Y Intercept Hong Kong Ltd Reduces Holdings in Sonos, Inc. (NASDAQ:SONO)

Y Intercept Hong Kong Ltd trimmed its position in shares of Sonos, Inc. (NASDAQ:SONO) by 54.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,107 shares of the company’s stock after selling 24,190 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Sonos were worth $247,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in SONO. Bank of New York Mellon Corp increased its position in shares of Sonos by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 1,465,113 shares of the company’s stock worth $21,625,000 after purchasing an additional 13,373 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in Sonos by 9.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 558,363 shares of the company’s stock valued at $8,241,000 after buying an additional 46,102 shares in the last quarter. F M Investments LLC purchased a new stake in Sonos in the 2nd quarter valued at $4,218,000. nVerses Capital LLC purchased a new stake in Sonos in the 2nd quarter valued at $81,000. Finally, Natixis Advisors LLC grew its holdings in Sonos by 19.8% in the 2nd quarter. Natixis Advisors LLC now owns 22,815 shares of the company’s stock valued at $337,000 after buying an additional 3,776 shares in the last quarter. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

Sonos Stock Down 4.1 %

Shares of Sonos stock opened at $13.96 on Thursday. Sonos, Inc. has a 52 week low of $10.23 and a 52 week high of $19.76. The business’s fifty day simple moving average is $13.47 and its 200-day simple moving average is $13.29. The firm has a market cap of $1.70 billion, a PE ratio of -42.30 and a beta of 2.04.

Sonos (NASDAQ:SONO) last announced its quarterly earnings results on Wednesday, November 13th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.22). Sonos had a negative net margin of 2.51% and a negative return on equity of 4.97%. The business had revenue of $255.38 million during the quarter, compared to analyst estimates of $247.92 million. During the same period last year, the company earned ($0.21) EPS. The business’s revenue for the quarter was down 16.3% on a year-over-year basis. As a group, equities analysts expect that Sonos, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley cut Sonos from an “overweight” rating to an “underweight” rating and dropped their target price for the company from $25.00 to $11.00 in a report on Thursday, September 26th.

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.