Paragon 28, Inc. (NYSE:FNA) Major Shareholder Mvm Partners, Llc Sells 147,581 Shares

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

Paragon 28 Price Performance

Shares of FNA stock traded down $0.39 on Friday, reaching $10.04. The company’s stock had a trading volume of 862,267 shares, compared to its average volume of 613,874. The company has a market capitalization of $840.55 million, a P/E ratio of -14.09 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. The stock’s 50 day simple moving average is $6.66 and its 200-day simple moving average is $7.25. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79.

Paragon 28 (NYSE:FNA) last announced its quarterly earnings data 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 company had revenue of $62.30 million during the quarter, compared to analysts’ expectations of $60.58 million. During the same quarter in the prior year, the company earned ($0.10) EPS. The firm’s revenue was up 18.0% on a year-over-year basis. As a group, equities analysts predict that Paragon 28, Inc. will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paragon 28

Several institutional investors and hedge funds have recently bought and sold shares of FNA. Nisa Investment Advisors LLC boosted its stake in shares of Paragon 28 by 46,660.0% during the second quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock valued at $32,000 after purchasing an additional 4,666 shares during the period. Levin Capital Strategies L.P. bought a new stake in Paragon 28 in the second quarter valued at $68,000. Intech Investment Management LLC bought a new stake in shares of Paragon 28 in the 3rd quarter worth approximately $70,000. Ballentine Partners LLC purchased a new stake in Paragon 28 during the 3rd quarter valued at $91,000. Finally, Creative Planning purchased a new position in shares of Paragon 28 during the third quarter valued at approximately $91,000. 63.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FNA. Canaccord Genuity Group decreased their price target on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Needham & Company LLC upped their price target 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 reissued an “overweight” rating and issued a $12.00 price objective (down previously from $15.00) on shares of Paragon 28 in a research note on Friday, August 9th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently 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.