Progyny, Inc. (NASDAQ:PGNY) Short Interest Update

Progyny, Inc. (NASDAQ:PGNY) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 6,450,000 shares, a decrease of 36.6% from the March 15th total of 10,170,000 shares. Based on an average daily trading volume, of 1,860,000 shares, the days-to-cover ratio is presently 3.5 days. Currently, 9.0% of the shares of the company are short sold.

Analyst Ratings Changes

Several analysts recently commented on the company. BTIG Research raised Progyny from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Monday, March 31st. Bank of America increased their price objective on shares of Progyny from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Canaccord Genuity Group boosted their target price on shares of Progyny from $17.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.64.

Progyny Stock Performance

Shares of Progyny stock traded up $0.03 during trading hours on Thursday, hitting $21.43. The company’s stock had a trading volume of 684,980 shares, compared to its average volume of 1,733,147. The company has a market cap of $1.83 billion, a PE ratio of 36.94, a PEG ratio of 2.39 and a beta of 1.33. The business has a 50 day moving average price of $21.98 and a two-hundred day moving average price of $18.77. Progyny has a 12-month low of $13.39 and a 12-month high of $33.84.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PGNY. River Road Asset Management LLC purchased a new position in shares of Progyny in the fourth quarter worth $25,529,000. Pacer Advisors Inc. increased its holdings in Progyny by 47.5% in the 4th quarter. Pacer Advisors Inc. now owns 3,676,200 shares of the company’s stock valued at $63,414,000 after acquiring an additional 1,183,558 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in Progyny by 90.1% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company’s stock worth $25,319,000 after purchasing an additional 695,740 shares in the last quarter. Barclays PLC boosted its holdings in shares of Progyny by 95.7% during the 4th quarter. Barclays PLC now owns 1,382,205 shares of the company’s stock valued at $23,843,000 after purchasing an additional 676,048 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of Progyny during the fourth quarter valued at about $11,265,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

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.