Silvercrest Asset Management Group LLC Acquires 350,970 Shares of SI-BONE, Inc. (NASDAQ:SIBN)

Silvercrest Asset Management Group LLC lifted its holdings in shares of SI-BONE, Inc. (NASDAQ:SIBN) by 21.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,953,806 shares of the company’s stock after acquiring an additional 350,970 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in SI-BONE were worth $27,392,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. raised its holdings in shares of SI-BONE by 11.0% during the fourth quarter. American Century Companies Inc. now owns 2,378,068 shares of the company’s stock valued at $33,341,000 after acquiring an additional 236,167 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of SI-BONE by 17.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,263,988 shares of the company’s stock valued at $17,721,000 after acquiring an additional 190,830 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of SI-BONE by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 933,891 shares of the company’s stock valued at $13,097,000 after acquiring an additional 9,847 shares in the last quarter. Impax Asset Management Group plc raised its holdings in shares of SI-BONE by 1.1% during the fourth quarter. Impax Asset Management Group plc now owns 766,761 shares of the company’s stock valued at $10,750,000 after acquiring an additional 8,240 shares in the last quarter. Finally, Pier Capital LLC raised its holdings in shares of SI-BONE by 1.6% during the fourth quarter. Pier Capital LLC now owns 473,123 shares of the company’s stock valued at $6,633,000 after acquiring an additional 7,225 shares in the last quarter. Institutional investors own 98.11% of the company’s stock.

SI-BONE Price Performance

Shares of SIBN stock opened at $19.79 on Friday. The stock has a market cap of $843.35 million, a price-to-earnings ratio of -21.51 and a beta of 0.82. The business’s fifty day moving average is $14.83 and its 200 day moving average is $15.02. SI-BONE, Inc. has a twelve month low of $11.70 and a twelve month high of $20.05. 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, May 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.09. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. The company had revenue of $47.29 million for the quarter, compared to analysts’ expectations of $45.13 million. Research analysts expect that SI-BONE, Inc. will post -0.78 EPS for the current fiscal year.

Insider Activity

In other news, insider Anthony J. Recupero sold 3,311 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $14.15, for a total transaction of $46,850.65. Following the completion of the transaction, the insider now directly owns 284,555 shares in the company, valued at $4,026,453.25. This trade represents a 1.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Pisetsky sold 3,128 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $14.14, for a total value of $44,229.92. Following the transaction, the senior vice president now owns 244,878 shares of the company’s stock, valued at $3,462,574.92. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,153 shares of company stock worth $935,040 over the last three months. 4.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SIBN has been the subject of a number of recent analyst reports. Truist Financial upped their target price on SI-BONE from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 price target on shares of SI-BONE in a research note on Tuesday, May 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 price target on shares of SI-BONE in a research note on Tuesday, May 6th.

SI-BONE Profile

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.