River Road Asset Management LLC Makes New $25.53 Million Investment in Progyny, Inc. (NASDAQ:PGNY)

River Road Asset Management LLC acquired a new position in shares of Progyny, Inc. (NASDAQ:PGNY) in the 4th quarter, Holdings Channel.com reports. The firm acquired 1,479,944 shares of the company’s stock, valued at approximately $25,529,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PGNY. Equitable Trust Co. raised its holdings in Progyny by 32.4% during the 3rd quarter. Equitable Trust Co. now owns 21,280 shares of the company’s stock worth $357,000 after purchasing an additional 5,205 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Progyny by 29.3% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 91,409 shares of the company’s stock worth $1,532,000 after purchasing an additional 20,692 shares during the last quarter. Versor Investments LP bought a new stake in Progyny during the 3rd quarter worth about $359,000. Entropy Technologies LP bought a new stake in Progyny during the 3rd quarter worth about $761,000. Finally, GSA Capital Partners LLP bought a new stake in Progyny during the 3rd quarter worth about $1,484,000. 94.93% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Progyny Stock Performance

NASDAQ PGNY opened at $19.82 on Tuesday. The business has a 50 day simple moving average of $21.38 and a 200 day simple moving average of $18.66. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $38.98. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 34.17, a PEG ratio of 2.39 and a beta of 1.41.

Analyst Ratings Changes

PGNY has been the subject of several recent research reports. Truist Financial reissued a “hold” rating and set a $19.00 price objective (down from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Canaccord Genuity Group upped their price target on Progyny from $17.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. upped their price target on Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Barclays lowered their price target on Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Finally, Bank of America upped their price target on Progyny from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. 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 MarketBeat, Progyny presently has a consensus rating of “Hold” and an average target price of $24.82.

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.