Short Interest in Paragon 28, Inc. (NYSE:FNA) Drops By 20.0%

Paragon 28, Inc. (NYSE:FNA - Get Free Report) was the recipient of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 1,440,000 shares, a decrease 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 days-to-cover ratio is presently 1.0 days. Currently, 3.0% of the company's shares are sold short.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, major shareholder Mvm Partners, Llc sold 1,044,295 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $13.04, for a total transaction of $13,617,606.80. Following the completion of the sale, the insider now owns 7,810,588 shares of the company's stock, valued at approximately $101,850,067.52. This represents a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 1,875,984 shares of company stock valued at $24,359,971. 15.32% of the stock is currently owned by company insiders.

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Hedge Funds Weigh In On Paragon 28

Institutional investors and hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC bought a new position in shares of Paragon 28 during the fourth quarter valued at $36,000. AlphaQuest LLC increased its holdings in Paragon 28 by 33.6% in the 4th 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 holdings in Paragon 28 by 37.4% in the 4th quarter. State of Wyoming now owns 4,359 shares of the company's stock worth $45,000 after buying an additional 1,187 shares in the last quarter. Intech Investment Management LLC bought a new stake in Paragon 28 in the 3rd quarter worth about $70,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Paragon 28 in the 4th quarter worth about $94,000. 63.57% of the stock is currently owned by institutional investors.

Paragon 28 Stock Up 0.0 %

Shares of NYSE:FNA traded up $0.01 on Thursday, hitting $13.04. 602,555 shares of the company traded hands, compared to its average volume of 868,009. Paragon 28 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 stock has a 50 day simple moving average of $12.46 and a 200-day simple moving average of $9.61. The company has a market cap of $1.09 billion, a PE ratio of -17.61 and a beta of 1.54.

Paragon 28 (NYSE:FNA - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $71.75 million for the quarter, compared to the consensus estimate of $70.81 million. As a group, research analysts expect that Paragon 28 will post -0.64 earnings per share for the current year.

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.