Mainstream Capital Management LLC Invests $53,000 in SI-BONE, Inc. (NASDAQ:SIBN)

Mainstream Capital Management LLC purchased a new stake in SI-BONE, Inc. (NASDAQ:SIBN) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 3,804 shares of the company’s stock, valued at approximately $53,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its holdings in SI-BONE by 103.6% in the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after buying an additional 1,198 shares in the last quarter. Rhumbline Advisers boosted its position in shares of SI-BONE by 3.0% during the 4th quarter. Rhumbline Advisers now owns 57,621 shares of the company’s stock valued at $808,000 after acquiring an additional 1,683 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of SI-BONE by 9.4% in the third quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock valued at $265,000 after purchasing an additional 1,745 shares during the period. R Squared Ltd acquired a new stake in SI-BONE during the fourth quarter worth about $73,000. Finally, Legato Capital Management LLC increased its position in SI-BONE by 9.1% during the fourth quarter. Legato Capital Management LLC now owns 62,707 shares of the company’s stock worth $879,000 after purchasing an additional 5,209 shares during the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

SI-BONE Stock Performance

Shares of SIBN stock opened at $17.57 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. The firm has a market cap of $745.90 million, a P/E ratio of -19.10 and a beta of 1.17. The firm’s 50 day moving average price is $16.19 and its 200-day moving average price is $14.83. SI-BONE, Inc. has a one year low of $11.70 and a one year high of $19.16.

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

Insider Buying and Selling

In other SI-BONE news, insider Anthony J. Recupero sold 3,670 shares of the business’s stock in a transaction 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 transaction, the insider now owns 222,814 shares in the company, valued at $3,097,114.60. The trade was a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Anshul Maheshwari sold 5,304 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total value of $73,778.64. Following the completion of the sale, the chief financial officer now owns 189,319 shares in the company, valued at approximately $2,633,427.29. The trade was a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,311 shares of company stock valued at $130,356. Corporate insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SIBN. Truist Financial reissued a “buy” rating and issued a $22.00 price target (up previously from $18.00) on shares of SI-BONE in a research note on Tuesday, February 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price objective on shares of SI-BONE in a report on Tuesday, February 25th. Finally, Needham & Company LLC raised their target price on SI-BONE from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $24.50.

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.