Franklin Resources Inc. Has $759,000 Stock Holdings in Progyny, Inc. (NASDAQ:PGNY)

Franklin Resources Inc. boosted its position in Progyny, Inc. (NASDAQ:PGNY) by 17.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 48,248 shares of the company’s stock after buying an additional 7,003 shares during the quarter. Franklin Resources Inc.’s holdings in Progyny were worth $759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PGNY. Hsbc Holdings PLC raised its position in shares of Progyny by 703.9% during the 2nd quarter. Hsbc Holdings PLC now owns 46,475 shares of the company’s stock valued at $1,328,000 after acquiring an additional 40,694 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Progyny by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock valued at $21,636,000 after purchasing an additional 22,012 shares during the last quarter. Kestrel Investment Management Corp acquired a new position in Progyny in the second quarter valued at about $5,005,000. Farallon Capital Management LLC boosted its holdings in Progyny by 120.8% during the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after buying an additional 715,900 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its position in shares of Progyny by 15.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock worth $16,366,000 after buying an additional 132,672 shares during the period. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Progyny Price Performance

PGNY opened at $16.90 on Monday. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 29.14, a P/E/G ratio of 1.64 and a beta of 1.35. The business’s 50-day moving average price is $15.23 and its two-hundred day moving average price is $20.46. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $42.08.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PGNY shares. 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 research report on Thursday, September 19th. Canaccord Genuity Group cut their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Truist Financial reissued a “hold” rating and issued a $19.00 price target (down previously from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Jefferies Financial Group dropped their price objective on Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 target price (down from $22.00) on shares of Progyny in a research note on Monday, December 2nd. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $25.00.

Insider Buying and Selling

In related news, Chairman David J. Schlanger acquired 150,000 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was bought at an average price of $14.68 per share, with a total value of $2,202,000.00. Following the acquisition, the chairman now owns 228,269 shares in the company, valued at $3,350,988.92. This represents a 191.65 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Anevski purchased 209,500 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average cost of $14.48 per share, for a total transaction of $3,033,560.00. Following the completion of the transaction, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at approximately $6,392,384.24. This represents a 90.32 % increase in their position. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by corporate insiders.

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.