SI-Bone Inc (NASDAQ:SIBN) Stake Lifted by Nine Ten Capital Management LLC

Nine Ten Capital Management LLC boosted its position in shares of SI-Bone Inc (NASDAQ:SIBN) by 250.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 173,265 shares of the company’s stock after buying an additional 123,820 shares during the period. SI-Bone comprises about 1.0% of Nine Ten Capital Management LLC’s investment portfolio, making the stock its 9th largest holding. Nine Ten Capital Management LLC’s holdings in SI-Bone were worth $3,524,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in SI-Bone during the 2nd quarter worth $28,000. Private Ocean LLC purchased a new position in SI-Bone during the 2nd quarter worth $131,000. Deutsche Bank AG purchased a new position in SI-Bone during the 4th quarter worth $227,000. Panagora Asset Management Inc. increased its holdings in SI-Bone by 107.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 33,441 shares of the company’s stock worth $680,000 after purchasing an additional 17,284 shares during the period. Finally, Granite Investment Partners LLC purchased a new position in SI-Bone during the 1st quarter worth $851,000. Institutional investors own 45.49% of the company’s stock.

NASDAQ SIBN traded up $0.11 during midday trading on Thursday, hitting $19.91. 10,944 shares of the company traded hands, compared to its average volume of 109,272. The company has a debt-to-equity ratio of 0.50, a current ratio of 12.00 and a quick ratio of 11.55. The company has a market cap of $472.36 million and a PE ratio of -28.00. The company’s 50-day simple moving average is $19.00 and its 200-day simple moving average is $18.20. SI-Bone Inc has a 52 week low of $14.08 and a 52 week high of $23.03.



SI-Bone (NASDAQ:SIBN) last announced its earnings results on Tuesday, August 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.05. The business had revenue of $16.32 million for the quarter. SI-Bone had a negative return on equity of 84.84% and a negative net margin of 46.59%. On average, research analysts predict that SI-Bone Inc will post -1.31 earnings per share for the current year.

SIBN has been the topic of several recent research reports. ValuEngine raised SI-Bone from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research raised SI-Bone from a “sell” rating to a “hold” rating in a research report on Saturday, July 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $24.75.

In other news, CFO Laura Francis sold 2,518 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $17.92, for a total value of $45,122.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO W Carlton Reckling sold 15,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $20.00, for a total value of $300,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 786,084 shares of company stock worth $14,704,233 in the last ninety days. Insiders own 38.80% of the company’s stock.

About SI-Bone

SI-BONE, Inc, a medical device company, develops and commercializes a proprietary minimally invasive surgical implant system in the United States and Internationally. It offers iFuse, an implant system to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that causes lower back pain. The company was founded in 2008 and is headquartered in Santa Clara, California.

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Institutional Ownership by Quarter for SI-Bone (NASDAQ:SIBN)

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