M&G Plc Acquires 6,223 Shares of Progyny, Inc. (NASDAQ:PGNY)

M&G Plc increased its holdings in Progyny, Inc. (NASDAQ:PGNY) by 20.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,641 shares of the company’s stock after purchasing an additional 6,223 shares during the period. M&G Plc’s holdings in Progyny were worth $1,063,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. TFC Financial Management Inc. bought a new position in shares of Progyny during the first quarter worth $42,000. Financial Management Professionals Inc. purchased a new position in shares of Progyny during the first quarter valued at about $52,000. Cambridge Trust Co. bought a new stake in shares of Progyny in the first quarter worth about $95,000. Parkside Financial Bank & Trust lifted its position in shares of Progyny by 9.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company’s stock worth $115,000 after buying an additional 264 shares in the last quarter. Finally, Natixis Investment Managers International bought a new position in Progyny during the first quarter valued at approximately $117,000. 94.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PGNY. Leerink Partnrs cut Progyny from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. JMP Securities lowered their price objective on shares of Progyny from $36.00 to $31.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 7th. Truist Financial dropped their price objective on shares of Progyny from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Cantor Fitzgerald decreased their target price on shares of Progyny from $48.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, SVB Leerink downgraded shares of Progyny from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $31.00 to $25.00 in a report on Wednesday, August 7th. Six 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, the company has a consensus rating of “Hold” and an average target price of $34.50.

Progyny Price Performance

Shares of NASDAQ:PGNY traded up $0.58 during trading hours on Tuesday, hitting $21.60. 2,007,659 shares of the company’s stock traded hands, compared to its average volume of 1,043,453. The business has a fifty day moving average price of $27.17 and a 200-day moving average price of $31.96. Progyny, Inc. has a 1 year low of $19.60 and a 1 year high of $42.08. The firm has a market capitalization of $2.06 billion, a P/E ratio of 34.46, a price-to-earnings-growth ratio of 1.67 and a beta of 1.46.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. Progyny had a return on equity of 11.48% and a net margin of 5.54%. The company had revenue of $304.09 million during the quarter, compared to analysts’ expectations of $305.32 million. During the same quarter in the previous year, the business earned $0.15 EPS. Progyny’s revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts predict that Progyny, Inc. will post 0.73 earnings per share for the current year.

Insider Buying and Selling

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