VELA Investment Management LLC Increases Stake in SI-BONE, Inc. (NASDAQ:SIBN)

VELA Investment Management LLC raised its stake in shares of SI-BONE, Inc. (NASDAQ:SIBN) by 23.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,671 shares of the company’s stock after buying an additional 23,592 shares during the quarter. VELA Investment Management LLC’s holdings in SI-BONE were worth $1,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in SIBN. Harbor Capital Advisors Inc. grew its holdings in SI-BONE by 222.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 620,490 shares of the company’s stock valued at $8,674,000 after buying an additional 428,110 shares in the last quarter. Impax Asset Management Group plc grew its holdings in shares of SI-BONE by 41.3% in the third quarter. Impax Asset Management Group plc now owns 758,521 shares of the company’s stock valued at $10,604,000 after purchasing an additional 221,604 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of SI-BONE by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 315,092 shares of the company’s stock valued at $4,405,000 after purchasing an additional 5,966 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in shares of SI-BONE by 14.7% in the third quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock valued at $39,145,000 after purchasing an additional 358,821 shares in the last quarter. Finally, Millrace Asset Group Inc. purchased a new position in shares of SI-BONE in the third quarter valued at $1,056,000. 98.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Anthony J. Recupero sold 3,670 shares of SI-BONE stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total transaction of $51,013.00. Following the completion of the sale, the insider now directly owns 222,814 shares in the company, valued at approximately $3,097,114.60. This trade represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anshul Maheshwari sold 5,304 shares of SI-BONE stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total value of $73,778.64. Following the sale, the chief financial officer now owns 189,319 shares of the company’s stock, valued at approximately $2,633,427.29. This trade represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,311 shares of company stock worth $130,356 over the last three months. 3.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SIBN shares. Truist Financial reissued a “buy” rating and issued a $22.00 target price (up from $18.00) on shares of SI-BONE in a report on Tuesday. Needham & Company LLC raised their target price on shares of SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 target price on shares of SI-BONE in a report on Tuesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $24.50.

SI-BONE Stock Down 1.9 %

Shares of SIBN opened at $17.81 on Friday. The company has a market cap of $746.92 million, a PE ratio of -19.36 and a beta of 1.17. The business has a fifty day moving average of $16.01 and a 200 day moving average of $14.76. SI-BONE, Inc. has a 52-week low of $11.70 and a 52-week high of $19.16. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. The company had revenue of $49.00 million during the quarter, compared to the consensus estimate of $48.87 million. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. On average, sell-side analysts expect that SI-BONE, Inc. will post -0.78 EPS for the current year.

About SI-BONE

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.