SG Americas Securities LLC Grows Position in Progyny, Inc. (NASDAQ:PGNY)

SG Americas Securities LLC raised its position in Progyny, Inc. (NASDAQ:PGNY) by 299.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,152 shares of the company’s stock after acquiring an additional 39,089 shares during the quarter. SG Americas Securities LLC owned approximately 0.06% of Progyny worth $874,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caprock Group LLC grew its stake in shares of Progyny by 5.3% during the first quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock worth $240,000 after purchasing an additional 319 shares in the last quarter. RiverPark Advisors LLC boosted its position in shares of Progyny by 9.6% during the 2nd quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock worth $155,000 after acquiring an additional 474 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of Progyny by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 20,479 shares of the company’s stock valued at $781,000 after acquiring an additional 500 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Progyny by 9.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,260 shares of the company’s stock worth $239,000 after acquiring an additional 543 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in Progyny by 2.6% during the second quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock worth $696,000 after purchasing an additional 609 shares during the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

Progyny Trading Down 2.1 %

Shares of PGNY stock opened at $16.10 on Friday. Progyny, Inc. has a twelve month low of $13.93 and a twelve month high of $42.08. The business’s 50 day moving average is $20.51 and its two-hundred day moving average is $26.63. The company has a market capitalization of $1.45 billion, a P/E ratio of 25.56, a price-to-earnings-growth ratio of 1.55 and a beta of 1.43.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $304.09 million for the quarter, compared to analysts’ expectations of $305.32 million. Progyny had a net margin of 5.54% and a return on equity of 11.97%. Progyny’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 EPS. As a group, equities analysts predict that Progyny, Inc. will post 0.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Progyny in a research report on Tuesday, October 1st. BTIG Research cut shares of Progyny from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Canaccord Genuity Group lowered Progyny from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $37.00 to $24.00 in a report on Wednesday, August 7th. Finally, Canaccord Genuity Group reduced their target price on Progyny from $24.00 to $18.00 and set a “hold” rating for the company in a report on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.73.

Insider Buying and Selling at Progyny

In other news, President Michael E. Sturmer sold 9,030 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was 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 approximately $10,877,490. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.30% of the stock is owned by corporate insiders.

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.