Cubist Systematic Strategies LLC Purchases Shares of 53,973 Progyny, Inc. (NASDAQ:PGNY)

Cubist Systematic Strategies LLC acquired a new stake in shares of Progyny, Inc. (NASDAQ:PGNY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 53,973 shares of the company’s stock, valued at approximately $1,544,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TFC Financial Management Inc. bought a new stake in shares of Progyny during the first quarter valued at approximately $42,000. Financial Management Professionals Inc. bought a new stake in shares of Progyny during the first quarter valued at approximately $52,000. Cambridge Trust Co. bought a new stake in shares of Progyny during the first quarter valued at approximately $95,000. Natixis Investment Managers International bought a new stake in shares of Progyny during the first quarter valued at approximately $117,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Progyny during the second quarter valued at approximately $97,000. Institutional investors own 94.93% of the company’s stock.

Insider Activity

In other news, President Michael E. Sturmer sold 9,030 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total transaction of $270,900.00. Following the transaction, the president now owns 362,583 shares of the company’s stock, valued at approximately $10,877,490. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.30% of the company’s stock.

Progyny Price Performance

Shares of NASDAQ:PGNY opened at $16.18 on Wednesday. The company has a market capitalization of $1.54 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 1.62 and a beta of 1.45. The business has a fifty day moving average price of $22.43 and a two-hundred day moving average price of $27.65. Progyny, Inc. has a 1 year low of $13.93 and a 1 year high of $42.08.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group decreased their price target on Progyny from $24.00 to $18.00 and set a “hold” rating for the company in a report on Friday, September 20th. Jefferies Financial Group decreased their price target on Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 price target on shares of Progyny in a report on Tuesday. Canaccord Genuity Group downgraded Progyny from a “buy” rating to a “hold” rating and decreased their price target for the stock from $37.00 to $24.00 in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased their price target on Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, September 19th. Seven 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 data from MarketBeat, Progyny currently has an average rating of “Hold” and a consensus price target of $27.73.

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.