HighTower Advisors LLC Decreases Position in Paragon 28, Inc. (NYSE:FNA)

HighTower Advisors LLC trimmed its stake in Paragon 28, Inc. (NYSE:FNA) by 20.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,328 shares of the company’s stock after selling 3,190 shares during the period. HighTower Advisors LLC’s holdings in Paragon 28 were worth $83,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Millennium Management LLC lifted its position in Paragon 28 by 5,834.0% in the second quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock worth $4,962,000 after buying an additional 713,263 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Paragon 28 in the 3rd quarter worth about $386,000. Peregrine Capital Management LLC purchased a new position in shares of Paragon 28 during the 2nd quarter worth about $3,351,000. First Light Asset Management LLC grew its holdings in Paragon 28 by 115.0% during the 2nd quarter. First Light Asset Management LLC now owns 8,174,832 shares of the company’s stock valued at $55,916,000 after purchasing an additional 4,371,864 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in Paragon 28 by 15.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,021,188 shares of the company’s stock valued at $6,986,000 after purchasing an additional 135,911 shares during the last quarter. Hedge funds and other institutional investors own 63.57% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on FNA shares. Needham & Company LLC boosted their target price on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Stephens upgraded Paragon 28 to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Canaccord Genuity Group reduced their target price on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $15.60.

Insiders Place Their Bets

In other news, major shareholder Mvm Partners, Llc sold 4,256 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $10.00, for a total value of $42,560.00. Following the completion of the sale, the insider now owns 10,499,960 shares in the company, valued at approximately $104,999,600. The trade was a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 252,914 shares of company stock worth $2,585,514 in the last three months. Corporate insiders own 15.32% of the company’s stock.

Paragon 28 Stock Performance

Paragon 28 stock opened at $10.35 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 3.50. The company has a market capitalization of $866.50 million, a PE ratio of -13.99 and a beta of 1.52. The company has a 50 day moving average price of $8.54 and a 200-day moving average price of $7.62. Paragon 28, Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $14.79.

Paragon 28 (NYSE:FNA) last issued its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The business had revenue of $62.30 million during the quarter, compared to analyst estimates of $60.58 million. During the same period in the previous year, the company posted ($0.10) EPS. Paragon 28’s revenue was up 18.0% on a year-over-year basis. As a group, equities analysts forecast that Paragon 28, Inc. will post -0.66 earnings per share for the current 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.