First Sabrepoint Capital Management LP Invests $9.66 Million in Progyny, Inc. (NASDAQ:PGNY)

First Sabrepoint Capital Management LP acquired a new position in Progyny, Inc. (NASDAQ:PGNY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 560,000 shares of the company's stock, valued at approximately $9,660,000. Progyny comprises 2.6% of First Sabrepoint Capital Management LP's portfolio, making the stock its 11th largest position. First Sabrepoint Capital Management LP owned about 0.66% of Progyny at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in shares of Progyny by 1,355.0% during the 4th quarter. Signaturefd LLC now owns 1,455 shares of the company's stock valued at $25,000 after purchasing an additional 1,355 shares during the last quarter. GAMMA Investing LLC increased its holdings in Progyny by 341.4% during the fourth quarter. GAMMA Investing LLC now owns 1,611 shares of the company's stock valued at $28,000 after buying an additional 1,246 shares during the period. Nisa Investment Advisors LLC increased its holdings in Progyny by 108.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,934 shares of the company's stock valued at $51,000 after buying an additional 1,526 shares during the period. Caitlin John LLC boosted its stake in Progyny by 2,974.8% in the fourth quarter. Caitlin John LLC now owns 3,290 shares of the company's stock valued at $57,000 after acquiring an additional 3,183 shares in the last quarter. Finally, Natixis acquired a new stake in shares of Progyny during the fourth quarter worth $69,000. Institutional investors own 94.93% of the company's stock.

Progyny Price Performance

Shares of PGNY stock traded down $2.17 during trading hours on Friday, reaching $21.20. 3,566,405 shares of the company were exchanged, compared to its average volume of 1,722,248. Progyny, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $30.42. The stock's fifty day moving average is $21.95 and its two-hundred day moving average is $19.56. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 2.39 and a beta of 1.37.

Progyny (NASDAQ:PGNY - Get Free Report) last released its 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 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 5.03% and a return on equity of 11.36%. The firm's revenue for the quarter was up 16.5% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS. On average, research analysts anticipate that Progyny, Inc. will post 0.6 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Bank of America boosted their target price on shares of Progyny from $21.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Canaccord Genuity Group increased their target price on shares of Progyny from $17.00 to $23.00 and gave the stock a "hold" rating in a report on Friday, February 28th. JPMorgan Chase & Co. raised their price objective on shares of Progyny from $17.00 to $23.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Finally, BTIG Research upgraded shares of Progyny from a "neutral" rating to a "buy" rating and set a $28.00 price target on the stock in a research note on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Progyny currently has an average rating of "Hold" and an average target price of $23.64.

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.