Algert Global LLC Trims Position in Progyny, Inc. (NASDAQ:PGNY)

Algert Global LLC trimmed its holdings in Progyny, Inc. (NASDAQ:PGNY) by 4.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 77,453 shares of the company’s stock after selling 3,429 shares during the quarter. Algert Global LLC’s holdings in Progyny were worth $2,216,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PGNY. Hsbc Holdings PLC purchased a new stake in shares of Progyny in the fourth quarter valued at about $1,095,000. Neuberger Berman Group LLC increased its stake in shares of Progyny by 13.6% during the fourth quarter. Neuberger Berman Group LLC now owns 274,409 shares of the company’s stock worth $10,203,000 after acquiring an additional 32,871 shares during the period. Birchview Capital LP increased its stake in shares of Progyny by 22.2% during the fourth quarter. Birchview Capital LP now owns 22,000 shares of the company’s stock worth $818,000 after acquiring an additional 4,000 shares during the period. Garden State Investment Advisory Services LLC acquired a new position in shares of Progyny during the fourth quarter worth about $474,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Progyny during the fourth quarter worth about $7,333,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Progyny Trading Up 0.9 %

Shares of PGNY opened at $16.33 on Thursday. The firm’s 50-day moving average is $22.20 and its two-hundred day moving average is $27.57. Progyny, Inc. has a twelve month low of $13.93 and a twelve month high of $42.08. The firm has a market capitalization of $1.47 billion, a P/E ratio of 26.77, a PEG ratio of 1.58 and a beta of 1.45.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PGNY shares. Leerink Partnrs lowered shares of Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Canaccord Genuity Group lowered shares of Progyny from a “buy” rating to a “hold” rating and dropped their price target for the stock from $37.00 to $24.00 in a research note on Wednesday, August 7th. BTIG Research lowered shares of Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. Leerink Partners dropped their price target on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, September 19th. Finally, Canaccord Genuity Group dropped their price target on shares of Progyny from $24.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. 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 MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $27.73.

Insider Activity

In other news, President Michael E. Sturmer sold 9,030 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total value of $270,900.00. Following the sale, the president now directly owns 362,583 shares in the company, valued at $10,877,490. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.30% of the company’s stock.

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.