Insider Selling: Paragon 28, Inc. (NYSE:FNA) Major Shareholder Sells 10,835 Shares of Stock

Paragon 28, Inc. (NYSE:FNA) major shareholder Mvm Partners, Llc sold 10,835 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $10.09, for a total transaction of $109,325.15. Following the transaction, the insider now owns 10,548,230 shares of the company’s stock, valued at approximately $106,431,640.70. This trade represents a 0.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, November 22nd, Mvm Partners, Llc sold 72,133 shares of Paragon 28 stock. The shares were sold at an average price of $10.16, for a total value of $732,871.28.
• On Wednesday, November 20th, Mvm Partners, Llc sold 147,581 shares of Paragon 28 stock. The stock was sold at an average price of $10.28, for a total value of $1,517,132.68.

Paragon 28 Stock Performance

NYSE:FNA opened at $9.99 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50. The stock has a market capitalization of $836.36 million, a P/E ratio of -13.50 and a beta of 1.01. The company has a 50 day moving average price of $6.89 and a 200 day moving average price of $7.26. Paragon 28, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $14.79.

Paragon 28 (NYSE:FNA) last released 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 return on equity of 37.90% and a negative net margin of 25.31%. The firm had revenue of $62.30 million during the quarter, compared to analyst estimates of $60.58 million. During the same period last year, the business posted ($0.10) earnings per share. Paragon 28’s revenue was up 18.0% compared to the same quarter last year. Equities research analysts forecast that Paragon 28, Inc. will post -0.66 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Paragon 28

Institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC raised its stake in Paragon 28 by 29.5% in the first quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock valued at $14,818,000 after buying an additional 273,077 shares in the last quarter. Millennium Management LLC lifted its stake 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 purchasing an additional 713,263 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Paragon 28 in the third quarter valued at approximately $386,000. First Light Asset Management LLC raised its holdings in Paragon 28 by 115.0% during the second quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company’s stock worth $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 valued at $3,351,000. 63.57% of the stock is owned by hedge funds and other institutional investors.

Paragon 28 Company Profile

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.