Progyny, Inc. (NASDAQ:PGNY) CEO Peter Anevski Acquires 209,500 Shares

Progyny, Inc. (NASDAQ:PGNY) CEO Peter Anevski acquired 209,500 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of $14.48 per share, for a total transaction of $3,033,560.00. Following the purchase, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at approximately $6,392,384.24. This trade represents a 90.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Progyny Price Performance

Shares of NASDAQ PGNY traded up $0.18 during midday trading on Thursday, reaching $14.71. 1,918,778 shares of the stock were exchanged, compared to its average volume of 1,423,054. Progyny, Inc. has a 12 month low of $13.39 and a 12 month high of $42.08. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 25.36, a P/E/G ratio of 1.64 and a beta of 1.35. The business has a 50-day simple moving average of $15.27 and a two-hundred day simple moving average of $20.63.

Progyny (NASDAQ:PGNY) last posted its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $296.85 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. Equities research analysts expect that Progyny, Inc. will post 0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Progyny

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP lifted its stake in Progyny by 1,900.0% in the second quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after buying an additional 836 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Progyny during the second quarter worth $44,000. Mendota Financial Group LLC bought a new stake in Progyny in the 3rd quarter valued at $56,000. nVerses Capital LLC boosted its stake in Progyny by 925.0% in the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the company’s stock worth $117,000 after purchasing an additional 3,700 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in Progyny during the 3rd quarter worth about $77,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PGNY shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $17.00 price target (down previously from $22.00) on shares of Progyny in a report on Monday, December 2nd. Leerink Partners cut their price target on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, September 19th. Barclays decreased their target price on Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Bank of America lowered their price objective on shares of Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group cut 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. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Progyny has an average rating of “Hold” and an average price target of $25.00.

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.