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

VELA Investment Management LLC boosted its holdings in SI-BONE, Inc. (NASDAQ:SIBN) by 23.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 122,671 shares of the company’s stock after buying an additional 23,592 shares during the quarter. VELA Investment Management LLC owned 0.29% of SI-BONE worth $1,720,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Jane Street Group LLC raised its position in SI-BONE by 29.0% in the 3rd quarter. Jane Street Group LLC now owns 77,359 shares of the company’s stock worth $1,081,000 after buying an additional 17,410 shares during the last quarter. Millrace Asset Group Inc. purchased a new position in SI-BONE in the 3rd quarter worth about $1,056,000. Champlain Investment Partners LLC raised its position in SI-BONE by 14.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock worth $39,145,000 after buying an additional 358,821 shares during the last quarter. Impax Asset Management Group plc raised its position in SI-BONE by 41.3% in the 3rd quarter. Impax Asset Management Group plc now owns 758,521 shares of the company’s stock worth $10,604,000 after buying an additional 221,604 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in SI-BONE by 9.4% in the 3rd quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock worth $265,000 after buying an additional 1,745 shares during the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

SI-BONE Price Performance

NASDAQ SIBN opened at $17.81 on Friday. SI-BONE, Inc. has a 52 week low of $11.70 and a 52 week high of $19.16. The firm has a market capitalization of $746.92 million, a P/E ratio of -19.36 and a beta of 1.17. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $16.01 and a 200-day moving average price of $14.76.

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

Insider Buying and Selling

In related news, insider Anthony J. Recupero sold 3,670 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $13.90, for a total value of $51,013.00. Following the completion of the sale, the insider now directly owns 222,814 shares of the company’s stock, valued at approximately $3,097,114.60. This represents a 1.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Anshul Maheshwari sold 5,304 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total transaction of $73,778.64. Following the sale, the chief financial officer now directly 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. In the last ninety days, insiders sold 9,311 shares of company stock valued at $130,356. 3.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.