Hilton Head Capital Partners LLC Invests $750,000 in SiBone $SIBN

Hilton Head Capital Partners LLC acquired a new position in shares of SiBone (NASDAQ:SIBN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 38,019 shares of the company’s stock, valued at approximately $750,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SIBN. American Century Companies Inc. increased its holdings in shares of SiBone by 22.5% during the 3rd quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock worth $41,777,000 after purchasing an additional 521,683 shares during the period. Wellington Management Group LLP boosted its position in shares of SiBone by 74.7% during the 3rd quarter. Wellington Management Group LLP now owns 853,266 shares of the company’s stock valued at $12,560,000 after acquiring an additional 364,897 shares in the last quarter. Impax Asset Management Group plc boosted its position in shares of SiBone by 48.2% during the 3rd quarter. Impax Asset Management Group plc now owns 1,025,010 shares of the company’s stock valued at $15,088,000 after acquiring an additional 333,249 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of SiBone during the 2nd quarter valued at about $4,079,000. Finally, Algert Global LLC boosted its position in shares of SiBone by 104.5% during the 3rd quarter. Algert Global LLC now owns 415,194 shares of the company’s stock valued at $6,112,000 after acquiring an additional 212,175 shares in the last quarter. Institutional investors own 98.11% of the company’s stock.

Insider Transactions at SiBone

In other SiBone news, CEO Laura Francis sold 14,957 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $14.71, for a total value of $220,017.47. Following the transaction, the chief executive officer directly owned 503,444 shares in the company, valued at $7,405,661.24. The trade was a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Michael A. Pisetsky sold 3,726 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $14.63, for a total transaction of $54,511.38. Following the transaction, the senior vice president owned 280,509 shares in the company, valued at $4,103,846.67. The trade was a 1.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 36,852 shares of company stock valued at $523,018. 4.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SIBN shares. TD Cowen decreased their target price on shares of SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Truist Financial reiterated a “buy” rating and set a $18.00 target price (down from $20.00) on shares of SiBone in a research report on Tuesday, May 12th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, SiBone currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

SiBone Price Performance

NASDAQ:SIBN opened at $15.12 on Monday. The firm has a market cap of $670.56 million, a PE ratio of -38.77 and a beta of 0.70. SiBone has a 12 month low of $11.48 and a 12 month high of $21.89. The company has a quick ratio of 8.34, a current ratio of 9.99 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $13.68 and its two-hundred day moving average price is $15.94.

SiBone (NASDAQ:SIBN) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. The firm had revenue of $52.59 million for the quarter, compared to analyst estimates of $51.16 million. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. On average, equities analysts anticipate that SiBone will post -0.44 EPS for the current fiscal year.

SiBone Company Profile

Si-BONE, Inc is a commercial‐stage medical device company focused on the design, development and commercialization of implant systems to treat degenerative conditions of the sacroiliac (SI) joint. Its flagship product, the iFuse Implant System, consists of triangular titanium implants that are inserted via a minimally invasive surgical procedure to stabilize the SI joint and alleviate chronic lower back and buttock pain.

FDA‐cleared in 2012, the iFuse portfolio has expanded to include the iFuse-3D and iFuse-3Di devices, which feature a porous, 3D-printed surface to promote bone ongrowth and biological fixation.