Peter Anevski Acquires 209,500 Shares of Progyny, Inc. (NASDAQ:PGNY) Stock

Progyny, Inc. (NASDAQ:PGNY) CEO Peter Anevski acquired 209,500 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $14.48 per share, with a total value of $3,033,560.00. Following the acquisition, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at $6,392,384.24. This represents a 90.32 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Progyny Price Performance

Shares of Progyny stock opened at $16.90 on Friday. Progyny, Inc. has a one year low of $13.39 and a one year high of $42.08. The business’s 50 day simple moving average is $15.23 and its two-hundred day simple moving average is $20.46. The stock has a market capitalization of $1.44 billion, a P/E ratio of 29.14, a price-to-earnings-growth ratio of 1.64 and a beta of 1.35.

Progyny (NASDAQ:PGNY) last issued its earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.26). The firm had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 earnings per share. Sell-side analysts expect that Progyny, Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on PGNY. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 price target on shares of Progyny in a research note on Tuesday, October 1st. JMP Securities lowered shares of Progyny from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 19th. Truist Financial restated a “hold” rating and set a $19.00 price target (down previously from $26.00) on shares of Progyny in a research report on Wednesday, November 13th. Canaccord Genuity Group cut their price objective on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. Finally, Barclays decreased their price objective on Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $25.00.

Hedge Funds Weigh In On Progyny

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP grew its stake in shares of Progyny by 1,900.0% in the second quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after purchasing an additional 836 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Progyny in the 2nd quarter worth approximately $44,000. Mendota Financial Group LLC purchased a new position in shares of Progyny during the third quarter valued at approximately $56,000. nVerses Capital LLC raised its holdings in shares of Progyny by 925.0% during the second quarter. nVerses Capital LLC now owns 4,100 shares of the company’s stock valued at $117,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Progyny in the third quarter worth $77,000. 94.93% of the stock is owned by institutional investors.

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.