Quantbot Technologies LP Invests $237,000 in Paragon 28, Inc. (NYSE:FNA)

Quantbot Technologies LP bought a new stake in Paragon 28, Inc. (NYSE:FNA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 22,911 shares of the company’s stock, valued at approximately $237,000.

Several other large investors have also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC purchased a new stake in Paragon 28 in the 4th quarter valued at about $36,000. AlphaQuest LLC increased 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 purchasing an additional 925 shares during the last quarter. Intech Investment Management LLC purchased a new position in Paragon 28 during the third quarter worth approximately $70,000. New York State Common Retirement Fund boosted its holdings in shares of Paragon 28 by 374.6% in the 4th quarter. New York State Common Retirement Fund now owns 14,570 shares of the company’s stock valued at $151,000 after purchasing an additional 11,500 shares during the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of Paragon 28 by 15.0% during the 4th quarter. Ballentine Partners LLC now owns 15,630 shares of the company’s stock valued at $161,000 after buying an additional 2,043 shares during the period. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 27,142 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $11.62, for a total value of $315,390.04. Following the completion of the transaction, the insider now directly owns 10,313,841 shares of the company’s stock, valued at $119,846,832.42. This represents a 0.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 1,875,984 shares of company stock valued at $24,359,971. Corporate insiders own 15.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FNA. William Blair cut Paragon 28 from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Canaccord Genuity Group set a $13.00 price objective on Paragon 28 in a research note on Wednesday, January 29th. Needham & Company LLC reissued a “hold” rating and set a $13.00 target price on shares of Paragon 28 in a research report on Wednesday, January 29th. Finally, 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 report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.20.

Paragon 28 Price Performance

Shares of NYSE FNA opened at $13.04 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60. Paragon 28, Inc. has a 1-year low of $4.65 and a 1-year high of $13.13. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -17.61 and a beta of 1.54. The business has a 50-day moving average of $12.82 and a 200-day moving average of $9.87.

Paragon 28 (NYSE:FNA) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The company had revenue of $71.75 million during the quarter, compared to analysts’ expectations of $70.81 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. On average, equities analysts anticipate that Paragon 28, Inc. will post -0.64 EPS for the current fiscal year.

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.