Y Intercept Hong Kong Ltd Takes Position in Progyny, Inc. (NASDAQ:PGNY)

Key Points

• Y Intercept Hong Kong Ltd invested approximately $668,000 in Progyny, purchasing nearly 30,000 shares during the first quarter.
• Progyny's shares have received increased attention from analysts, with ratings varying from "hold" to "strong buy," reflecting a consensus rating of "Moderate Buy" and an average price target of $24.82.
• Despite a revenue increase of 16.5% year-over-year, Progyny reported a missed earnings estimate for its latest quarter, posting earnings per share of $0.17 against estimates of $0.45.

Y Intercept Hong Kong Ltd acquired a new stake in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,886 shares of the company's stock, valued at approximately $668,000.

Other large investors have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System raised its position in shares of Progyny by 0.7% during the 1st quarter. New York State Teachers Retirement System now owns 73,200 shares of the company's stock worth $1,635,000 after purchasing an additional 500 shares during the period. Voya Investment Management LLC raised its position in shares of Progyny by 1.4% during the 4th quarter. Voya Investment Management LLC now owns 51,792 shares of the company's stock worth $893,000 after purchasing an additional 701 shares during the period. F M Investments LLC increased its position in Progyny by 13.0% in the 4th quarter. F M Investments LLC now owns 20,420 shares of the company's stock valued at $352,000 after acquiring an additional 2,342 shares during the period. First Trust Advisors LP increased its position in Progyny by 13.1% in the 4th quarter. First Trust Advisors LP now owns 24,105 shares of the company's stock valued at $416,000 after acquiring an additional 2,794 shares during the period. Finally, Covestor Ltd increased its position in Progyny by 69.4% in the 4th quarter. Covestor Ltd now owns 6,868 shares of the company's stock valued at $118,000 after acquiring an additional 2,814 shares during the period. 94.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Cheryl Scott sold 2,675 shares of Progyny 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 transaction, the director owned 14,112 shares of the company's stock, valued at approximately $311,451.84. This trade represents a 15.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.40% of the company's stock.

Progyny Trading Up 2.9%

Shares of NASDAQ PGNY traded up $0.67 during mid-day trading on Wednesday, reaching $23.50. The company had a trading volume of 702,486 shares, compared to its average volume of 995,213. The stock has a market cap of $2.01 billion, a PE ratio of 41.23, a P/E/G ratio of 2.29 and a beta of 1.31. The company has a 50-day moving average price of $22.02 and a two-hundred day moving average price of $22.06. Progyny, Inc. has a 1-year low of $13.39 and a 1-year high of $28.99.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.17 earnings per share 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 analysts' expectations of $307.86 million. Progyny had a return on equity of 10.90% and a net margin of 4.33%. The company's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 EPS. On average, research analysts expect that Progyny, Inc. will post 0.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on PGNY shares. Leerink Partners upgraded Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 target price on the stock in a research report on Tuesday, July 8th. Truist Financial set a $27.00 price objective on shares of Progyny and gave the company a "hold" rating in a research note on Thursday, July 17th. Wall Street Zen upgraded shares of Progyny from a "hold" rating to a "buy" rating in a research note on Saturday. Canaccord Genuity Group cut their price objective 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. Finally, Leerink Partnrs upgraded shares of Progyny from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 8th. Five investment 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 company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $24.82.

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.