GSA Capital Partners LLP Takes Position in Progyny, Inc. (NASDAQ:PGNY)

GSA Capital Partners LLP bought a new position in shares of Progyny, Inc. (NASDAQ:PGNY) in the third quarter, Holdings Channel reports. The fund bought 88,527 shares of the company’s stock, valued at approximately $1,484,000.

A number of other hedge funds have also modified their holdings of PGNY. Allspring Global Investments Holdings LLC boosted its position in Progyny by 9.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,260 shares of the company’s stock worth $239,000 after acquiring an additional 543 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Progyny during the 1st quarter valued at $213,000. Swiss National Bank lifted its position in shares of Progyny by 0.6% in the first quarter. Swiss National Bank now owns 170,200 shares of the company’s stock worth $6,493,000 after buying an additional 1,000 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Progyny by 15.0% during the 1st quarter. Russell Investments Group Ltd. now owns 135,904 shares of the company’s stock worth $5,185,000 after acquiring an additional 17,701 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in Progyny by 4.6% during the first quarter. ProShare Advisors LLC now owns 18,346 shares of the company’s stock valued at $700,000 after purchasing an additional 804 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Progyny Trading Down 19.1 %

NASDAQ:PGNY opened at $13.90 on Thursday. Progyny, Inc. has a 1 year low of $13.77 and a 1 year high of $42.08. The stock has a 50-day moving average price of $17.69 and a two-hundred day moving average price of $23.56. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.62 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.26). The business had revenue of $286.63 million during the quarter, compared to analyst estimates of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 10.87%. Progyny’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 earnings per share. Sell-side analysts forecast that Progyny, Inc. will post 0.64 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on PGNY. Canaccord Genuity Group downgraded Progyny from a “buy” rating to a “hold” rating and decreased their target price for the company from $37.00 to $24.00 in a research note on Wednesday, August 7th. JMP Securities lowered Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Leerink Partnrs cut shares of Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 target price on shares of Progyny in a research note on Tuesday, October 1st. Finally, Canaccord Genuity Group dropped their price objective on shares of Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Progyny presently has a consensus rating of “Hold” and an average price target of $26.50.

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.