Paragon 28, Inc. (NYSE:FNA) Major Shareholder Sells $13,617,606.80 in Stock

Paragon 28, Inc. (NYSE:FNA) major shareholder Mvm Partners, Llc sold 1,044,295 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $13.04, for a total value of $13,617,606.80. Following the completion of the sale, the insider now owns 7,810,588 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases 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 transaction 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 transaction of $8,050,513.53.
• On Monday, January 27th, Mvm Partners, Llc sold 27,142 shares of Paragon 28 stock. The stock was sold at an average price of $11.62, for a total transaction of $315,390.04.
• On Thursday, January 23rd, Mvm Partners, Llc sold 20,136 shares of Paragon 28 stock. The shares were sold at an average price of $11.63, for a total value of $234,181.68.

Paragon 28 Stock Performance

FNA opened at $13.03 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60. The business has a fifty day simple moving average of $12.32 and a 200 day simple moving average of $9.51. Paragon 28, Inc. has a 1 year low of $4.65 and a 1 year high of $13.13. The company has a market capitalization of $1.09 billion, a PE ratio of -17.60 and a beta of 1.54.

Paragon 28 (NYSE:FNA) last announced its earnings results on Thursday, March 6th. The company reported ($0.13) earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $70.81 million. Research analysts expect that Paragon 28, Inc. will post -0.64 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FNA. Stephens reiterated an “equal weight” rating and set a $13.00 price objective (down previously from $14.00) on shares of Paragon 28 in a research note on Thursday, January 30th. William Blair lowered shares of Paragon 28 from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Canaccord Genuity Group set a $13.00 price target on Paragon 28 in a report on Wednesday, January 29th. Finally, Needham & Company LLC restated a “hold” rating and issued a $13.00 price objective on shares of Paragon 28 in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.20.

Institutional Investors Weigh In On Paragon 28

Institutional investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC bought a new stake in shares of Paragon 28 during the 4th quarter valued at $36,000. AlphaQuest LLC lifted its position in Paragon 28 by 33.6% during the fourth quarter. AlphaQuest LLC now owns 3,680 shares of the company’s stock worth $38,000 after purchasing an additional 925 shares during the period. State of Wyoming increased its holdings in Paragon 28 by 37.4% in the 4th quarter. State of Wyoming now owns 4,359 shares of the company’s stock valued at $45,000 after buying an additional 1,187 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Paragon 28 in the 4th quarter valued at approximately $94,000. Finally, Intech Investment Management LLC bought a new stake in shares of Paragon 28 during the 3rd quarter worth approximately $70,000. 63.57% of the stock is currently owned by institutional investors.

Paragon 28 Company 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.