Central Pacific Bank Trust Division Purchases 6,270 Shares of Progyny, Inc. (NASDAQ:PGNY)

Central Pacific Bank Trust Division increased its holdings in Progyny, Inc. (NASDAQ:PGNY) by 89.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,250 shares of the company’s stock after acquiring an additional 6,270 shares during the period. Central Pacific Bank Trust Division’s holdings in Progyny were worth $229,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Quarry LP boosted its position in Progyny by 1,900.0% in 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. GAMMA Investing LLC boosted its holdings in shares of Progyny by 341.4% in the 4th quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock worth $28,000 after buying an additional 1,246 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Progyny during the second quarter valued at about $44,000. Mendota Financial Group LLC purchased a new stake in Progyny during the third quarter worth about $56,000. Finally, Meeder Asset Management Inc. bought a new stake in Progyny in the third quarter worth about $77,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PGNY shares. Jefferies Financial Group reduced their target price on shares of Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Leerink Partners decreased their target price on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research report on Thursday, September 19th. Bank of America dropped their price target on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price objective (down previously from $22.00) on shares of Progyny in a report on Monday, December 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price objective on shares of Progyny in a report on Tuesday, October 1st. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.00.

Progyny Stock Performance

Progyny stock opened at $17.60 on Friday. Progyny, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $42.08. The stock has a market cap of $1.50 billion, a P/E ratio of 30.35, a PEG ratio of 1.64 and a beta of 1.35. The firm’s fifty day moving average price is $15.38 and its 200-day moving average price is $20.13.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business had revenue of $286.63 million during the quarter, compared to the consensus estimate of $296.85 million. During the same quarter in the prior year, the company earned $0.16 earnings per share. Progyny’s revenue was up 2.0% compared to the same quarter last year. Sell-side analysts predict that Progyny, Inc. will post 0.59 earnings per share for the current year.

Insider Buying and Selling at Progyny

In other news, CEO Peter Anevski bought 209,500 shares of Progyny stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $14.48 per share, with a total value of $3,033,560.00. Following the completion of 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman David J. Schlanger purchased 150,000 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were purchased at an average cost of $14.68 per share, with a total value of $2,202,000.00. Following the purchase, the chairman now owns 228,269 shares of the company’s stock, valued at approximately $3,350,988.92. The trade was a 191.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is currently owned by company insiders.

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.