Cheryl Scott Sells 2,675 Shares of Progyny, Inc. (NASDAQ:PGNY) Stock

Progyny, Inc. (NASDAQ:PGNY) Director Cheryl Scott sold 2,675 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total transaction of $59,037.25. Following the completion of the transaction, the director now owns 14,112 shares of the company’s stock, valued at approximately $311,451.84. The trade was a 15.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Progyny Stock Down 2.4%

NASDAQ:PGNY opened at $21.03 on Friday. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 36.26, a PEG ratio of 2.39 and a beta of 1.32. The company’s 50 day moving average price is $21.96 and its 200-day moving average price is $20.58. Progyny, Inc. has a 52 week low of $13.39 and a 52 week high of $30.42.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.28). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The business had revenue of $324.04 million during the quarter, compared to the consensus estimate of $307.86 million. During the same period last year, the company posted $0.17 earnings per share. The business’s revenue was up 16.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Progyny, Inc. will post 0.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Militia Capital Partners LP raised its position in Progyny by 100.0% in the 1st quarter. Militia Capital Partners LP now owns 2,000 shares of the company’s stock worth $45,000 after buying an additional 1,000 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Progyny by 243.6% in the first quarter. Acadian Asset Management LLC now owns 205,650 shares of the company’s stock worth $4,589,000 after acquiring an additional 145,802 shares during the period. Bayforest Capital Ltd purchased a new position in shares of Progyny during the first quarter valued at approximately $344,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Progyny by 6.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company’s stock valued at $5,630,000 after purchasing an additional 14,297 shares during the period. Finally, Caxton Associates LLP purchased a new stake in Progyny in the first quarter worth approximately $555,000. 94.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of Progyny from $23.00 to $21.00 and set a “hold” rating on the stock in a report on Monday, May 12th. BTIG Research upgraded Progyny from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.45.

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.