Quantbot Technologies LP Takes $2.19 Million Position in Progyny, Inc. (NASDAQ:PGNY)

Quantbot Technologies LP purchased a new position in shares of Progyny, Inc. (NASDAQ:PGNY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 130,464 shares of the company’s stock, valued at approximately $2,187,000. Quantbot Technologies LP owned 0.14% of Progyny at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PGNY. RiverPark Advisors LLC lifted its stake in Progyny by 9.6% in the second quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock valued at $155,000 after buying an additional 474 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Progyny by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock worth $696,000 after acquiring an additional 609 shares during the period. State of New Jersey Common Pension Fund D lifted its position in Progyny by 1.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 70,717 shares of the company’s stock valued at $2,023,000 after purchasing an additional 787 shares during the last quarter. Quarry LP boosted its stake in Progyny by 1,900.0% during the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after purchasing an additional 836 shares during the period. Finally, Creative Planning grew its position in Progyny by 13.8% in the 2nd quarter. Creative Planning now owns 10,564 shares of the company’s stock worth $302,000 after purchasing an additional 1,283 shares during the last quarter. Institutional investors own 94.93% of the company’s stock.

Progyny Stock Performance

Shares of NASDAQ PGNY opened at $15.48 on Friday. The business’s 50-day simple moving average is $15.86 and its 200-day simple moving average is $22.35. Progyny, Inc. has a 52 week low of $13.39 and a 52 week high of $42.08. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 1.82 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last released its earnings results 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 return on equity of 11.36% and a net margin of 5.03%. The firm had revenue of $286.63 million for the quarter, compared to analyst estimates of $296.85 million. During the same period in the prior year, the firm earned $0.16 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts forecast that Progyny, Inc. will post 0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

PGNY has been the subject of several analyst reports. Bank of America reduced their price objective on Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. JPMorgan Chase & Co. decreased their price target on Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, September 19th. JMP Securities cut shares of Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Truist Financial reiterated a “hold” rating and issued a $19.00 target price (down previously from $26.00) on shares of Progyny in a research report on Wednesday, November 13th. Finally, Leerink Partners dropped their price target on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research report on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.42.

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.