HighTower Advisors LLC Sells 1,657 Shares of Progyny, Inc. (NASDAQ:PGNY)

HighTower Advisors LLC decreased its position in shares of Progyny, Inc. (NASDAQ:PGNY) by 12.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,145 shares of the company’s stock after selling 1,657 shares during the quarter. HighTower Advisors LLC’s holdings in Progyny were worth $181,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP lifted its position in shares of 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 purchasing an additional 836 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Progyny in the 2nd quarter valued at about $44,000. Mendota Financial Group LLC purchased a new stake in shares of Progyny during the 3rd quarter valued at approximately $56,000. Meeder Asset Management Inc. bought a new position in shares of Progyny in the third quarter worth $77,000. Finally, nVerses Capital LLC boosted its stake in Progyny by 925.0% in the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the company’s stock worth $117,000 after purchasing an additional 3,700 shares during the period. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Progyny Stock Performance

Shares of NASDAQ:PGNY opened at $14.53 on Thursday. The stock’s 50-day simple moving average is $15.27 and its two-hundred day simple moving average is $20.63. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 1.64 and a beta of 1.35. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $42.08.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data 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). The business had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 EPS. As a group, equities analysts forecast that Progyny, Inc. will post 0.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PGNY shares. JMP Securities lowered Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 target price (down previously from $22.00) on shares of Progyny in a report on Monday, December 2nd. Canaccord Genuity Group lowered their price target on shares of Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. Leerink Partners cut their price target on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, September 19th. Finally, Truist Financial reiterated a “hold” rating and issued a $19.00 price objective (down previously from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.