Alliancebernstein L.P. Has $1.88 Million Stake in Select Comfort Corporation (NASDAQ:SCSS)

Alliancebernstein L.P. reduced its position in Select Comfort Corporation (NASDAQ:SCSS) by 93.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,800 shares of the company’s stock after selling 1,109,636 shares during the period. Alliancebernstein L.P.’s holdings in Select Comfort Corporation were worth $1,879,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCSS. Victory Capital Management Inc. purchased a new position in shares of Select Comfort Corporation during the first quarter worth about $107,000. Schmidt P J Investment Management Inc. purchased a new position in shares of Select Comfort Corporation during the first quarter worth about $201,000. Karp Capital Management Corp purchased a new position in shares of Select Comfort Corporation during the first quarter worth about $249,000. Mason Street Advisors LLC increased its position in shares of Select Comfort Corporation by 2.3% in the first quarter. Mason Street Advisors LLC now owns 10,043 shares of the company’s stock worth $249,000 after buying an additional 223 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Select Comfort Corporation during the first quarter worth about $255,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Select Comfort Corporation (NASDAQ SCSS) opened at 32.51 on Friday. Select Comfort Corporation has a 1-year low of $17.95 and a 1-year high of $36.74. The company has a 50-day moving average of $31.95 and a 200-day moving average of $26.74. The firm has a market capitalization of $1.34 billion, a PE ratio of 23.73 and a beta of 0.69.

Select Comfort Corporation (NASDAQ:SCSS) last announced its quarterly earnings results on Monday, July 17th. The company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.07. The company had revenue of $284.70 million during the quarter, compared to analysts’ expectations of $300.21 million. Select Comfort Corporation had a net margin of 4.46% and a return on equity of 44.91%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 earnings per share. Equities research analysts predict that Select Comfort Corporation will post $1.38 EPS for the current fiscal year.

WARNING: “[[title]]” was published by [[site]] and is the sole property of of [[site]]. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at [[permalink]].

A number of research analysts have recently issued reports on SCSS shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $36.00 price objective (up previously from $32.00) on shares of Select Comfort Corporation in a research report on Tuesday. Zacks Investment Research raised shares of Select Comfort Corporation from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Saturday, April 22nd. Piper Jaffray Companies set a $32.00 price objective on shares of Select Comfort Corporation and gave the stock a “buy” rating in a research report on Thursday, April 20th. BidaskClub raised shares of Select Comfort Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Raymond James Financial, Inc. downgraded shares of Select Comfort Corporation from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $31.83.

In other Select Comfort Corporation news, EVP Andrew P. Carlin sold 14,500 shares of the stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $31.63, for a total value of $458,635.00. Following the transaction, the executive vice president now directly owns 43,546 shares in the company, valued at $1,377,359.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brenda J. Lauderback sold 1,372 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $29.55, for a total transaction of $40,542.60. The disclosure for this sale can be found here. Insiders sold 181,076 shares of company stock worth $5,690,607 over the last quarter. 4.00% of the stock is currently owned by insiders.

About Select Comfort Corporation

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.

Want to see what other hedge funds are holding SCSS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Select Comfort Corporation (NASDAQ:SCSS).