Rhumbline Advisers Buys 9,364 Shares of Progyny, Inc. (NASDAQ:PGNY)

Rhumbline Advisers lifted its holdings in Progyny, Inc. (NASDAQ:PGNY) by 3.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 261,466 shares of the company’s stock after purchasing an additional 9,364 shares during the period. Rhumbline Advisers owned about 0.27% of Progyny worth $7,481,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Hussman Strategic Advisors Inc. bought a new stake in shares of Progyny during the second quarter valued at approximately $1,802,000. Davidson Investment Advisors raised its position in shares of Progyny by 5.9% during the second quarter. Davidson Investment Advisors now owns 283,052 shares of the company’s stock valued at $8,098,000 after buying an additional 15,762 shares during the last quarter. nVerses Capital LLC raised its position in shares of Progyny by 925.0% during the second quarter. nVerses Capital LLC now owns 4,100 shares of the company’s stock valued at $117,000 after buying an additional 3,700 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Progyny by 12.4% during the second quarter. Crossmark Global Holdings Inc. now owns 18,286 shares of the company’s stock valued at $523,000 after buying an additional 2,019 shares during the last quarter. Finally, F M Investments LLC bought a new stake in shares of Progyny during the second quarter valued at approximately $326,000. Institutional investors own 94.93% of the company’s stock.

Insider Buying and Selling

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

Analyst Ratings Changes

PGNY has been the topic of several research reports. Leerink Partners cut shares of Progyny from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $31.00 to $25.00 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price target on shares of Progyny from $41.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Leerink Partnrs cut shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. JMP Securities reduced their price target on shares of Progyny from $36.00 to $31.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Canaccord Genuity Group lowered shares of Progyny from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $37.00 to $24.00 in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Progyny currently has an average rating of “Hold” and a consensus target price of $31.90.

Progyny Trading Up 3.9 %

NASDAQ PGNY opened at $24.15 on Friday. The stock has a market cap of $2.30 billion, a PE ratio of 39.59, a P/E/G ratio of 1.86 and a beta of 1.45. Progyny, Inc. has a twelve month low of $19.60 and a twelve month high of $42.08. The stock has a fifty day simple moving average of $24.77 and a 200-day simple moving average of $29.18.

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

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.