Progyny, Inc. (NASDAQ:PGNY) Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP lessened its stake in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,622,129 shares of the company's stock after selling 138,577 shares during the quarter. Progyny makes up approximately 1.3% of Invenomic Capital Management LP's holdings, making the stock its 15th largest holding. Invenomic Capital Management LP owned 1.91% of Progyny worth $27,982,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PGNY. Vanguard Group Inc. lifted its position in 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 buying an additional 48,271 shares during the period. Pacer Advisors Inc. raised its stake in Progyny by 47.5% during the fourth quarter. Pacer Advisors Inc. now owns 3,676,200 shares of the company's stock worth $63,414,000 after purchasing an additional 1,183,558 shares during the period. River Road Asset Management LLC acquired a new position in shares of Progyny in the 4th quarter valued at $25,529,000. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Progyny by 90.1% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company's stock valued at $25,319,000 after buying an additional 695,740 shares during the period. Finally, Barclays PLC increased its holdings in shares of Progyny by 95.7% during the 4th quarter. Barclays PLC now owns 1,382,205 shares of the company's stock worth $23,843,000 after buying an additional 676,048 shares during the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Progyny Trading Up 0.8%

NASDAQ:PGNY traded up $0.18 on Wednesday, reaching $21.86. The stock had a trading volume of 1,061,256 shares, compared to its average volume of 1,715,099. The company has a 50-day moving average of $21.99 and a 200 day moving average of $19.64. The stock has a market cap of $1.87 billion, a P/E ratio of 37.69, a price-to-earnings-growth ratio of 2.39 and a beta of 1.37. Progyny, Inc. has a 12-month low of $13.39 and a 12-month high of $30.42.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its quarterly earnings results 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 5.03% and a return on equity of 11.36%. The business had revenue of $324.04 million during the quarter, compared to analysts' expectations of $307.86 million. During the same period in the prior year, the company posted $0.17 EPS. The company's revenue for the quarter was up 16.5% on a year-over-year basis. On average, equities analysts predict that Progyny, Inc. will post 0.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PGNY shares. JPMorgan Chase & Co. upped their price target on Progyny from $17.00 to $23.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Bank of America increased their target price on shares of Progyny from $21.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Canaccord Genuity Group reduced their price target on shares of Progyny from $23.00 to $21.00 and set a "hold" rating on the stock in a research report on Monday. Finally, BTIG Research raised shares of Progyny from a "neutral" rating to a "buy" rating and set a $28.00 target price on the stock in a research note on Monday, March 31st. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $23.45.

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.