Divisadero Street Capital Management LP Makes New $464,000 Investment in MiMedx Group, Inc. (NASDAQ:MDXG)

Divisadero Street Capital Management LP bought a new stake in MiMedx Group, Inc. (NASDAQ:MDXG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 48,220 shares of the company's stock, valued at approximately $464,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MDXG. Invesco Ltd. increased its stake in MiMedx Group by 2.2% during the fourth quarter. Invesco Ltd. now owns 56,565 shares of the company's stock valued at $544,000 after purchasing an additional 1,226 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of MiMedx Group by 77.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,501 shares of the company's stock worth $63,000 after purchasing an additional 2,837 shares during the period. IMG Wealth Management Inc. bought a new stake in shares of MiMedx Group in the 4th quarter worth approximately $28,000. Principal Financial Group Inc. boosted its position in MiMedx Group by 6.3% during the 3rd quarter. Principal Financial Group Inc. now owns 55,495 shares of the company's stock valued at $328,000 after purchasing an additional 3,292 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of MiMedx Group by 0.7% during the fourth quarter. Bank of New York Mellon Corp now owns 504,007 shares of the company's stock worth $4,849,000 after acquiring an additional 3,300 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO William Frank Iv Hulse sold 81,446 shares of MiMedx Group stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $7.80, for a total transaction of $635,278.80. Following the sale, the chief accounting officer now owns 494,774 shares of the company's stock, valued at approximately $3,859,237.20. This trade represents a 14.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph H. Capper bought 200,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average price of $6.34 per share, with a total value of $1,268,000.00. Following the completion of the purchase, the chief executive officer now directly owns 529,530 shares of the company's stock, valued at $3,357,220.20. This represents a 60.69 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 144,018 shares of company stock valued at $1,130,312 over the last ninety days. Corporate insiders own 1.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of MiMedx Group from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 1st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $13.00 target price on shares of MiMedx Group in a research report on Thursday, February 27th.

MiMedx Group Price Performance

Shares of NASDAQ:MDXG opened at $6.61 on Wednesday. The company has a market cap of $976.31 million, a P/E ratio of 12.02 and a beta of 1.85. The company's fifty day moving average is $7.34 and its two-hundred day moving average is $8.10. The company has a quick ratio of 3.53, a current ratio of 4.10 and a debt-to-equity ratio of 0.10. MiMedx Group, Inc. has a 12-month low of $5.47 and a 12-month high of $10.14.

MiMedx Group (NASDAQ:MDXG - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. MiMedx Group had a return on equity of 26.21% and a net margin of 23.86%. The company had revenue of $88.21 million for the quarter, compared to analysts' expectations of $86.32 million. Equities analysts expect that MiMedx Group, Inc. will post 0.3 earnings per share for the current fiscal year.

MiMedx Group Company Profile

MiMedx Group, Inc develops and distributes placental tissue allografts for various sectors of healthcare. It processes the human placental tissues utilizing its patented and proprietary PURION process to produce allografts that retains the tissue's inherent biological properties and regulatory proteins.

Want to see what other hedge funds are holding MDXG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MiMedx Group, Inc. (NASDAQ:MDXG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.