Insider Selling: Paragon 28, Inc. (NYSE:FNA) Major Shareholder Sells $1,517,132.68 in Stock

Paragon 28, Inc. (NYSE:FNA) major shareholder Mvm Partners, Llc sold 147,581 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $10.28, for a total value of $1,517,132.68. Following the completion of the sale, the insider now owns 10,738,564 shares in the company, valued at approximately $110,392,437.92. The trade was a 1.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Paragon 28 Stock Performance

Shares of Paragon 28 stock opened at $10.04 on Monday. The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79. The stock’s fifty day moving average price is $6.71 and its 200-day moving average price is $7.21. The firm has a market cap of $840.55 million, a P/E ratio of -13.57 and a beta of 1.01. Paragon 28, Inc. has a 12 month low of $4.65 and a 12 month high of $14.79.

Paragon 28 (NYSE:FNA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.15) 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 business had revenue of $62.30 million for the quarter, compared to the consensus estimate of $60.58 million. During the same quarter last year, the firm posted ($0.10) EPS. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities research analysts expect that Paragon 28, Inc. will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paragon 28

A number of large investors have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its position 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 acquiring an additional 273,077 shares in the last quarter. Millennium Management LLC boosted its position in Paragon 28 by 5,834.0% during the second quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock valued at $4,962,000 after purchasing an additional 713,263 shares in the last quarter. First Light Asset Management LLC grew its stake in Paragon 28 by 115.0% in the second 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 during the last quarter. Peregrine Capital Management LLC bought a new position in Paragon 28 in the second quarter worth about $3,351,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Paragon 28 during the third quarter valued at about $386,000. Institutional investors own 63.57% of the company’s stock.

Analyst Ratings Changes

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