Progyny, Inc. (NASDAQ:PGNY) Chairman David J. Schlanger Buys 150,000 Shares of Stock

Progyny, Inc. (NASDAQ:PGNY) Chairman David J. Schlanger acquired 150,000 shares of the stock in a transaction dated Thursday, December 26th. The stock was bought at an average price of $14.68 per share, for a total transaction of $2,202,000.00. Following the purchase, the chairman now owns 228,269 shares of the company’s stock, valued at $3,350,988.92. The trade was a 191.65 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Progyny Stock Performance

PGNY opened at $14.71 on Friday. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 1.64 and a beta of 1.35. The firm’s 50-day simple moving average is $15.23 and its 200-day simple moving average is $20.59. Progyny, Inc. has a twelve month low of $13.39 and a twelve month high of $42.08.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The firm had revenue of $286.63 million for the quarter, compared to the consensus estimate of $296.85 million. During the same period in the prior year, the company posted $0.16 earnings per share. Progyny’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Progyny, Inc. will post 0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Progyny

Several institutional investors have recently bought and sold shares of PGNY. Quarry LP grew its holdings in shares of Progyny by 1,900.0% during the second quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after purchasing an additional 836 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Progyny during the 2nd quarter worth about $44,000. Mendota Financial Group LLC bought a new stake in Progyny during the 3rd quarter worth about $56,000. Meeder Asset Management Inc. acquired a new stake in Progyny in the 3rd quarter valued at about $77,000. Finally, nVerses Capital LLC raised its stake in shares of Progyny by 925.0% in the second quarter. nVerses Capital LLC now owns 4,100 shares of the company’s stock worth $117,000 after acquiring an additional 3,700 shares during the last quarter. Institutional investors own 94.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PGNY. Leerink Partners decreased 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 report on Thursday, September 19th. Barclays lowered their price target on Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Canaccord Genuity Group reduced their price objective on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Bank of America lowered their price objective on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $19.00 target price (down from $26.00) on shares of Progyny in a research 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, Progyny has an average rating of “Hold” and a consensus target price of $25.00.

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.