Paragon 28, Inc. (NYSE:FNA) Sees Significant Decline in Short Interest

Paragon 28, Inc. (NYSE:FNA - Get Free Report) was the recipient of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 1,800,000 shares, a decrease of 14.7% from the January 31st total of 2,110,000 shares. Currently, 3.8% of the company's stock are short sold. Based on an average daily volume of 1,200,000 shares, the days-to-cover ratio is presently 1.5 days.

Insider Transactions at Paragon 28

In related news, major shareholder Mvm Partners, Llc sold 20,136 shares of the company's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $11.63, for a total transaction of $234,181.68. Following the completion of the sale, the insider now owns 10,366,009 shares in the company, valued at approximately $120,556,684.67. This represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 831,689 shares of company stock valued at $10,742,364 over the last ninety days. 15.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC purchased a new position in shares of Paragon 28 during the 4th quarter valued at $36,000. AlphaQuest LLC grew 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 buying an additional 925 shares in the last quarter. State of Wyoming increased its position in shares of Paragon 28 by 37.4% in the fourth quarter. State of Wyoming now owns 4,359 shares of the company's stock worth $45,000 after purchasing an additional 1,187 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Paragon 28 in the 4th quarter worth $94,000. Finally, Intech Investment Management LLC bought a new position in shares of Paragon 28 in the 3rd quarter worth $70,000. 63.57% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

Several research firms have recently issued reports on FNA. Canaccord Genuity Group set a $13.00 target price on shares of Paragon 28 in a research note on Wednesday, January 29th. William Blair downgraded shares of Paragon 28 from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 29th. Stephens reissued an "equal weight" rating and set a $13.00 target price (down previously from $14.00) on shares of Paragon 28 in a research report on Thursday, January 30th. Finally, Needham & Company LLC restated a "hold" rating and issued a $13.00 target price on shares of Paragon 28 in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $14.20.

Paragon 28 Stock Performance

NYSE FNA traded down $0.01 during trading hours on Friday, reaching $13.03. 956,587 shares of the company were exchanged, compared to its average volume of 836,118. The stock has a market capitalization of $1.09 billion, a P/E ratio of -17.60 and a beta of 1.54. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79. Paragon 28 has a 1 year low of $4.65 and a 1 year high of $13.13. The business's 50 day simple moving average is $12.07 and its 200-day simple moving average is $9.33.

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.