Wesbanco Bank Inc. Acquires Shares of 28,169 Progyny, Inc. (NASDAQ:PGNY)

Wesbanco Bank Inc. bought a new position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 28,169 shares of the company's stock, valued at approximately $1,075,000.

A number of other large investors have also recently made changes to their positions in the stock. Parkside Financial Bank & Trust raised its position in shares of Progyny by 9.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,096 shares of the company's stock worth $115,000 after acquiring an additional 264 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Progyny by 1.5% during the third quarter. Arizona State Retirement System now owns 22,848 shares of the company's stock worth $777,000 after purchasing an additional 330 shares during the period. RiverPark Advisors LLC boosted its position in Progyny by 54.0% in the fourth quarter. RiverPark Advisors LLC now owns 1,067 shares of the company's stock valued at $40,000 after buying an additional 374 shares during the last quarter. M&G Investment Management Ltd. increased its holdings in Progyny by 1.2% in the 4th quarter. M&G Investment Management Ltd. now owns 32,980 shares of the company's stock worth $1,220,000 after buying an additional 387 shares during the period. Finally, Xponance Inc. raised its holdings in shares of Progyny by 3.6% during the third quarter. Xponance Inc. now owns 11,629 shares of the company's stock worth $396,000 after purchasing an additional 399 shares during the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman David J. Schlanger sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $38.50, for a total transaction of $770,000.00. Following the completion of the sale, the chairman now owns 86,312 shares in the company, valued at approximately $3,323,012. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman David J. Schlanger sold 1,000 shares of the firm's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $37.52, for a total transaction of $37,520.00. Following the completion of the sale, the chairman now directly owns 83,631 shares of the company's stock, valued at approximately $3,137,835.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David J. Schlanger sold 20,000 shares of the business's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $38.50, for a total transaction of $770,000.00. Following the completion of the sale, the chairman now owns 86,312 shares in the company, valued at $3,323,012. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,030 shares of company stock valued at $4,714,385. 12.30% of the stock is currently owned by insiders.

Progyny Trading Down 1.1 %

PGNY stock traded down $0.35 during mid-day trading on Friday, reaching $31.72. The company's stock had a trading volume of 760,486 shares, compared to its average volume of 683,382. The company's 50 day moving average is $35.10 and its two-hundred day moving average is $35.58. Progyny, Inc. has a fifty-two week low of $29.44 and a fifty-two week high of $44.95. The stock has a market cap of $3.05 billion, a PE ratio of 51.16, a P/E/G ratio of 1.33 and a beta of 1.51.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.09 by $0.04. The firm had revenue of $269.94 million during the quarter, compared to analysts' expectations of $274.08 million. Progyny had a return on equity of 12.64% and a net margin of 5.70%. The business's revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 earnings per share. On average, analysts forecast that Progyny, Inc. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. KeyCorp dropped their target price on Progyny from $45.00 to $43.00 and set an "overweight" rating on the stock in a report on Wednesday, February 28th. Truist Financial reissued a "buy" rating and issued a $46.00 price objective on shares of Progyny in a report on Wednesday, April 17th. Leerink Partnrs reissued an "outperform" rating on shares of Progyny in a report on Monday, February 26th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $48.00 price objective on shares of Progyny in a report on Wednesday, February 28th. Finally, SVB Leerink began coverage on shares of Progyny in a research note on Monday, February 26th. They set an "outperform" rating and a $49.00 target price for the company. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Progyny presently has an average rating of "Buy" and a consensus target price of $48.30.

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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