Pacer Advisors Inc. Grows Stake in Progyny, Inc. (NASDAQ:PGNY)

Pacer Advisors Inc. boosted its position in shares of Progyny, Inc. (NASDAQ:PGNY) by 47.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,676,200 shares of the company’s stock after acquiring an additional 1,183,558 shares during the quarter. Pacer Advisors Inc.’s holdings in Progyny were worth $63,414,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Progyny by 4.5% in the 3rd quarter. State Street Corp now owns 3,113,654 shares of the company’s stock worth $52,185,000 after purchasing an additional 134,861 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Progyny by 1,576.0% during the third quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock valued at $42,991,000 after purchasing an additional 2,412,068 shares during the period. Invenomic Capital Management LP purchased a new stake in Progyny in the third quarter worth about $29,509,000. Fort Washington Investment Advisors Inc. OH increased its position in Progyny by 90.1% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company’s stock worth $25,319,000 after buying an additional 695,740 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Progyny by 24.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company’s stock worth $36,676,000 after buying an additional 254,725 shares during the period. Institutional investors own 94.93% of the company’s stock.

Insider Transactions at Progyny

In other Progyny news, Chairman David J. Schlanger bought 150,000 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $14.68 per share, for a total transaction of $2,202,000.00. Following the completion of the transaction, the chairman now directly owns 228,269 shares of the company’s stock, valued at approximately $3,350,988.92. This represents a 191.65 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Anevski purchased 209,500 shares of Progyny stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $14.48 per share, for a total transaction of $3,033,560.00. Following the completion of the acquisition, the chief executive officer now 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 position. The disclosure for this purchase can be found here. Company insiders own 12.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PGNY shares. Bank of America decreased their target price on shares of Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. JPMorgan Chase & Co. restated a “neutral” rating and set a $17.00 price objective (down from $22.00) on shares of Progyny in a research report on Monday, December 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Progyny in a report on Tuesday, October 1st. Canaccord Genuity Group cut their price target on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $19.00 price objective (down previously from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.00.

Progyny Stock Up 3.9 %

Progyny stock opened at $22.95 on Tuesday. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $42.08. The firm’s fifty day moving average is $16.91 and its 200 day moving average is $19.25. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 2.11 and a beta of 1.31.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.26). The business had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share. On average, equities research analysts anticipate that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

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.