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

Paragon 28, Inc. (NYSE:FNA) major shareholder Mvm Partners, Llc sold 147,581 shares of Paragon 28 stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $10.28, for a total value of $1,517,132.68. Following the transaction, the insider now directly owns 10,738,564 shares in the company, valued at approximately $110,392,437.92. This trade represents a 1.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 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 opened at $10.04 on Friday. The company has a market capitalization of $840.55 million, a P/E ratio of -13.57 and a beta of 1.01. 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 has a 50 day moving average of $6.71 and a two-hundred day moving average of $7.25. 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 quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business posted ($0.10) earnings per share. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, equities analysts expect that Paragon 28, Inc. will post -0.66 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Needham & Company LLC boosted their price target on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Piper Sandler reiterated an “overweight” rating and issued a $12.00 target price (down from $15.00) on shares of Paragon 28 in a research note on Friday, August 9th. Finally, Canaccord Genuity Group lowered 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. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $15.60.

Institutional Trading of Paragon 28

Institutional investors have recently bought and sold shares of the stock. First Light Asset Management LLC raised its stake 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 acquiring an additional 4,371,864 shares in the last quarter. Millennium Management LLC increased its position in shares of Paragon 28 by 5,834.0% during the 2nd 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 in the last quarter. Peregrine Capital Management LLC bought a new position in Paragon 28 during the 2nd quarter valued at about $3,351,000. Janus Henderson Group PLC boosted its position 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. Finally, Thrivent Financial for Lutherans grew its stake in Paragon 28 by 15.4% during the second quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company’s stock worth $6,986,000 after buying an additional 135,911 shares during the last quarter. Institutional investors and hedge funds own 63.57% of the company’s stock.

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.