Insider Buying: Progyny, Inc. (NASDAQ:PGNY) Chairman Purchases 150,000 Shares of Stock

Progyny, Inc. (NASDAQ:PGNY) Chairman David J. Schlanger purchased 150,000 shares of the stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $14.68 per share, for a total transaction of $2,202,000.00. Following the completion of the acquisition, the chairman now directly owns 228,269 shares in the company, valued at approximately $3,350,988.92. This trade represents a 191.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Progyny Trading Up 1.2 %

Shares of NASDAQ PGNY traded up $0.18 during trading hours on Thursday, hitting $14.71. 1,918,778 shares of the company traded hands, compared to its average volume of 1,423,054. Progyny, Inc. has a 12 month low of $13.39 and a 12 month high of $42.08. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 1.64 and a beta of 1.35. The company’s 50 day moving average price is $15.27 and its 200 day moving average price is $20.63.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group cut 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, November 13th. Leerink Partners cut their price objective on Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, September 19th. Jefferies Financial Group lowered their price target on shares of Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $17.00 price objective (down from $22.00) on shares of Progyny in a research note on Monday, December 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $25.00 price objective on shares of Progyny in a research report on Tuesday, October 1st. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Progyny currently has a consensus rating of “Hold” and an average price target of $25.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PGNY. Franklin Resources Inc. raised its stake in Progyny by 17.0% in the 3rd quarter. Franklin Resources Inc. now owns 48,248 shares of the company’s stock worth $759,000 after acquiring an additional 7,003 shares during the last quarter. Tidal Investments LLC grew its position in shares of Progyny by 67.7% in the third quarter. Tidal Investments LLC now owns 60,722 shares of the company’s stock valued at $1,018,000 after purchasing an additional 24,507 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Progyny by 56.5% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 826,726 shares of the company’s stock valued at $13,856,000 after purchasing an additional 298,314 shares during the last quarter. Barclays PLC increased its position in shares of Progyny by 530.4% during the third quarter. Barclays PLC now owns 706,157 shares of the company’s stock valued at $11,835,000 after acquiring an additional 594,140 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Progyny during the third quarter worth about $469,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

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.