Spark Investment Management LLC cut its stake in Select Comfort Corporation (NASDAQ:SCSS) by 16.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 167,800 shares of the company’s stock after selling 33,600 shares during the period. Spark Investment Management LLC owned about 0.41% of Select Comfort Corporation worth $5,955,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of SCSS. BlackRock Inc. raised its stake in Select Comfort Corporation by 128,067.2% in the first quarter. BlackRock Inc. now owns 5,166,419 shares of the company’s stock worth $128,077,000 after buying an additional 5,162,388 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Select Comfort Corporation during the second quarter worth about $56,857,000. River Road Asset Management LLC acquired a new stake in Select Comfort Corporation during the first quarter worth about $24,539,000. Copper Rock Capital Partners LLC acquired a new stake in Select Comfort Corporation during the second quarter worth about $19,391,000. Finally, Bank of Montreal Can raised its stake in Select Comfort Corporation by 420.9% in the second quarter. Bank of Montreal Can now owns 741,151 shares of the company’s stock worth $26,303,000 after buying an additional 598,859 shares during the last quarter. 99.76% of the stock is owned by institutional investors.
Shares of Select Comfort Corporation (SCSS) traded up 0.76% on Friday, hitting $33.00. 474,560 shares of the stock traded hands. The company has a market cap of $1.36 billion, a PE ratio of 24.09 and a beta of 0.67. Select Comfort Corporation has a 12 month low of $17.95 and a 12 month high of $36.74. The firm’s 50 day moving average is $32.68 and its 200-day moving average is $27.98.
Select Comfort Corporation (NASDAQ:SCSS) last announced its earnings results on Monday, July 17th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.07. Select Comfort Corporation had a net margin of 4.46% and a return on equity of 44.91%. The business had revenue of $284.70 million during the quarter, compared to analyst estimates of $300.21 million. During the same period in the previous year, the company earned $0.03 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts predict that Select Comfort Corporation will post $1.38 earnings per share for the current year.
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SCSS has been the subject of a number of research reports. Bank of America Corporation reaffirmed an “underperform” rating and set a $21.50 target price on shares of Select Comfort Corporation in a report on Saturday, April 22nd. Zacks Investment Research lowered shares of Select Comfort Corporation from a “buy” rating to a “hold” rating in a report on Friday, April 28th. Stifel Nicolaus reaffirmed 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. Wedbush reaffirmed a “neutral” rating and set a $25.00 target price on shares of Select Comfort Corporation in a report on Thursday, June 1st. Finally, Piper Jaffray Companies set a $32.00 target price on shares of Select Comfort Corporation and gave the stock a “buy” rating in a report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $31.33.
In other news, SVP Mark A. Kimball sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $34.06, for a total value of $272,480.00. Following the completion of the sale, the senior vice president now directly owns 72,186 shares in the company, valued at approximately $2,458,655.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brenda J. Lauderback sold 18,500 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $32.65, for a total value of $604,025.00. Following the completion of the sale, the director now owns 41,790 shares of the company’s stock, valued at $1,364,443.50. The disclosure for this sale can be found here. Insiders sold a total of 27,872 shares of company stock valued at $917,048 over the last quarter. Company insiders own 4.00% of the company’s stock.
Select Comfort Corporation Company Profile
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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