Versor Investments LP Invests $1.05 Million in Progyny, Inc. $PGNY

Key Points

• Versor Investments LP has made a significant investment of $1.05 million in Progyny, acquiring approximately 47,098 shares, and now owns about 0.05% of the company.
• The stock has seen changes in analyst ratings, with price targets set between $21.00 and $28.00, indicating a generally optimistic outlook despite some "hold" ratings.
• Progyny recently reported earnings, missing analysts' estimates with an EPS of $0.19 compared to the expected $0.42, but noted a revenue increase of 9.5% year-over-year.

Versor Investments LP acquired a new position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 47,098 shares of the company's stock, valued at approximately $1,052,000. Versor Investments LP owned approximately 0.05% of Progyny at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Natixis acquired a new stake in shares of Progyny during the fourth quarter worth approximately $69,000. GAMMA Investing LLC increased its holdings in shares of 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 increased its holdings in shares of 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. acquired a new stake in shares of Progyny during the first quarter worth approximately $228,000. Finally, Cerity Partners LLC acquired a new stake in shares of Progyny during the fourth quarter worth approximately $229,000. Institutional investors and hedge funds own 94.93% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of Progyny from $23.00 to $21.00 and set a "hold" rating for the company in a report on Monday, May 12th. Truist Financial increased their price target on shares of Progyny from $24.00 to $27.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Raymond James Financial set a $28.00 price target on shares of Progyny in a research note on Friday, August 8th. Leerink Partners raised shares of Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price target on the stock in a research note on Tuesday, July 8th. Finally, Leerink Partnrs raised shares of 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 assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $24.90.

Insiders Place Their Bets

In related news, Director Kevin K. Gordon sold 2,500 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $22.04, for a total transaction of $55,100.00. Following the sale, the director directly owned 12,501 shares in the company, valued at $275,522.04. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Cheryl Scott sold 2,675 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total transaction of $59,037.25. Following the sale, the director owned 14,112 shares in the company, valued at approximately $311,451.84. The trade was a 15.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.40% of the company's stock.

Progyny Stock Performance

Shares of PGNY stock opened at $23.40 on Monday. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $26.76. The stock has a market cap of $2.01 billion, a PE ratio of 39.66, a PEG ratio of 2.29 and a beta of 1.32. The firm's 50 day moving average price is $22.41 and its two-hundred day moving average price is $22.16.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.23). Progyny had a net margin of 4.28% and a return on equity of 10.69%. The business had revenue of $332.87 million during the quarter, compared to the consensus estimate of $315.70 million. During the same period in the previous year, the business posted $0.17 earnings per share. Progyny's revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts predict that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

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.

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