Mach 1 Financial Group LLC Takes $493,000 Position in SI-BONE, Inc. (NASDAQ:SIBN)

Mach 1 Financial Group LLC bought a new stake in SI-BONE, Inc. (NASDAQ:SIBN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 23,492 shares of the company’s stock, valued at approximately $493,000. Mach 1 Financial Group LLC owned 0.06% of SI-BONE as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brown Advisory Inc. grew its stake in SI-BONE by 1.1% during the 3rd quarter. Brown Advisory Inc. now owns 3,993,614 shares of the company’s stock valued at $84,824,000 after acquiring an additional 41,731 shares in the last quarter. Vanguard Group Inc. lifted its position in SI-BONE by 7.2% during the third quarter. Vanguard Group Inc. now owns 2,308,516 shares of the company’s stock worth $49,033,000 after buying an additional 155,121 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in SI-BONE by 2.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 678,360 shares of the company’s stock worth $14,408,000 after buying an additional 17,449 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of SI-BONE by 5.4% in the 3rd quarter. Wellington Management Group LLP now owns 605,839 shares of the company’s stock worth $12,868,000 after acquiring an additional 31,051 shares during the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of SI-BONE by 35.7% during the 3rd quarter. Impax Asset Management Group plc now owns 475,343 shares of the company’s stock worth $10,096,000 after acquiring an additional 125,000 shares during the period. Institutional investors and hedge funds own 98.11% of the company’s stock.

Analyst Upgrades and Downgrades

SIBN has been the topic of several recent research reports. Piper Sandler initiated coverage on shares of SI-BONE in a research report on Thursday, March 28th. They set an “overweight” rating and a $25.00 price target on the stock. Truist Financial reissued a “buy” rating and set a $24.00 price target (down previously from $26.00) on shares of SI-BONE in a research report on Tuesday, February 27th. Morgan Stanley upped their target price on shares of SI-BONE from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 target price on shares of SI-BONE in a research report on Tuesday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 target price on shares of SI-BONE in a research report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $26.67.

Insider Buying and Selling

In related news, CFO Anshul Maheshwari sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total transaction of $37,466.25. Following the sale, the chief financial officer now directly owns 205,516 shares in the company, valued at $3,175,222.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other SI-BONE news, insider Anthony J. Recupero sold 3,330 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $16.82, for a total value of $56,010.60. Following the transaction, the insider now directly owns 255,760 shares in the company, valued at $4,301,883.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anshul Maheshwari sold 2,425 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total transaction of $37,466.25. Following the completion of the transaction, the chief financial officer now owns 205,516 shares in the company, valued at $3,175,222.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,562 shares of company stock worth $185,285. Company insiders own 5.40% of the company’s stock.

SI-BONE Stock Performance

NASDAQ:SIBN traded down $0.03 on Wednesday, reaching $14.23. 28,467 shares of the company’s stock were exchanged, compared to its average volume of 427,438. The company has a quick ratio of 8.15, a current ratio of 9.01 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $16.47 and a 200-day moving average of $18.12. SI-BONE, Inc. has a 52-week low of $14.12 and a 52-week high of $29.51.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, February 26th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.02. SI-BONE had a negative net margin of 31.20% and a negative return on equity of 28.22%. The company had revenue of $38.86 million for the quarter, compared to analyst estimates of $38.60 million. Equities analysts predict that SI-BONE, Inc. will post -0.98 earnings per share for the current fiscal 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.