Hussman Strategic Advisors Inc. Purchases Shares of 84,000 SiBone $SIBN

Key Points

• Hussman Strategic Advisors bought 84,000 shares of SiBone in Q4 valued at about $1.66 million, taking a roughly 0.19% stake in the company.
• Company insiders sold a total of 167,697 shares worth $2.55 million over the last three months (including the CFO and SVP), and insiders now hold about 4.0% of the stock.
• SiBone beat Q4 EPS estimates (reported -$0.04 vs. consensus -$0.13) on $56.35 million in revenue, and analysts have a consensus “Moderate Buy” rating with a $24 target price.

Hussman Strategic Advisors Inc. bought a new stake in SiBone (NASDAQ:SIBN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 84,000 shares of the company's stock, valued at approximately $1,656,000. Hussman Strategic Advisors Inc. owned 0.19% of SiBone at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in SiBone during the 3rd quarter worth $39,000. State of Wyoming purchased a new stake in SiBone during the 2nd quarter worth $55,000. Canada Pension Plan Investment Board purchased a new stake in SiBone during the 2nd quarter worth $68,000. Quarry LP boosted its position in SiBone by 862.6% during the 3rd quarter. Quarry LP now owns 4,861 shares of the company's stock worth $72,000 after purchasing an additional 4,356 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in SiBone by 198.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,897 shares of the company's stock worth $92,000 after purchasing an additional 3,258 shares during the period. Hedge funds and other institutional investors own 98.11% of the company's stock.

Insider Activity

In related news, CFO Anshul Maheshwari sold 3,318 shares of SiBone stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $12.87, for a total transaction of $42,702.66. Following the sale, the chief financial officer owned 263,148 shares of the company's stock, valued at $3,386,714.76. The trade was a 1.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael A. Pisetsky sold 20,756 shares of SiBone stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $15.35, for a total transaction of $318,604.60. Following the sale, the senior vice president directly owned 285,974 shares in the company, valued at $4,389,700.90. This trade represents a 6.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 167,697 shares of company stock worth $2,551,086 over the last three months. 4.00% of the stock is currently owned by corporate insiders.

SiBone Stock Performance

SiBone stock opened at $13.21 on Friday. SiBone has a 12-month low of $11.80 and a 12-month high of $21.89. The company has a market capitalization of $584.41 million, a price-to-earnings ratio of -30.02 and a beta of 0.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 8.55 and a quick ratio of 7.21. The firm's fifty day moving average price is $13.70 and its 200 day moving average price is $16.23.

SiBone (NASDAQ:SIBN - Get Free Report) last released its quarterly earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.09. SiBone had a negative net margin of 9.41% and a negative return on equity of 11.01%. The firm had revenue of $56.35 million for the quarter, compared to the consensus estimate of $56.26 million. On average, research analysts forecast that SiBone will post -0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SIBN has been the subject of a number of research reports. Wall Street Zen cut shares of SiBone from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. TD Cowen upped their price target on shares of SiBone from $21.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday, February 24th. Finally, Truist Financial decreased their price target on shares of SiBone from $24.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday, April 15th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

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.

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