Quest Partners LLC Boosts Stake in Progyny, Inc. (NASDAQ:PGNY)

Quest Partners LLC increased its stake in Progyny, Inc. (NASDAQ:PGNY) by 2,689.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,930 shares of the company’s stock after acquiring an additional 16,323 shares during the period. Quest Partners LLC’s holdings in Progyny were worth $484,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PGNY. Arizona State Retirement System increased its position in shares of Progyny by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock valued at $696,000 after purchasing an additional 609 shares during the last quarter. Victory Capital Management Inc. grew its position in Progyny by 11.4% during the second quarter. Victory Capital Management Inc. now owns 72,301 shares of the company’s stock valued at $2,069,000 after acquiring an additional 7,375 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its stake in shares of Progyny by 8.2% during the second quarter. Kornitzer Capital Management Inc. KS now owns 843,829 shares of the company’s stock worth $24,142,000 after acquiring an additional 63,795 shares in the last quarter. TD Asset Management Inc bought a new stake in shares of Progyny in the 2nd quarter worth approximately $1,215,000. Finally, Rhumbline Advisers boosted its stake in shares of Progyny by 3.7% in the 2nd quarter. Rhumbline Advisers now owns 261,466 shares of the company’s stock valued at $7,481,000 after purchasing an additional 9,364 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on PGNY shares. Canaccord Genuity Group cut shares of Progyny from a “buy” rating to a “hold” rating and decreased their target price for the stock from $37.00 to $24.00 in a research report on Wednesday, August 7th. JMP Securities lowered their target price on Progyny from $36.00 to $31.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 7th. Leerink Partnrs lowered Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price objective on Progyny from $41.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Finally, BTIG Research cut shares of Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.90.

Insiders Place Their Bets

In other news, Director Cheryl Scott sold 1,462 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $28.39, for a total value of $41,506.18. Following the sale, the director now directly owns 10,098 shares of the company’s stock, valued at approximately $286,682.22. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, President Michael E. Sturmer sold 9,030 shares of Progyny stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total value of $270,900.00. Following the completion of the transaction, the president now owns 362,583 shares of the company’s stock, valued at approximately $10,877,490. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Cheryl Scott sold 1,462 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $28.39, for a total transaction of $41,506.18. Following the sale, the director now directly owns 10,098 shares in the company, valued at $286,682.22. The disclosure for this sale can be found here. Corporate insiders own 12.30% of the company’s stock.

Progyny Trading Up 1.5 %

Shares of Progyny stock opened at $23.25 on Friday. The company’s fifty day simple moving average is $24.85 and its two-hundred day simple moving average is $29.29. Progyny, Inc. has a 12-month low of $19.60 and a 12-month high of $42.08. The company has a market cap of $2.10 billion, a P/E ratio of 38.11, a PEG ratio of 1.88 and a beta of 1.45.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $304.09 million for the quarter, compared to analysts’ expectations of $305.32 million. Progyny had a net margin of 5.54% and a return on equity of 11.97%. Progyny’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 earnings per share. Analysts predict that Progyny, Inc. will post 0.64 EPS for the current fiscal year.

Progyny Company Profile

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.