Rhumbline Advisers Lowers Stock Position in Progyny, Inc. (NASDAQ:PGNY)

Rhumbline Advisers trimmed its position in Progyny, Inc. (NASDAQ:PGNY) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,182 shares of the company’s stock after selling 2,669 shares during the quarter. Rhumbline Advisers owned about 0.26% of Progyny worth $3,833,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PGNY. Entropy Technologies LP increased its holdings in shares of Progyny by 5.5% in the fourth quarter. Entropy Technologies LP now owns 47,883 shares of the company’s stock worth $826,000 after purchasing an additional 2,499 shares during the last quarter. Caitlin John LLC grew its holdings in Progyny by 2,974.8% during the 4th quarter. Caitlin John LLC now owns 3,290 shares of the company’s stock valued at $57,000 after buying an additional 3,183 shares in the last quarter. Vanderbilt University bought a new stake in Progyny in the 4th quarter worth approximately $254,000. Guidance Capital Inc. purchased a new stake in shares of Progyny during the 4th quarter worth approximately $380,000. Finally, Pacer Advisors Inc. boosted its position in shares of Progyny by 47.5% during the 4th quarter. Pacer Advisors Inc. now owns 3,676,200 shares of the company’s stock valued at $63,414,000 after acquiring an additional 1,183,558 shares during the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Progyny news, Chairman David J. Schlanger bought 150,000 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were bought at an average cost of $14.68 per share, with a total value of $2,202,000.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Peter Anevski acquired 209,500 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $14.48 per share, for a total transaction of $3,033,560.00. Following the purchase, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at $6,392,384.24. This represents a 90.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PGNY. Barclays reduced their target price on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. JPMorgan Chase & Co. boosted their price objective on Progyny from $17.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Truist Financial reaffirmed a “hold” rating and issued a $19.00 price objective (down from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Bank of America boosted their target price on Progyny from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Canaccord Genuity Group increased their price target on Progyny from $17.00 to $23.00 and gave the company a “hold” rating in a report on Friday. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Progyny has an average rating of “Hold” and a consensus target price of $24.82.

Progyny Stock Down 1.5 %

PGNY opened at $22.53 on Friday. The business’s 50 day moving average is $20.68 and its two-hundred day moving average is $18.69. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 38.85, a price-to-earnings-growth ratio of 2.39 and a beta of 1.34. Progyny, Inc. has a 52 week low of $13.39 and a 52 week high of $38.98.

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.