Olstein Capital Management L.P. Makes New $469,000 Investment in Progyny, Inc. (NASDAQ:PGNY)

Olstein Capital Management L.P. purchased a new position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 21,000 shares of the company's stock, valued at approximately $469,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Signaturefd LLC boosted its stake in Progyny by 1,355.0% during the fourth quarter. Signaturefd LLC now owns 1,455 shares of the company's stock worth $25,000 after buying an additional 1,355 shares during the period. Natixis purchased a new stake in Progyny during the 4th quarter worth about $69,000. SBI Securities Co. Ltd. purchased a new stake in Progyny during the 4th quarter worth about $74,000. KBC Group NV increased its position in shares of Progyny by 84.6% in the 4th quarter. KBC Group NV now owns 4,669 shares of the company's stock valued at $81,000 after purchasing an additional 2,140 shares during the last quarter. Finally, Amundi acquired a new position in Progyny in the fourth quarter valued at $102,000. 94.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Progyny

In related news, Director Cheryl Scott sold 2,675 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total transaction of $59,037.25. Following the transaction, the director now directly owns 14,112 shares in the company, valued at $311,451.84. The trade was a 15.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 9.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PGNY. Canaccord Genuity Group dropped their price target on shares of Progyny from $23.00 to $21.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. BTIG Research raised Progyny from a "neutral" rating to a "buy" rating and set a $28.00 target price for the company in a research note on Monday, March 31st. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $23.45.

Progyny Stock Down 0.6%

PGNY stock traded down $0.14 during midday trading on Thursday, reaching $21.55. The company had a trading volume of 735,226 shares, compared to its average volume of 1,704,810. Progyny, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $30.42. The firm has a market capitalization of $1.85 billion, a PE ratio of 37.16, a P/E/G ratio of 2.39 and a beta of 1.32. The stock has a 50 day moving average price of $21.97 and a 200 day moving average price of $20.50.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.28). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business had revenue of $324.04 million during the quarter, compared to analyst estimates of $307.86 million. During the same quarter last year, the firm posted $0.17 EPS. The company's quarterly revenue was up 16.5% compared to the same quarter last year. Research analysts predict that Progyny, Inc. will post 0.6 EPS for the current year.

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.