Paragon 28, Inc. (NYSE:FNA) Major Shareholder Mvm Partners, Llc Sells 1,044,295 Shares

Paragon 28, Inc. (NYSE:FNA) major shareholder Mvm Partners, Llc sold 1,044,295 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $13.04, for a total transaction of $13,617,606.80. Following the transaction, the insider now directly owns 7,810,588 shares of the company’s stock, valued at approximately $101,850,067.52. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Mvm Partners, Llc also recently made the following trade(s):

• On Thursday, March 6th, Mvm Partners, Llc sold 164,664 shares of Paragon 28 stock. The shares were sold at an average price of $13.01, for a total value of $2,142,278.64.
• On Tuesday, March 4th, Mvm Partners, Llc sold 619,747 shares of Paragon 28 stock. The stock was sold at an average price of $12.99, for a total value of $8,050,513.53.
• On Monday, January 27th, Mvm Partners, Llc sold 27,142 shares of Paragon 28 stock. The shares were sold at an average price of $11.62, for a total value of $315,390.04.
• On Thursday, January 23rd, Mvm Partners, Llc sold 20,136 shares of Paragon 28 stock. The stock was sold at an average price of $11.63, for a total value of $234,181.68.

Paragon 28 Stock Down 0.3 %

Shares of Paragon 28 stock opened at $13.03 on Friday. Paragon 28, Inc. has a 1 year low of $4.65 and a 1 year high of $13.13. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -17.60 and a beta of 1.54. The company has a 50-day moving average of $12.28 and a 200 day moving average of $9.47. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60.

Paragon 28 (NYSE:FNA) last announced its earnings results on Thursday, March 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) 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 $71.75 million for the quarter, compared to the consensus estimate of $70.81 million. As a group, sell-side analysts anticipate that Paragon 28, Inc. will post -0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC increased its holdings in shares of Paragon 28 by 4.2% during the fourth quarter. First Light Asset Management LLC now owns 10,580,467 shares of the company’s stock valued at $109,296,000 after acquiring an additional 425,824 shares in the last quarter. Vanguard Group Inc. grew its position in Paragon 28 by 17.9% during the 4th quarter. Vanguard Group Inc. now owns 2,809,109 shares of the company’s stock valued at $29,018,000 after purchasing an additional 425,983 shares during the last quarter. State Street Corp increased its stake in Paragon 28 by 2.6% during the 3rd quarter. State Street Corp now owns 1,563,331 shares of the company’s stock valued at $10,443,000 after purchasing an additional 39,075 shares in the last quarter. Geode Capital Management LLC raised its holdings in Paragon 28 by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 978,832 shares of the company’s stock worth $10,113,000 after buying an additional 11,313 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Paragon 28 by 3.0% in the fourth quarter. JPMorgan Chase & Co. now owns 808,611 shares of the company’s stock worth $8,353,000 after buying an additional 23,733 shares in the last quarter. Hedge funds and other institutional investors own 63.57% of the company’s stock.

Wall Street Analyst Weigh In

FNA has been the subject of several research reports. Needham & Company LLC restated a “hold” rating and issued a $13.00 price objective on shares of Paragon 28 in a report on Wednesday, January 29th. Stephens reiterated an “equal weight” rating and set a $13.00 price target (down previously from $14.00) on shares of Paragon 28 in a research report on Thursday, January 30th. William Blair lowered shares of Paragon 28 from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Finally, Canaccord Genuity Group set a $13.00 target price on Paragon 28 in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Paragon 28 currently has a consensus rating of “Hold” and an average price target of $14.20.

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.