GAMMA Investing LLC Has $2.69 Million Stock Position in Progyny, Inc. (NASDAQ:PGNY)

GAMMA Investing LLC grew its position in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 7,359.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,167 shares of the company's stock after acquiring an additional 118,556 shares during the period. GAMMA Investing LLC owned 0.14% of Progyny worth $2,685,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PGNY. River Road Asset Management LLC acquired a new position in Progyny during the 4th quarter worth $25,529,000. Barclays PLC lifted its holdings in Progyny by 95.7% during the 4th quarter. Barclays PLC now owns 1,382,205 shares of the company's stock worth $23,843,000 after buying an additional 676,048 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Progyny during the 4th quarter worth $11,265,000. BNP Paribas Financial Markets acquired a new position in Progyny during the 4th quarter worth $10,557,000. Finally, First Sabrepoint Capital Management LP acquired a new position in Progyny during the 4th quarter worth $9,660,000. Institutional investors own 94.93% of the company's stock.

Progyny Trading Up 0.1%

Shares of PGNY stock traded up $0.03 on Monday, reaching $21.06. The company had a trading volume of 879,553 shares, compared to its average volume of 1,707,968. The stock has a market cap of $1.81 billion, a PE ratio of 36.31, a PEG ratio of 2.39 and a beta of 1.32. The company has a 50-day moving average of $21.95 and a 200-day moving average of $20.69. Progyny, Inc. has a 12 month low of $13.39 and a 12 month high of $30.42.

Progyny (NASDAQ:PGNY - Get Free Report) last announced 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 company had revenue of $324.04 million during the quarter, compared to the consensus estimate of $307.86 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. The business's revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. Sell-side analysts anticipate that Progyny, Inc. will post 0.6 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on PGNY shares. BTIG Research raised Progyny from a "neutral" rating to a "buy" rating and set a $28.00 price objective on the stock in a report on Monday, March 31st. Canaccord Genuity Group reduced 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. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Progyny currently has an average rating of "Hold" and an average price target of $23.45.

Insider Activity

In other news, Director Cheryl Scott sold 2,675 shares of the company's stock in a transaction dated 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 now directly owns 14,112 shares of the company's stock, valued at $311,451.84. This represents a 15.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.40% of the stock is currently owned by company insiders.

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.