Quantbot Technologies LP Sells 44,148 Shares of Progyny, Inc. (NASDAQ:PGNY)

Quantbot Technologies LP lowered its stake in Progyny, Inc. (NASDAQ:PGNY) by 33.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,316 shares of the company’s stock after selling 44,148 shares during the period. Quantbot Technologies LP’s holdings in Progyny were worth $1,489,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC increased its position in shares of Progyny by 1,355.0% during the fourth quarter. Signaturefd LLC now owns 1,455 shares of the company’s stock valued at $25,000 after buying an additional 1,355 shares during the period. Royce & Associates LP purchased a new position in shares of Progyny during the 4th quarter worth approximately $339,000. First Eagle Investment Management LLC bought a new position in shares of Progyny in the 4th quarter worth approximately $2,500,000. River Road Asset Management LLC purchased a new position in shares of Progyny in the 4th quarter valued at approximately $25,529,000. Finally, Amundi bought a new stake in shares of Progyny during the fourth quarter valued at approximately $102,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Progyny news, Chairman David J. Schlanger bought 150,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average cost of $14.68 per share, for a total transaction of $2,202,000.00. Following the completion of the transaction, the chairman now owns 228,269 shares of the company’s stock, valued at $3,350,988.92. This represents a 191.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.30% of the stock is owned by corporate insiders.

Progyny Stock Performance

NASDAQ PGNY opened at $22.05 on Tuesday. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 38.02, a PEG ratio of 2.39 and a beta of 1.41. The stock has a 50-day moving average of $21.96 and a 200 day moving average of $18.54. Progyny, Inc. has a one year low of $13.39 and a one year high of $38.98.

Analysts Set New Price Targets

A number of research firms have issued reports on PGNY. Canaccord Genuity Group increased their price objective on Progyny from $17.00 to $23.00 and gave the stock a “hold” rating in a report on Friday, February 28th. JPMorgan Chase & Co. lifted their price target on shares of Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Bank of America upped their price target on Progyny from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.82.

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.