Nisa Investment Advisors LLC Boosts Stock Holdings in Progyny, Inc. (NASDAQ:PGNY)

Nisa Investment Advisors LLC increased its holdings in Progyny, Inc. (NASDAQ:PGNY) by 108.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,934 shares of the company’s stock after buying an additional 1,526 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Progyny were worth $51,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PGNY. Squarepoint Ops LLC bought a new stake in shares of Progyny in the second quarter worth approximately $2,162,000. Millennium Management LLC boosted its stake in shares of Progyny by 77.8% in the 2nd quarter. Millennium Management LLC now owns 535,962 shares of the company’s stock worth $15,334,000 after buying an additional 234,590 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in Progyny during the second quarter valued at $444,000. Creative Planning lifted its holdings in Progyny by 13.8% in the second quarter. Creative Planning now owns 10,564 shares of the company’s stock valued at $302,000 after acquiring an additional 1,283 shares during the period. Finally, Quarry LP boosted its position in Progyny by 1,900.0% in the second quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after purchasing an additional 836 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Progyny Stock Performance

Shares of PGNY stock opened at $23.17 on Friday. The stock has a 50 day moving average price of $17.62 and a 200 day moving average price of $19.23. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $42.08. The firm has a market capitalization of $1.97 billion, a P/E ratio of 39.95, a P/E/G ratio of 2.32 and a beta of 1.31.

Progyny (NASDAQ:PGNY) last issued its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) 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 analysts’ expectations of $296.85 million. During the same period in the prior year, the firm posted $0.16 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Progyny, Inc. will post 0.6 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on PGNY. Canaccord Genuity Group reduced their price target 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. Truist Financial reaffirmed a “hold” rating and set a $19.00 target price (down from $26.00) on shares of Progyny in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price target on shares of Progyny from $17.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday. Bank of America reduced their target price on shares of Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Finally, Barclays lowered their price objective on Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $25.50.

Insider Activity

In other Progyny news, Chairman David J. Schlanger purchased 150,000 shares of Progyny stock in a transaction dated Thursday, December 26th. The stock was acquired at an average price of $14.68 per share, for a total transaction of $2,202,000.00. Following the acquisition, the chairman now owns 228,269 shares in the company, valued at $3,350,988.92. This trade represents a 191.65 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Peter Anevski purchased 209,500 shares of the stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $14.48 per share, with a total value of $3,033,560.00. Following the transaction, the chief executive officer now directly owns 441,463 shares in the company, valued at approximately $6,392,384.24. This trade represents a 90.32 % increase in their position. The disclosure for this purchase can be found here. Insiders own 12.30% 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.