Guidance Capital Inc. Takes Position in Progyny, Inc. (NASDAQ:PGNY)

Guidance Capital Inc. acquired a new stake in Progyny, Inc. (NASDAQ:PGNY) in the 4th quarter, Holdings Channel reports. The firm acquired 22,001 shares of the company’s stock, valued at approximately $380,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Leibman Financial Services Inc. boosted its stake in shares of Progyny by 100.7% in the 4th quarter. Leibman Financial Services Inc. now owns 63,509 shares of the company’s stock valued at $1,096,000 after buying an additional 31,872 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of 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 valued at $25,319,000 after buying an additional 695,740 shares during the period. Kornitzer Capital Management Inc. KS boosted its stake in shares of Progyny by 15.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock valued at $16,366,000 after buying an additional 132,672 shares during the period. Aurora Investment Counsel purchased a new position in shares of Progyny in the 3rd quarter valued at about $1,280,000. Finally, Clear Harbor Asset Management LLC purchased a new position in shares of Progyny in the 4th quarter valued at about $989,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Progyny Stock Down 3.1 %

PGNY opened at $22.72 on Thursday. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 39.17, a price-to-earnings-growth ratio of 2.32 and a beta of 1.34. Progyny, Inc. has a 52 week low of $13.39 and a 52 week high of $42.08. The business’s 50 day moving average is $18.08 and its two-hundred day moving average is $19.05.

Progyny (NASDAQ:PGNY) last released its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The company had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 EPS. Equities analysts expect that Progyny, Inc. will post 0.6 EPS for the current fiscal year.

Insider Activity

In related news, Chairman David J. Schlanger bought 150,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were acquired at an average price of $14.68 per share, with a total value of $2,202,000.00. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Peter Anevski bought 209,500 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost of $14.48 per share, for a total transaction of $3,033,560.00. Following 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. Corporate insiders own 12.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PGNY. JPMorgan Chase & Co. lifted their price objective on Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Truist Financial reissued a “hold” rating and set a $19.00 target price (down previously from $26.00) on shares of Progyny in a research report on Wednesday, November 13th. Bank of America cut their target price on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Canaccord Genuity Group cut their target price on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Finally, Barclays cut their target price on Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $25.50.

Progyny 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.