Russell Investments Group Ltd. Raises Stake in SiBone $SIBN

Key Points

• Russell Investments Group Ltd. significantly increased its stake in SiBone by 765.3%, holding 201,758 shares valued at $2.83 million by the end of the 1st quarter.
• SiBone reported a quarterly revenue of $48.63 million with an EPS of ($0.14), surpassing analysts' estimates.
• Currently, SiBone holds a market capitalization of $707.06 million and has received a mix of analyst ratings, with a consensus rating of "Buy" and a target price of $23.67.

Russell Investments Group Ltd. grew its stake in shares of SiBone (NASDAQ:SIBN - Free Report) by 765.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 201,758 shares of the company's stock after purchasing an additional 178,442 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.47% of SiBone worth $2,831,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SIBN. Nuveen LLC acquired a new stake in SiBone during the first quarter worth approximately $18,605,000. Silvercrest Asset Management Group LLC raised its holdings in SiBone by 21.9% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,953,806 shares of the company's stock worth $27,392,000 after purchasing an additional 350,970 shares in the last quarter. Victory Capital Management Inc. raised its holdings in SiBone by 55.0% during the first quarter. Victory Capital Management Inc. now owns 631,568 shares of the company's stock worth $8,861,000 after purchasing an additional 224,190 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in SiBone by 17.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,263,988 shares of the company's stock worth $17,721,000 after purchasing an additional 190,830 shares in the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in SiBone during the first quarter worth approximately $2,364,000. Institutional investors and hedge funds own 98.11% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on SIBN. Cantor Fitzgerald set a $25.00 price objective on shares of SiBone and gave the stock an "overweight" rating in a report on Monday, August 11th. Needham & Company LLC reaffirmed a "buy" rating and issued a $24.00 target price on shares of SiBone in a report on Tuesday, May 6th. Wall Street Zen cut shares of SiBone from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Truist Financial lifted their target price on shares of SiBone from $20.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $23.67.

Insiders Place Their Bets

In other SiBone news, Director John Gordon Freund sold 12,132 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $15.99, for a total transaction of $193,990.68. Following the sale, the director directly owned 91,767 shares in the company, valued at approximately $1,467,354.33. The trade was a 11.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael A. Pisetsky sold 3,329 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $15.64, for a total transaction of $52,065.56. Following the sale, the senior vice president owned 258,352 shares in the company, valued at $4,040,625.28. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,967 shares of company stock valued at $829,469. Corporate insiders own 4.00% of the company's stock.

SiBone Stock Performance

SIBN traded up $0.03 during trading on Thursday, hitting $16.62. The stock had a trading volume of 250,633 shares, compared to its average volume of 427,604. The company has a debt-to-equity ratio of 0.21, a quick ratio of 7.00 and a current ratio of 8.38. The firm has a market capitalization of $717.00 million, a P/E ratio of -29.68 and a beta of 0.91. The company's 50-day moving average price is $17.01 and its 200 day moving average price is $16.51. SiBone has a twelve month low of $11.70 and a twelve month high of $20.05.

SiBone (NASDAQ:SIBN - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. The business had revenue of $48.63 million for the quarter, compared to the consensus estimate of $48.12 million. SiBone had a negative net margin of 12.83% and a negative return on equity of 14.20%. SiBone has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that SiBone will post -0.78 EPS for the current fiscal year.

SiBone 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.