Progyny, Inc. (NASDAQ:PGNY) CEO Acquires $3,033,560.00 in Stock

Progyny, Inc. (NASDAQ:PGNY) CEO Peter Anevski bought 209,500 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $14.48 per share, with a total value of $3,033,560.00. Following the purchase, the chief executive officer now directly owns 441,463 shares in the company, valued at $6,392,384.24. The trade was a 90.32 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Progyny Stock Up 1.2 %

PGNY opened at $14.71 on Friday. The company has a 50 day moving average of $15.23 and a two-hundred day moving average of $20.59. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $42.08. The company has a market cap of $1.25 billion, a P/E ratio of 25.36, a P/E/G ratio of 1.64 and a beta of 1.35.

Progyny (NASDAQ:PGNY) last announced its quarterly 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). The company had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 earnings per share. Research analysts anticipate that Progyny, Inc. will post 0.59 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Bank of America cut their price objective 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. Leerink Partners reduced their price target on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, September 19th. JMP Securities downgraded Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $17.00 target price (down from $22.00) on shares of Progyny in a research report on Monday, December 2nd. Finally, Jefferies Financial Group lowered 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. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $25.00.

Hedge Funds Weigh In On Progyny

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP grew its position in Progyny by 1,900.0% in the second quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after acquiring an additional 836 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Progyny during the 2nd quarter valued at $44,000. Mendota Financial Group LLC purchased a new stake in Progyny during the 3rd quarter worth $56,000. Meeder Asset Management Inc. acquired a new position in Progyny in the 3rd quarter worth $77,000. Finally, nVerses Capital LLC boosted its position in Progyny by 925.0% in the 2nd 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. 94.93% of the stock is owned by institutional investors and hedge funds.

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.