Jane Street Group LLC Reduces Holdings in Paragon 28, Inc. (NYSE:FNA)

Jane Street Group LLC decreased its position in Paragon 28, Inc. (NYSE:FNA) by 52.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,392 shares of the company’s stock after selling 31,516 shares during the quarter. Jane Street Group LLC’s holdings in Paragon 28 were worth $190,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Millennium Management LLC lifted its position in Paragon 28 by 5,834.0% in the second quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock valued at $4,962,000 after acquiring an additional 713,263 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Paragon 28 during the third quarter worth about $386,000. First Light Asset Management LLC boosted its position 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. Thrivent Financial for Lutherans grew its position in shares of Paragon 28 by 15.4% in the second quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company’s stock valued at $6,986,000 after purchasing an additional 135,911 shares during the last quarter. Finally, State Street Corp increased its position in Paragon 28 by 2.6% during the 3rd quarter. State Street Corp now owns 1,563,331 shares of the company’s stock worth $10,443,000 after purchasing an additional 39,075 shares in the last quarter. Institutional investors and hedge funds own 63.57% of the company’s stock.

Paragon 28 Price Performance

Shares of NYSE FNA opened at $10.40 on Monday. The business has a 50 day simple moving average of $9.80 and a 200-day simple moving average of $7.99. Paragon 28, Inc. has a twelve month low of $4.65 and a twelve month high of $14.79. The company has a market capitalization of $870.69 million, a price-to-earnings ratio of -14.05 and a beta of 1.50. The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79.

Paragon 28 (NYSE:FNA) last issued 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. The company had revenue of $62.30 million during the quarter, compared to the consensus estimate of $60.58 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. Paragon 28’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) earnings per share. As a group, equities research analysts expect that Paragon 28, Inc. will post -0.66 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on FNA. Needham & Company LLC increased their price objective on shares of Paragon 28 from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Canaccord Genuity Group dropped their target price on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, Stephens raised Paragon 28 to a “strong-buy” rating in a research report on Monday, December 2nd. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Paragon 28 currently has an average rating of “Buy” and an average price target of $15.60.

Insider Activity at Paragon 28

In other news, major shareholder Mvm Partners, Llc sold 4,256 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $10.00, for a total value of $42,560.00. Following the completion of the sale, the insider now directly owns 10,499,960 shares of the company’s stock, valued at approximately $104,999,600. This represents a 0.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 252,914 shares of company stock worth $2,585,514 in the last ninety days. 15.32% of the stock is owned by insiders.

Paragon 28 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.