Central Pacific Bank Trust Division Acquires 6,270 Shares of Progyny, Inc. (NASDAQ:PGNY)

Central Pacific Bank Trust Division increased its holdings in Progyny, Inc. (NASDAQ:PGNY) by 89.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 13,250 shares of the company’s stock after acquiring an additional 6,270 shares during the period. Central Pacific Bank Trust Division’s holdings in Progyny were worth $229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Quarry LP boosted its position in Progyny by 1,900.0% during the second quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after buying an additional 836 shares during the period. GAMMA Investing LLC lifted its stake in shares of Progyny by 341.4% in the 4th quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock valued at $28,000 after acquiring an additional 1,246 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Progyny during the 2nd quarter valued at about $44,000. Mendota Financial Group LLC bought a new position in Progyny during the 3rd quarter worth approximately $56,000. Finally, Meeder Asset Management Inc. bought a new position in Progyny during the 3rd quarter worth approximately $77,000. Institutional investors own 94.93% of the company’s stock.

Progyny Price Performance

NASDAQ:PGNY opened at $17.60 on Friday. Progyny, Inc. has a 1-year low of $13.39 and a 1-year high of $42.08. The company has a market capitalization of $1.50 billion, a PE ratio of 30.35, a P/E/G ratio of 1.64 and a beta of 1.35. The firm’s 50-day moving average price is $15.38 and its 200-day moving average price is $20.13.

Progyny (NASDAQ:PGNY) last released its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The business had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. Progyny’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts anticipate that Progyny, Inc. will post 0.59 EPS for the current fiscal year.

Insider Transactions at Progyny

In other news, CEO Peter Anevski purchased 209,500 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $14.48 per share, for a total transaction of $3,033,560.00. Following the completion of the acquisition, the chief executive officer now directly owns 441,463 shares in the company, valued at $6,392,384.24. This represents a 90.32 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman David J. Schlanger acquired 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average price of $14.68 per share, with a total value of $2,202,000.00. Following the completion of the acquisition, the chairman now owns 228,269 shares in the company, valued at $3,350,988.92. The trade was a 191.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Analyst Upgrades and Downgrades

PGNY has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $25.00 price objective on shares of Progyny in a research note on Tuesday, October 1st. Bank of America dropped their price target on shares of Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $17.00 price objective (down previously from $22.00) on shares of Progyny in a research report on Monday, December 2nd. Jefferies Financial Group dropped their target price on shares of Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Finally, Canaccord Genuity Group cut their target price on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Progyny has a consensus rating of “Hold” and a consensus price target of $25.00.

Progyny 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.