e-commerce channels and furniture and specialty retailers.

The company’s principal brands include Tempur-Pedic, Sealy and Stearns & Foster. Somnigroup also operates Mattress Firm, a large specialty mattress retailer in the United States, providing consumers with access to a broad range of bedding products from its own brands and other manufacturers.

Somnigroup International was formerly known as Tempur Sealy International.