Royce & Associates LP Purchases 18,262 Shares of Progyny, Inc. (NASDAQ:PGNY)

Key Points

• Royce & Associates LP increased its stake in Progyny, Inc. by 93% during the first quarter, owning 37,901 shares valued at approximately $847,000 after purchasing an additional 18,262 shares.
• Director Cheryl Scott sold 2,675 shares of Progyny at an average price of $22.07, resulting in a 15.93% decrease in her overall position in the company.
• Progyny reported a net margin of 4.33% and a revenue increase of 16.5% year-over-year, although it missed earnings per share estimates by $0.28.

Royce & Associates LP raised its holdings in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 93.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,901 shares of the company's stock after acquiring an additional 18,262 shares during the period. Royce & Associates LP's holdings in Progyny were worth $847,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Progyny in the first quarter valued at about $1,946,000. Y Intercept Hong Kong Ltd acquired a new position in Progyny in the first quarter valued at about $668,000. Guidance Capital Inc. grew its stake in Progyny by 13.7% in the first quarter. Guidance Capital Inc. now owns 25,018 shares of the company's stock valued at $581,000 after acquiring an additional 3,017 shares during the period. CWM LLC boosted its position in shares of Progyny by 268.8% during the first quarter. CWM LLC now owns 23,479 shares of the company's stock worth $525,000 after buying an additional 17,112 shares during the period. Finally, Cerity Partners LLC boosted its position in shares of Progyny by 116.9% during the first quarter. Cerity Partners LLC now owns 28,881 shares of the company's stock worth $645,000 after buying an additional 15,563 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.

Progyny Trading Down 4.0%

NASDAQ:PGNY traded down $0.94 on Friday, hitting $22.57. The company's stock had a trading volume of 331,507 shares, compared to its average volume of 1,428,686. The stock has a fifty day moving average of $22.08 and a two-hundred day moving average of $22.08. The firm has a market capitalization of $1.93 billion, a P/E ratio of 39.56, a price-to-earnings-growth ratio of 2.36 and a beta of 1.31. Progyny, Inc. has a one year low of $13.39 and a one year high of $27.15.

Progyny (NASDAQ:PGNY - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $324.04 million during 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%. Progyny's quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. As a group, sell-side analysts anticipate that Progyny, Inc. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Transactions at Progyny

In other Progyny news, 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 sale, the director owned 14,112 shares in the company, valued at $311,451.84. This represents a 15.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.40% of the stock is owned by corporate insiders.

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.