FM Investments LLC buys 11,394 shares of Progyny, Inc. (NASDAQ:PGNY)

VaselineAugust 31, 2024

0 4 minutes read

FM Investments LLC purchased a new position in Progyny, Inc. (NASDAQ:PGNY – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 11,394 shares of the company’s stock, valued at approximately $326,000.

A number of other hedge funds have also recently bought and sold shares of the company. Caprock Group LLC lifted its position in Progyny by 5.3% in the first quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock worth $240,000 after purchasing an additional 319 shares during the last quarter. M&G Investment Management Ltd. boosted its holdings in shares of Progyny by 1.2% during the 4th quarter. M&G Investment Management Ltd. now owns 32,980 shares of the company’s stock worth $1,220,000 after acquiring an additional 387 shares during the period. shares in the last quarter. FourThought Financial Partners LLC boosted its holdings in shares of Progyny by 1.3% in the fourth quarter. FourThought Financial Partners LLC now owns 32,683 shares of the company’s stock worth $1,215,000 after purchasing an additional 423 shares during the last quarter. RiverPark Advisors LLC boosted its stake in shares of Progyny by 9.6% during the 2nd quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock worth $155,000 after purchasing an additional 474 shares during the period. Finally, State of Michigan Retirement System grew its holdings in Progyny by 2.5% in the first quarter. State of Michigan Retirement System now owns 20,479 shares of the company’s stock valued at $781,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s shares.

Insider buying and selling

In other Progyny news, Director Cheryl Scott sold 1,462 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $28.39, for a total transaction of $41,506.18. Following the sale, the director now owns 10,098 shares of the company’s stock, valued at approximately $286,682.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In related news, Chairman Michael E. Sturmer sold 9,030 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total transaction of $270,900.00. Following the completion of the sale, the chairman now owns 362,583 shares of the company’s stock, valued at $10,877,490. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cheryl Scott sold 1,462 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $28.39, for a total transaction of $41,506.18. Following the completion of the sale, the director now owns 10,098 shares of the company’s stock, valued at $286,682.22. The disclosure for this sale can be found here. 12.30% of shares are currently owned by insiders.

Progyny price performance

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Shares of PGNY stock opened at $23.49 on Friday. Progyny, Inc. has a 1 year low of $19.60 and a 1 year high of $42.08. The company has a 50-day moving average price of $25.65 and a 200-day moving average price of $30.34. The company has a market cap of $2.24 billion, a P/E ratio of 38.51, a PEG ratio of 1.73 and a beta of 1.46.

Progyny (NASDAQ:PGNY – Get Free Report ) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The business had revenue of $304.09 million during the quarter, compared to analyst estimates of $305.32 million. In the same quarter last year, the business posted EPS of $0.15. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts anticipate that Progyny, Inc. will post 0.63 earnings per share for the current fiscal year.

Analysts set new price targets

Several research analysts have issued reports on the company. Truist Financial dropped their target price on Progyny from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Leerink Partners cut Progyny from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. JMP Securities reduced their price objective on Progyny from $36.00 to $31.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 7th. Canaccord Genuity Group reiterated a “hold” rating and set a $24.00 target price (down from $37.00) on shares of Progyny in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Progyny from $41.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.90.

Read our latest report on PGNY

Progyny Company Profile

(Free report)

Progyny, Inc, a benefits management company, specializes in fertility and family building benefit solutions in the United States. Its fertility benefits solution includes differentiated benefit plan design, personalized concierge-style member support services and a selective network of fertility specialists.