Progyny, Inc. (NASDAQ:PGNY) Stock Position Reduced by Pacer Advisors Inc.

Pacer Advisors Inc. cut its stake in shares of Progyny, Inc. (NASDAQ:PGNY) by 82.7% during the first quarter, HoldingsChannel.com reports. The firm owned 637,023 shares of the company’s stock after selling 3,039,177 shares during the period. Pacer Advisors Inc.’s holdings in Progyny were worth $14,231,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Progyny during the 1st quarter valued at $354,000. GAMMA Investing LLC grew its stake in Progyny by 233.9% in the first quarter. GAMMA Investing LLC now owns 5,379 shares of the company’s stock valued at $120,000 after purchasing an additional 3,768 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Progyny by 18.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 34,675 shares of the company’s stock valued at $775,000 after purchasing an additional 5,459 shares in the last quarter. Cerity Partners LLC bought a new stake in shares of Progyny in the 4th quarter valued at approximately $229,000. Finally, Voya Investment Management LLC grew its stake in shares of Progyny by 1.4% in the 4th quarter. Voya Investment Management LLC now owns 51,792 shares of the company’s stock valued at $893,000 after buying an additional 701 shares in the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

Progyny Stock Up 0.5%

Shares of NASDAQ:PGNY opened at $23.11 on Friday. The business has a 50 day moving average price of $21.92 and a 200 day moving average price of $21.99. Progyny, Inc. has a twelve month low of $13.39 and a twelve month high of $29.65. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 40.54, a PEG ratio of 2.32 and a beta of 1.31.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.28). Progyny had a net margin of 4.33% and a return on equity of 10.90%. The business had revenue of $324.04 million during the quarter, compared to the consensus estimate of $307.86 million. During the same period in the prior year, the company posted $0.17 earnings per share. The firm’s revenue was up 16.5% compared to the same quarter last year. Analysts anticipate that Progyny, Inc. will post 0.6 EPS for the current year.

Insiders Place Their Bets

In related news, Director Cheryl Scott sold 2,675 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $22.07, for a total value of $59,037.25. Following the completion of the sale, the director owned 14,112 shares in the company, valued at approximately $311,451.84. This trade represents a 15.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on PGNY shares. Leerink Partners raised shares of Progyny from a “market perform” rating to an “outperform” rating and set a $28.00 target price for the company in a research report on Tuesday, July 8th. Leerink Partnrs raised shares of Progyny from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 8th. BTIG Research upgraded Progyny from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Monday, March 31st. Wall Street Zen raised Progyny from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Canaccord Genuity Group decreased their target price on Progyny from $23.00 to $21.00 and set a “hold” rating for the company in a research report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.82.

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.