15,392 Shares in Progyny, Inc. (NASDAQ:PGNY) Acquired by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd purchased 15,392 shares of Progyny, Inc., valued at approximately $344,000, during the first quarter, reflecting increased institutional interest in the stock.
• Several other large investors, including Vanguard and Barclays, significantly increased their stakes in Progyny, indicating a strong confidence in the company's performance.
• Analysts have given Progyny a consensus rating of "Moderate Buy" with a price target averaging $24.82, showcasing positive future expectations despite current earnings miss.

Bayforest Capital Ltd bought a new position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,392 shares of the company's stock, valued at approximately $344,000.

A number of other large investors also recently made changes to their positions in PGNY. Natixis acquired a new stake in shares of Progyny in the 4th quarter valued at $69,000. GAMMA Investing LLC boosted its holdings in shares of Progyny by 233.9% in the 1st 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. Covestor Ltd boosted its holdings in shares of Progyny by 69.4% in the 4th quarter. Covestor Ltd now owns 6,868 shares of the company's stock valued at $118,000 after purchasing an additional 2,814 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Progyny in the 1st quarter valued at $241,000. Finally, State of Wyoming boosted its holdings in shares of Progyny by 98.2% in the 4th quarter. State of Wyoming now owns 12,376 shares of the company's stock valued at $213,000 after purchasing an additional 6,132 shares in the last quarter. Institutional investors own 94.93% of the company's stock.

Insider Activity

In other news, Director Cheryl Scott sold 2,675 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total value of $59,037.25. Following the completion of the transaction, the director owned 14,112 shares of the company's stock, valued at approximately $311,451.84. This represents a 15.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.40% of the company's stock.

Analyst Upgrades and Downgrades

PGNY has been the topic of several recent research reports. Wall Street Zen raised Progyny from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Leerink Partners raised Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price objective on the stock in a report on Tuesday, July 8th. Canaccord Genuity Group cut their price objective on Progyny from $23.00 to $21.00 and set a "hold" rating on the stock in a report on Monday, May 12th. Truist Financial raised their price objective on Progyny from $24.00 to $27.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Finally, Leerink Partnrs raised Progyny from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 8th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Progyny presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.82.

Progyny Price Performance

PGNY traded up $0.56 during midday trading on Monday, reaching $23.05. 194,089 shares of the company's stock traded hands, compared to its average volume of 1,426,332. The firm has a fifty day moving average of $22.11 and a two-hundred day moving average of $22.12. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 40.41, a P/E/G ratio of 2.26 and a beta of 1.32. Progyny, Inc. has a 52 week low of $13.39 and a 52 week high of $26.76.

Progyny (NASDAQ:PGNY - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.28). The business had revenue of $324.04 million for the quarter, compared to the consensus estimate of $307.86 million. Progyny had a net margin of 4.33% and a return on equity of 10.90%. The company's revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 EPS. Sell-side analysts forecast that Progyny, Inc. will post 0.6 EPS for the current 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.