Paragon 28, Inc. (NYSE:FNA) Short Interest Down 20.0% in February

by · The Cerbat Gem

Paragon 28, Inc. (NYSE:FNA – Get Free Report) was the target of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,440,000 shares, a decline of 20.0% from the February 13th total of 1,800,000 shares. Based on an average daily volume of 1,450,000 shares, the short-interest ratio is presently 1.0 days. Approximately 3.0% of the company’s shares are sold short.

Insider Buying and Selling

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 20,136 shares of Paragon 28 stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $11.63, for a total transaction of $234,181.68. Following the transaction, the insider now directly owns 10,366,009 shares in the company, valued at approximately $120,556,684.67. The trade was a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 1,875,984 shares of company stock valued at $24,359,971 over the last three months. Company insiders own 15.32% of the company’s stock.

Institutional Trading of Paragon 28

Several institutional investors and hedge funds have recently bought and sold shares of the stock. First Light Asset Management LLC raised its holdings in 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 worth $109,296,000 after acquiring an additional 425,824 shares in the last quarter. Vanguard Group Inc. increased its position in Paragon 28 by 17.9% during the fourth quarter. Vanguard Group Inc. now owns 2,809,109 shares of the company’s stock worth $29,018,000 after buying an additional 425,983 shares during the last quarter. State Street Corp increased its position in Paragon 28 by 2.6% during the third quarter. State Street Corp now owns 1,563,331 shares of the company’s stock worth $10,443,000 after buying an additional 39,075 shares during the last quarter. Geode Capital Management LLC increased its position in Paragon 28 by 1.2% during 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. increased its position in Paragon 28 by 3.0% during 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 during the last quarter. Institutional investors own 63.57% of the company’s stock.

Paragon 28 Stock Up 0.1 %

Shares of Paragon 28 stock traded up $0.02 during trading on Wednesday, reaching $13.05. The stock had a trading volume of 801,406 shares, compared to its average volume of 869,092. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -17.63 and a beta of 1.54. The stock has a fifty day moving average price of $12.41 and a two-hundred day moving average price of $9.59. Paragon 28 has a 52 week low of $4.65 and a 52 week high of $13.13. 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 – Get Free Report) last released its earnings results on Thursday, March 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The company had revenue of $71.75 million for the quarter, compared to the consensus estimate of $70.81 million. Sell-side analysts predict that Paragon 28 will post -0.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FNA. Stephens reiterated an “equal weight” rating and set a $13.00 target price (down from $14.00) on shares of Paragon 28 in a report on Thursday, January 30th. Canaccord Genuity Group set a $13.00 target price on Paragon 28 in a report on Wednesday, January 29th. Needham & Company LLC reiterated a “hold” rating and set a $13.00 target price on shares of Paragon 28 in a report on Wednesday, January 29th. Finally, William Blair lowered Paragon 28 from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Paragon 28 has a consensus rating of “Hold” and a consensus target price of $14.20.

Read Our Latest Stock Report on FNA

Paragon 28 Company Profile

(Get Free Report)

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.

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