Progyny, Inc. (NASDAQ:PGNY) Stock Holdings Lessened by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Progyny, Inc. by 82.7%, selling over 3 million shares, leaving it with 637,023 shares valued at approximately $14.23 million.
• Following a recent earnings report, Progyny missed EPS estimates by $0.28, but reported a revenue increase of 16.5% year-over-year, totaling $324.04 million.
• Analysts have mixed feelings about Progyny, with price targets ranging from $21.00 to $28.00, and consensus on a “Moderate Buy” rating, reflective of both caution and optimism in the stock's performance.

Pacer Advisors Inc. cut its holdings in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 82.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 637,023 shares of the company's stock after selling 3,039,177 shares during the quarter. Pacer Advisors Inc. owned about 0.74% of Progyny worth $14,231,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Progyny by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 8,692,132 shares of the company's stock worth $149,939,000 after acquiring an additional 48,271 shares during the period. Barclays PLC increased its stake in shares of Progyny by 95.7% during the fourth quarter. Barclays PLC now owns 1,382,205 shares of the company's stock worth $23,843,000 after acquiring an additional 676,048 shares during the period. Voloridge Investment Management LLC increased its stake in shares of Progyny by 85.5% during the fourth quarter. Voloridge Investment Management LLC now owns 1,197,993 shares of the company's stock worth $20,665,000 after acquiring an additional 552,066 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Progyny by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,027 shares of the company's stock worth $20,458,000 after acquiring an additional 74,740 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Progyny by 3.7% during the fourth quarter. Bank of America Corp DE now owns 952,777 shares of the company's stock worth $16,435,000 after acquiring an additional 33,668 shares during the period. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Progyny Trading Up 2.2%

NASDAQ PGNY traded up $0.51 during trading hours on Wednesday, reaching $23.34. 136,438 shares of the company traded hands, compared to its average volume of 1,434,185. Progyny, Inc. has a 12 month low of $13.39 and a 12 month high of $28.99. The stock has a market capitalization of $2.00 billion, a PE ratio of 40.95, a PEG ratio of 2.33 and a beta of 1.31. The company has a 50 day moving average of $21.98 and a two-hundred day moving average of $22.05.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.28). Progyny had a net margin of 4.33% and a return on equity of 10.90%. The company had revenue of $324.04 million for the quarter, compared to the consensus estimate of $307.86 million. During the same quarter last year, the company earned $0.17 earnings per share. The company's revenue was up 16.5% compared to the same quarter last year. On average, equities research analysts anticipate that Progyny, Inc. will post 0.6 earnings per share for the current year.

Insider Activity

In other news, Director Cheryl Scott sold 2,675 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $22.07, for a total value of $59,037.25. Following the transaction, the director directly owned 14,112 shares in the company, valued at approximately $311,451.84. This trade represents a 15.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 9.40% of the company's stock.

Analysts Set New Price Targets

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

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.