SeaSpine Holdings Corp (SPNE) Shares Sold by FNY Investment Advisers LLC

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FNY Investment Advisers LLC lessened its stake in SeaSpine Holdings Corp (NASDAQ:SPNE) by 71.3% in the third quarter, HoldingsChannel reports. The firm owned 20,300 shares of the medical equipment provider’s stock after selling 50,400 shares during the quarter. FNY Investment Advisers LLC’s holdings in SeaSpine were worth $315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers purchased a new position in shares of SeaSpine in the 2nd quarter valued at about $134,000. Northern Trust Corp increased its holdings in shares of SeaSpine by 35.3% in the 1st quarter. Northern Trust Corp now owns 35,512 shares of the medical equipment provider’s stock valued at $360,000 after purchasing an additional 9,271 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of SeaSpine by 261.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,185 shares of the medical equipment provider’s stock valued at $470,000 after purchasing an additional 26,895 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of SeaSpine by 99.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,267 shares of the medical equipment provider’s stock valued at $584,000 after purchasing an additional 23,090 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in shares of SeaSpine in the 2nd quarter valued at about $734,000. Institutional investors and hedge funds own 53.39% of the company’s stock.

In other SeaSpine news, Director John B. Henneman III sold 3,407 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $14.65, for a total transaction of $49,912.55. Following the sale, the director now directly owns 60,144 shares of the company’s stock, valued at approximately $881,109.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Henneman III sold 4,564 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $14.72, for a total transaction of $67,182.08. Following the sale, the director now directly owns 60,144 shares in the company, valued at $885,319.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,467 shares of company stock worth $726,039. 13.54% of the stock is owned by corporate insiders.

A number of brokerages recently commented on SPNE. Zacks Investment Research cut shares of SeaSpine from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of SeaSpine in a research note on Tuesday, July 31st. Piper Jaffray Companies increased their price objective on shares of SeaSpine from $16.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, October 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $22.00 price objective on shares of SeaSpine in a research note on Thursday, October 4th. Finally, BidaskClub raised shares of SeaSpine from a “hold” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $18.33.

Shares of NASDAQ SPNE opened at $17.04 on Tuesday. The stock has a market capitalization of $251.66 million, a P/E ratio of -6.60 and a beta of 0.46. SeaSpine Holdings Corp has a 52 week low of $8.76 and a 52 week high of $18.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.48 and a current ratio of 3.20.

SeaSpine (NASDAQ:SPNE) last issued its quarterly earnings data on Monday, July 30th. The medical equipment provider reported ($0.50) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.02). The business had revenue of $36.41 million during the quarter, compared to analyst estimates of $34.12 million. SeaSpine had a negative net margin of 21.75% and a negative return on equity of 27.65%. As a group, equities research analysts expect that SeaSpine Holdings Corp will post -1.95 earnings per share for the current year.

SeaSpine Company Profile

SeaSpine Holdings Corporation, a medical technology company, focuses on the design, development, and commercialization of surgical solutions for the treatment of spinal disorders in the United States and internationally. The company provides orthobiologics and spinal implant solutions for the neurosurgeons and orthopedic spine surgeons to perform fusion procedures in the lumbar, thoracic, and cervical regions of the spine.

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Institutional Ownership by Quarter for SeaSpine (NASDAQ:SPNE)

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