Insider Buying: Progyny, Inc. (NASDAQ:PGNY) Chairman Buys 150,000 Shares of Stock

Progyny, Inc. (NASDAQ:PGNY) Chairman David J. Schlanger acquired 150,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average cost of $14.68 per share, for a total transaction of $2,202,000.00. Following the acquisition, the chairman now owns 228,269 shares in the company, valued at approximately $3,350,988.92. This trade represents a 191.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Progyny Price Performance

NASDAQ PGNY opened at $16.90 on Friday. 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 $1.44 billion, a P/E ratio of 29.14, a PEG ratio of 1.64 and a beta of 1.35. The company’s 50 day simple moving average is $15.23 and its 200 day simple moving average is $20.46.

Progyny (NASDAQ:PGNY) last posted its quarterly 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 company had revenue of $286.63 million during the quarter, compared to the consensus estimate of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. Progyny’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 EPS. On average, analysts anticipate that Progyny, Inc. will post 0.59 earnings per share for the current year.

Hedge Funds Weigh In On Progyny

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. raised its holdings in Progyny by 12,579.4% during the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock worth $41,777,000 after buying an additional 2,472,983 shares during the period. International Assets Investment Management LLC increased its position in shares of Progyny by 1,576.0% in the third quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock worth $42,991,000 after acquiring an additional 2,412,068 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in shares of Progyny during the third quarter valued at approximately $29,509,000. Farallon Capital Management LLC lifted its position in shares of Progyny by 120.8% in the 2nd quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock valued at $37,436,000 after acquiring an additional 715,900 shares in the last quarter. Finally, Barclays PLC boosted its stake in Progyny by 530.4% in the 3rd quarter. Barclays PLC now owns 706,157 shares of the company’s stock worth $11,835,000 after purchasing an additional 594,140 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JMP Securities cut Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday, September 19th. Leerink Partners cut their target price on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, September 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price target on shares of Progyny in a research note on Tuesday, October 1st. Canaccord Genuity Group cut their price objective on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group decreased 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Progyny presently has a consensus 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.