Connor Clark & Lunn Investment Management Ltd. Invests $547,000 in Paragon 28, Inc. (NYSE:FNA)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Paragon 28, Inc. (NYSE:FNA) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 52,970 shares of the company’s stock, valued at approximately $547,000.

A number of other hedge funds have also bought and sold shares of the business. Venturi Wealth Management LLC bought a new stake in Paragon 28 in the 4th quarter valued at about $36,000. AlphaQuest LLC boosted its stake in shares of Paragon 28 by 33.6% in the fourth quarter. AlphaQuest LLC now owns 3,680 shares of the company’s stock valued at $38,000 after buying an additional 925 shares during the period. Intech Investment Management LLC bought a new stake in shares of Paragon 28 in the third quarter valued at approximately $70,000. New York State Common Retirement Fund grew its position in Paragon 28 by 374.6% during the fourth quarter. New York State Common Retirement Fund now owns 14,570 shares of the company’s stock worth $151,000 after buying an additional 11,500 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in Paragon 28 by 15.0% during the 4th quarter. Ballentine Partners LLC now owns 15,630 shares of the company’s stock worth $161,000 after acquiring an additional 2,043 shares during the period. 63.57% of the stock is owned by institutional investors.

Paragon 28 Stock Performance

Paragon 28 stock opened at $13.03 on Friday. 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 market cap of $1.09 billion, a PE ratio of -17.60 and a beta of 1.54. Paragon 28, Inc. has a 12-month low of $4.65 and a 12-month high of $13.13. The business’s 50-day moving average price is $12.57 and its two-hundred day moving average price is $9.68.

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, major shareholder Mvm Partners, Llc sold 1,044,295 shares of the firm’s stock in a transaction 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 sale, the insider now owns 7,810,588 shares of the company’s stock, valued at $101,850,067.52. This trade represents a 11.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 1,875,984 shares of company stock valued at $24,359,971. 15.32% of the stock is currently owned by insiders.

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.