Cetera Investment Advisers Acquires New Position in Progyny, Inc. (NASDAQ:PGNY)

Cetera Investment Advisers acquired a new stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 42,313 shares of the company's stock, valued at approximately $945,000.

Several other institutional investors also recently modified their holdings of the business. Natixis bought a new position in Progyny in the fourth quarter valued at approximately $69,000. GAMMA Investing LLC raised its position in Progyny by 233.9% during the first quarter. GAMMA Investing LLC now owns 5,379 shares of the company's stock worth $120,000 after acquiring an additional 3,768 shares in the last quarter. State of Wyoming raised its position in shares of Progyny by 98.2% in the fourth 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 during the period. Cerity Partners LLC bought a new position in shares of Progyny in the fourth quarter valued at about $229,000. Finally, Quantessence Capital LLC bought a new position in Progyny during the fourth quarter worth about $243,000. Institutional investors and hedge funds own 94.93% of the company's stock.

Progyny Trading Up 3.8%

Shares of NASDAQ:PGNY traded up $0.85 during midday trading on Friday, reaching $23.40. The company had a trading volume of 1,010,100 shares, compared to its average volume of 1,130,149. The company's 50 day moving average price is $22.41 and its 200 day moving average price is $22.17. The stock has a market cap of $2.01 billion, a P/E ratio of 39.66, a P/E/G ratio of 2.29 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 data on Thursday, August 7th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.23). Progyny had a net margin of 4.28% and a return on equity of 10.69%. The business had revenue of $332.87 million for the quarter, compared to analysts' expectations of $315.70 million. During the same period last year, the company earned $0.17 earnings per share. Progyny's revenue for the quarter was up 9.5% compared to the same quarter last year. Research analysts forecast that Progyny, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Raymond James Financial set a $28.00 price objective on shares of Progyny in a research note on Friday, August 8th. Truist Financial lifted their target price on shares of Progyny from $24.00 to $27.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Cantor Fitzgerald restated an "overweight" rating and set a $28.00 price target (up previously from $26.00) on shares of Progyny in a report on Friday, August 8th. Canaccord Genuity Group lowered their price objective on shares of Progyny from $23.00 to $21.00 and set a "hold" rating for the company in a research note on Monday, May 12th. Finally, Leerink Partnrs upgraded shares of Progyny from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.90.

Insiders Place Their Bets

In other Progyny news, Director Kevin K. Gordon sold 2,500 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $22.04, for a total transaction of $55,100.00. Following the transaction, the director directly owned 12,501 shares in the company, valued at $275,522.04. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cheryl Scott sold 2,675 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total transaction of $59,037.25. Following the completion of the transaction, the director owned 14,112 shares in the company, valued at $311,451.84. This represents a 15.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.40% of the company's stock.

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.