Fox Run Management L.L.C. Buys Shares of 57,492 Progyny, Inc. $PGNY

Key Points

• Fox Run Management L.L.C. made a new investment in Progyny, acquiring 57,492 shares valued at approximately $1.284 million, bringing its total ownership to 0.07% of the company.
• Progyny reported Q2 earnings of $0.19 per share, missing analysts' estimates of $0.42, but achieved a revenue of $332.87 million, surpassing expectations of $315.70 million.
• The consensus analyst rating for Progyny is a "Moderate Buy"* with an average price target of $24.90, as various analysts have recently adjusted ratings between hold and outperform.

Fox Run Management L.L.C. bought a new position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 57,492 shares of the company's stock, valued at approximately $1,284,000. Fox Run Management L.L.C. owned approximately 0.07% of Progyny as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PGNY. Natixis purchased a new position in Progyny during the fourth quarter worth about $69,000. GAMMA Investing LLC grew 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 buying an additional 3,768 shares in the last quarter. State of Wyoming grew its position in Progyny by 98.2% during the fourth quarter. State of Wyoming now owns 12,376 shares of the company's stock worth $213,000 after buying an additional 6,132 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Progyny in the 1st quarter worth about $228,000. Finally, Cerity Partners LLC purchased a new position in shares of Progyny in the 4th quarter worth about $229,000. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Progyny Price Performance

PGNY traded up $0.38 during midday trading on Monday, reaching $23.78. 880,075 shares of the company's stock traded hands, compared to its average volume of 1,424,780. The firm has a fifty day moving average of $22.41 and a two-hundred day moving average of $22.16. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 40.31, 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 announced its earnings results on Thursday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.23). Progyny had a return on equity of 10.69% and a net margin of 4.28%. The firm had revenue of $332.87 million during the quarter, compared to the consensus estimate of $315.70 million. During the same period in the prior year, the company posted $0.17 EPS. The firm's revenue was up 9.5% on a year-over-year basis. Sell-side analysts forecast that Progyny, Inc. will post 0.6 EPS for the current year.

Insider Activity at Progyny

In related news, Director Kevin K. Gordon sold 2,500 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $22.04, for a total value of $55,100.00. Following the sale, the director owned 12,501 shares in the company, valued at $275,522.04. This represents a 16.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Cheryl Scott sold 2,675 shares of the company'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 value of $59,037.25. Following the completion of the sale, the director owned 14,112 shares in the company, valued at $311,451.84. The trade was a 15.93% decrease in their position. The disclosure for this sale can be found here. 9.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PGNY shares. Wall Street Zen upgraded Progyny from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Canaccord Genuity Group cut their price objective on Progyny from $23.00 to $21.00 and set a "hold" rating for the company in a report on Monday, May 12th. Raymond James Financial set a $28.00 price objective on Progyny in a report on Friday, August 8th. Leerink Partners raised Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 target price for the company in a research note on Tuesday, July 8th. Finally, Leerink Partnrs raised Progyny from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.90.

About Progyny

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.