Fred Alger Management LLC Has $28.42 Million Holdings in Progyny, Inc. (NASDAQ:PGNY)

Fred Alger Management LLC trimmed its holdings in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 15.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,647,408 shares of the company's stock after selling 305,756 shares during the period. Fred Alger Management LLC owned about 1.93% of Progyny worth $28,418,000 as of its most recent SEC filing.

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

Progyny Trading Down 9.3 %

Shares of Progyny stock traded down $2.17 during mid-day trading on Friday, reaching $21.20. 3,566,405 shares of the stock were exchanged, compared to its average volume of 1,722,248. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 36.55, a price-to-earnings-growth ratio of 2.39 and a beta of 1.37. Progyny, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $30.42. The firm has a 50-day simple moving average of $21.95 and a 200 day simple moving average of $19.54.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.28). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business had revenue of $324.04 million during the quarter, compared to analyst estimates of $307.86 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The firm's revenue was up 16.5% compared to the same quarter last year. On average, research analysts predict that Progyny, Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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