Short Interest in Paragon 28, Inc. (NYSE:FNA) Drops By 14.7%

Paragon 28, Inc. (NYSE:FNA) was the recipient of a large 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 sold short. Based on an average trading volume of 1,200,000 shares, the days-to-cover ratio is presently 1.5 days.

Insider Buying and Selling at Paragon 28

In related news, major shareholder Mvm Partners, Llc sold 27,142 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $11.62, for a total transaction of $315,390.04. Following the sale, the insider now owns 10,313,841 shares in the company, valued at $119,846,832.42. This represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 831,689 shares of company stock worth $10,742,364 in the last ninety days. 15.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Paragon 28

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its holdings in shares of Paragon 28 by 180.6% during the third quarter. Barclays PLC now owns 84,812 shares of the company’s stock valued at $567,000 after purchasing an additional 54,591 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Paragon 28 by 2,141.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company’s stock worth $5,243,000 after buying an additional 749,865 shares during the period. GSA Capital Partners LLP purchased a new stake in Paragon 28 during the third quarter valued at about $386,000. Ballentine Partners LLC boosted its holdings in shares of Paragon 28 by 15.0% in the fourth quarter. Ballentine Partners LLC now owns 15,630 shares of the company’s stock worth $161,000 after buying an additional 2,043 shares during the period. Finally, State Street Corp boosted its holdings in shares of Paragon 28 by 2.6% in 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 period. Institutional investors and hedge funds own 63.57% of the company’s stock.

Paragon 28 Price Performance

NYSE:FNA traded up $0.02 during mid-day trading on Friday, reaching $13.05. 598,498 shares of the stock were exchanged, compared to its average volume of 833,982. Paragon 28 has a 1-year low of $4.65 and a 1-year 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. The firm has a market capitalization of $1.09 billion, a PE ratio of -17.63 and a beta of 1.54. The business has a fifty day moving average price of $12.01 and a 200 day moving average price of $9.30.

Analyst Ratings Changes

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

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.