Insider Selling: Paragon 28, Inc. (NYSE:FNA) Major Shareholder Sells 1,044,295 Shares of Stock

Paragon 28, Inc. (NYSE:FNA) major shareholder Mvm Partners, Llc sold 1,044,295 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 7,810,588 shares in the company, valued at $101,850,067.52. This represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more 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 Thursday, March 6th, Mvm Partners, Llc sold 164,664 shares of Paragon 28 stock. The stock was 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 stock was sold at an average price of $11.63, for a total transaction of $234,181.68.

Paragon 28 Price Performance

Shares of Paragon 28 stock traded down $0.04 on Thursday, hitting $13.03. The company’s stock had a trading volume of 3,856,627 shares, compared to its average volume of 858,794. Paragon 28, Inc. has a 52-week low of $4.65 and a 52-week high of $13.13. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79. The firm has a fifty day moving average price of $12.28 and a 200-day moving average price of $9.47. The company has a market capitalization of $1.09 billion, a P/E ratio of -17.60 and a beta of 1.54.

Paragon 28 (NYSE:FNA) last released 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). The firm had revenue of $71.75 million during the quarter, compared to analysts’ expectations of $70.81 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. On average, equities research analysts expect that Paragon 28, Inc. will post -0.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC purchased a new position in Paragon 28 in the 4th quarter valued at about $36,000. AlphaQuest LLC lifted its holdings in Paragon 28 by 33.6% in the 4th quarter. AlphaQuest LLC now owns 3,680 shares of the company’s stock valued at $38,000 after purchasing an additional 925 shares in the last quarter. State of Wyoming lifted 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 purchasing an additional 1,187 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Paragon 28 during the 4th quarter worth about $94,000. Finally, Intech Investment Management LLC purchased a new position in shares of Paragon 28 during the 3rd quarter worth about $70,000. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

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.