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 firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $10.09, for a total value of $109,325.15. Following the completion of the sale, the insider now directly owns 10,548,230 shares in the company, valued at approximately $106,431,640.70. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases 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 stock was 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 shares were sold at an average price of $10.28, for a total value of $1,517,132.68.

Paragon 28 Stock Performance

FNA traded up $0.12 during midday trading on Tuesday, reaching $9.98. The company’s stock had a trading volume of 651,587 shares, compared to its average volume of 615,094. Paragon 28, Inc. has a twelve month low of $4.65 and a twelve month high of $14.79. The stock has a market cap of $835.53 million, a P/E ratio of -13.49 and a beta of 1.01. The company has a fifty day simple moving average of $6.77 and a 200 day simple moving average of $7.22. 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 released its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $62.30 million for 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%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the business earned ($0.10) earnings per share. Research analysts expect that Paragon 28, Inc. will post -0.66 earnings per share for the current year.

Hedge Funds Weigh In On Paragon 28

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its position in shares of Paragon 28 by 46,660.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $32,000 after buying an additional 4,666 shares during the period. Levin Capital Strategies L.P. acquired a new stake in Paragon 28 in the 2nd quarter valued at about $68,000. Intech Investment Management LLC bought a new stake in shares of Paragon 28 during the 3rd quarter valued at $70,000. Ballentine Partners LLC acquired a new position in shares of Paragon 28 during the 3rd quarter worth about $91,000. Finally, Creative Planning bought a new stake in shares of Paragon 28 in the 3rd quarter valued at $91,000. 63.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on FNA. Needham & Company LLC lifted their target price on shares of Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. 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 research note on Wednesday, November 13th. Finally, Piper Sandler reissued an “overweight” rating and issued a $12.00 price target (down previously from $15.00) on shares of Paragon 28 in a research note on Friday, August 9th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently 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.