Somnigroup International (NYSE:SGI) Reaches New 12-Month High – Here’s Why

Shares of Somnigroup International Inc. (NYSE:SGI) reached a new 52-week high on Friday . The stock traded as high as $96.82 and last traded at $96.36, with a volume of 939377 shares. The stock had previously closed at $94.84.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SGI. Wall Street Zen upgraded Somnigroup International from a “hold” rating to a “buy” rating in a report on Friday, November 28th. Zacks Research lowered Somnigroup International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Somnigroup International in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Somnigroup International Stock Up 1.5%

The firm has a fifty day moving average price of $91.56. The stock has a market cap of $20.20 billion, a price-to-earnings ratio of 62.90, a P/E/G ratio of 1.48 and a beta of 1.31. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.75 and a quick ratio of 0.38.

Somnigroup International (NYSE:SGI) last released its earnings results on Thursday, November 6th. The company reported $0.95 EPS for the quarter. The firm had revenue of $2.12 billion for the quarter. Somnigroup International had a return on equity of 22.73% and a net margin of 4.62%.

Insider Buying and Selling

In other Somnigroup International news, Director Simon Dyer bought 32,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was acquired at an average price of $93.40 per share, with a total value of $2,988,800.00. Following the completion of the transaction, the director owned 36,800 shares in the company, valued at approximately $3,437,120. This trade represents a 666.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.96% of the company’s stock.

Hedge Funds Weigh In On Somnigroup International

A number of large investors have recently modified their holdings of the business. Allworth Financial LP bought a new position in shares of Somnigroup International in the 3rd quarter valued at about $32,000. Elyxium Wealth LLC bought a new stake in Somnigroup International during the fourth quarter worth about $35,000. First Horizon Corp boosted its position in Somnigroup International by 93.3% during the fourth quarter. First Horizon Corp now owns 464 shares of the company’s stock valued at $41,000 after purchasing an additional 224 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Somnigroup International in the fourth quarter valued at approximately $42,000. Finally, Assetmark Inc. grew its stake in Somnigroup International by 56.6% in the fourth quarter. Assetmark Inc. now owns 512 shares of the company’s stock valued at $46,000 after purchasing an additional 185 shares in the last quarter. 99.86% of the stock is currently owned by institutional investors and hedge funds.

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.