Dark Forest Capital Management LP Invests $1.52 Million in Progyny, Inc. (NASDAQ:PGNY)

Dark Forest Capital Management LP bought a new stake in Progyny, Inc. (NASDAQ:PGNY) during the second quarter, HoldingsChannel reports. The institutional investor bought 53,235 shares of the company’s stock, valued at approximately $1,523,000.

A number of other large investors have also recently bought and sold shares of PGNY. TFC Financial Management Inc. purchased a new stake in shares of Progyny in the first quarter valued at $42,000. Financial Management Professionals Inc. purchased a new position in Progyny in the 1st quarter valued at about $52,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Progyny in the 2nd quarter valued at about $44,000. Cambridge Trust Co. purchased a new stake in shares of Progyny during the first quarter worth about $95,000. Finally, Natixis Investment Managers International purchased a new stake in shares of Progyny during the first quarter worth about $117,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

Insider Buying and Selling

In other Progyny news, Director Cheryl Scott sold 1,462 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $28.39, for a total value of $41,506.18. Following the transaction, the director now directly owns 10,098 shares of the company’s stock, valued at $286,682.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Cheryl Scott sold 1,462 shares of Progyny stock in a transaction on Friday, June 28th. The shares were sold at an average price of $28.39, for a total transaction of $41,506.18. Following the sale, the director now owns 10,098 shares of the company’s stock, valued at approximately $286,682.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael E. Sturmer sold 9,030 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total transaction of $270,900.00. Following the completion of the transaction, the president now directly owns 362,583 shares of the company’s stock, valued at $10,877,490. The disclosure for this sale can be found here. 12.30% of the stock is owned by corporate insiders.

Progyny Price Performance

NASDAQ PGNY opened at $16.65 on Thursday. The business’s 50-day simple moving average is $23.33 and its 200-day simple moving average is $28.24. The firm has a market capitalization of $1.50 billion, a P/E ratio of 27.30, a P/E/G ratio of 1.62 and a beta of 1.45. Progyny, Inc. has a 1-year low of $13.93 and a 1-year high of $42.08.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The company had revenue of $304.09 million during the quarter, compared to the consensus estimate of $305.32 million. During the same period in the previous year, the firm earned $0.15 earnings per share. Progyny’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities research analysts expect that Progyny, Inc. will post 0.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PGNY shares. Leerink Partnrs lowered shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Canaccord Genuity Group decreased their price objective on Progyny from $24.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, September 20th. JPMorgan Chase & Co. dropped their target price on Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, September 19th. BTIG Research downgraded Progyny from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, Canaccord Genuity Group downgraded shares of Progyny from a “buy” rating to a “hold” rating and dropped their price objective for the company from $37.00 to $24.00 in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Progyny presently has an average rating of “Hold” and a consensus price target of $27.73.

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.