Mackenzie Financial Corp Makes New Investment in Progyny, Inc. (NASDAQ:PGNY)

Mackenzie Financial Corp bought a new stake in Progyny, Inc. (NASDAQ:PGNY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,536 shares of the company’s stock, valued at approximately $444,000.

Other hedge funds also recently modified their holdings of the company. TFC Financial Management Inc. purchased a new stake in Progyny in the 1st quarter valued at $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Progyny in the second quarter valued at about $44,000. Financial Management Professionals Inc. bought a new position in shares of Progyny during the first quarter valued at about $52,000. Cambridge Trust Co. purchased a new position in Progyny during the first quarter worth about $95,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Progyny during the second quarter worth about $97,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Insiders Place Their Bets

In related news, President Michael E. Sturmer sold 9,030 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total transaction of $270,900.00. Following the completion of the transaction, the president now directly owns 362,583 shares in the company, valued at $10,877,490. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.30% of the company’s stock.

Analyst Ratings Changes

PGNY has been the topic of several recent analyst reports. Leerink Partnrs cut shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. BTIG Research downgraded Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. Canaccord Genuity Group downgraded shares of Progyny from a “buy” rating to a “hold” rating and cut their price target for the stock from $37.00 to $24.00 in a report on Wednesday, August 7th. Leerink Partners decreased their price objective on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. Seven 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.com, Progyny has a consensus rating of “Hold” and an average price target of $27.73.

Progyny Price Performance

NASDAQ:PGNY opened at $16.30 on Friday. Progyny, Inc. has a 1 year low of $13.93 and a 1 year high of $42.08. The stock’s fifty day moving average price is $21.68 and its two-hundred day moving average price is $27.35. The company has a market cap of $1.55 billion, a P/E ratio of 26.72, a P/E/G ratio of 1.58 and a beta of 1.43.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $304.09 million for the quarter, compared to analysts’ expectations of $305.32 million. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 EPS. On average, analysts expect that Progyny, Inc. will post 0.64 earnings per share for the current fiscal year.

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.