Insider Buying: Progyny, Inc. (NASDAQ:PGNY) Chairman Purchases 150,000 Shares of Stock

Progyny, Inc. (NASDAQ:PGNY) Chairman David J. Schlanger bought 150,000 shares of the stock in a transaction on Thursday, December 26th. The shares were acquired at an average cost of $14.68 per share, with a total value of $2,202,000.00. Following the acquisition, the chairman now directly owns 228,269 shares in the company, valued at approximately $3,350,988.92. This trade represents a 191.65 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Progyny Trading Up 1.2 %

Shares of PGNY opened at $14.71 on Friday. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 1.64 and a beta of 1.35. The company’s fifty day simple moving average is $15.23 and its 200 day simple moving average is $20.59. Progyny, Inc. has a 1-year low of $13.39 and a 1-year high of $42.08.

Progyny (NASDAQ:PGNY) last issued its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The firm had revenue of $286.63 million during the quarter, compared to the consensus estimate of $296.85 million. During the same period in the previous year, the company posted $0.16 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, research analysts forecast that Progyny, Inc. will post 0.59 earnings per share for the current year.

Institutional Trading of Progyny

A number of hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. raised its stake in Progyny by 17.0% in the 3rd quarter. Franklin Resources Inc. now owns 48,248 shares of the company’s stock valued at $759,000 after acquiring an additional 7,003 shares during the period. Tidal Investments LLC increased its holdings in shares of Progyny by 67.7% in the third quarter. Tidal Investments LLC now owns 60,722 shares of the company’s stock valued at $1,018,000 after purchasing an additional 24,507 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its position in shares of Progyny by 56.5% in the third quarter. Disciplined Growth Investors Inc. MN now owns 826,726 shares of the company’s stock valued at $13,856,000 after purchasing an additional 298,314 shares during the period. Barclays PLC lifted its stake in shares of Progyny by 530.4% during the 3rd quarter. Barclays PLC now owns 706,157 shares of the company’s stock worth $11,835,000 after buying an additional 594,140 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Progyny during the 3rd quarter worth about $469,000. 94.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on PGNY. Barclays cut their price target on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price target (down previously from $22.00) on shares of Progyny in a report on Monday, December 2nd. Leerink Partners dropped their price objective on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, September 19th. Truist Financial reissued a “hold” rating and issued a $19.00 target price (down from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Finally, Bank of America dropped their price target on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.00.

About Progyny

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.