Paragon 28, Inc. (NYSE:FNA) Major Shareholder Sells $732,871.28 in Stock

Paragon 28, Inc. (NYSE:FNA) major shareholder Mvm Partners, Llc sold 72,133 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $10.16, for a total transaction of $732,871.28. Following the completion of the transaction, the insider now owns 10,559,065 shares in the company, valued at approximately $107,280,100.40. The trade was a 0.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Mvm Partners, Llc also recently made the following trade(s):

• On Monday, November 25th, Mvm Partners, Llc sold 10,835 shares of Paragon 28 stock. The stock was sold at an average price of $10.09, for a total transaction of $109,325.15.
• On Wednesday, November 20th, Mvm Partners, Llc sold 147,581 shares of Paragon 28 stock. The shares were sold at an average price of $10.28, for a total value of $1,517,132.68.

Paragon 28 Trading Up 1.2 %

Shares of FNA stock opened at $9.98 on Wednesday. The firm has a market capitalization of $835.53 million, a PE ratio of -13.49 and a beta of 1.01. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50. Paragon 28, Inc. has a 1 year low of $4.65 and a 1 year high of $14.79. The stock has a fifty day moving average of $6.83 and a two-hundred day moving average of $7.24.

Paragon 28 (NYSE:FNA) last announced its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The firm had revenue of $62.30 million during the quarter, compared to analyst estimates of $60.58 million. During the same quarter in the prior year, the firm posted ($0.10) EPS. Paragon 28’s revenue was up 18.0% compared to the same quarter last year. As a group, research analysts expect that Paragon 28, Inc. will post -0.66 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FNA. Janus Henderson Group PLC boosted its stake in Paragon 28 by 29.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock valued at $14,818,000 after purchasing an additional 273,077 shares in the last quarter. Millennium Management LLC grew its holdings in Paragon 28 by 5,834.0% during the second quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock worth $4,962,000 after acquiring an additional 713,263 shares during the period. GSA Capital Partners LLP acquired a new stake in Paragon 28 in the 3rd quarter valued at about $386,000. First Light Asset Management LLC boosted its position in shares of Paragon 28 by 115.0% during the 2nd quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company’s stock valued at $55,916,000 after purchasing an additional 4,371,864 shares in the last quarter. Finally, Peregrine Capital Management LLC acquired a new position in shares of Paragon 28 in the 2nd quarter worth approximately $3,351,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FNA shares. Needham & Company LLC boosted their price objective on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group lowered their price target on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $12.00 price objective (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Paragon 28 has a consensus rating of “Buy” and a consensus target price of $15.60.

About Paragon 28

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.