Mattress Firm (NASDAQ:MFRM) Receives a Downgrade
Citigroup has cut the rating for shares of Mattress Firm (NASDAQ:MFRM) to a solid “Neutral” in analysts report announced on 14 December. MFRM’s previous rating by the firm was a “Buy”.
From a total of 9 analysts covering Mattress Firm Holding Corp (NASDAQ:MFRM) stock, 6 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 55% of the ratings are positive. The highest target price is $70 while the lowest target price is $50. The mean of all analyst targets is $59 with a 22.17% above today’s ($45.43) stock price. Mattress Firm Holding Corp was the topic of 7 analyst reports since August 14, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray maintained shares on December 1 with “Neutral” rating. UBS maintained MFRM stock in a recent report from September 14 with “Buy” rating. Finally, Zacks upgraded the stock to “Sell” rating in a report issued on an August 14.
Approximately 149,958 shares of stock traded hands. Mattress Firm Holding Corp (NASDAQ:MFRM) has declined 16.71% since May 11, 2015 and is downtrending. It has underperformed by 12.29% the S&P500.
The overall sentiment of institutions has decreased to 1.44 in Q2 2015. Its down 1.00, from 2.44 in 2015Q2. The ratio dropped, as 17 institutions have sold all the shares of Mattress Firm Holding Corp that they owned while 26 funds have taken shares off the table. 14 funds have purchased shares for the first time while 48 added to their positions. These institutions now hold 24.45 million shares or 8.33% less than the 26.67 million shares they owned in 2015Q2.
The Fund Echinus Advisors Llc currently is holding shares equating to 11.15% of its total portfolio in Mattress Firm Holding Corp representing a total of 746,018 shares. Another fund,40 North Management Llc, is holding a total of 2.42 million shares equating to 7.15% of their holdings. Additionally, Stockbridge Partners Llc has a 2.58 million share stake in Mattress Firm Holding Corp which represents 6.1% of their total portfolio. The Fund, Pivot Point Capital Partners Llc, based out of California, has also built up a stake in the stock, which represents a total of 5.25% of their total portfolio. Finally Pennant Capital Management Llc, a fund which is based in the state of New Jersey reported a total holdings of 2.74 million shares.
Insider activity is a very important aspect to track on any stock. Going back to March 25, 2015, shareholders of Mattress Firm Holding Corp have witnessed 1 insider purchase, and a total of 6 selling transactions equating to a net activity of approximately $1.45 million . Stagner R. Stephen sold 2,687 shares worth approximately $113,466. Weiss Alexander bought 5,000 shares worth approximately $226,739. Tinsey Iii Frederick C. sold 4,300 shares worth approximately $262,746. Fiorentino David A sold 6,000 shares worth approximately $411,041. The company insider Childs John W sold 1.50M shares worth $99.71M.
Mattress Firm Holding Corp. is a holding company. The company has a market cap of $1.67 billion. The Company, through its direct and indirect subsidiaries, is a retailer of mattresses and bedding-related products in various metropolitan markets in the United States through company-operated and franchise-owned mattress specialty stores that operate primarily under the name Mattress Firm. It has 27.84 P/E ratio. The Firm operates through two reportable divisions: retail activities and franchise operations.
According to Zacks Investment Research, “Mattress Firm Holding Corp. operates as a mattress retailer in the United States. It offers both traditional and specialty mattresses, bedding accessories and related products. The Company also offers bed frames, pillows, tempurpedic pillows, headboards and footboards, mattress protectors, pillow top, and memory foam mattresses. Mattress Firm Holding Corp. is headquartered in Houston, Texas.”