Rhumbline Advisers Sells 2,669 Shares of Progyny, Inc. (NASDAQ:PGNY)

Rhumbline Advisers reduced its holdings in Progyny, Inc. (NASDAQ:PGNY) by 1.2% during the 4th quarter, HoldingsChannel reports. The firm owned 222,182 shares of the company’s stock after selling 2,669 shares during the quarter. Rhumbline Advisers’ holdings in Progyny were worth $3,833,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. increased its position in Progyny by 47.5% in the fourth quarter. Pacer Advisors Inc. now owns 3,676,200 shares of the company’s stock worth $63,414,000 after purchasing an additional 1,183,558 shares during the period. State Street Corp increased its stake in shares of Progyny by 4.5% during the 3rd quarter. State Street Corp now owns 3,113,654 shares of the company’s stock worth $52,185,000 after purchasing an additional 134,861 shares during the last quarter. Invenomic Capital Management LP bought a new stake in shares of Progyny in the 3rd quarter valued at about $29,509,000. Fort Washington Investment Advisors Inc. OH lifted its stake in Progyny by 90.1% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company’s stock valued at $25,319,000 after purchasing an additional 695,740 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its holdings in Progyny by 15.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock worth $16,366,000 after purchasing an additional 132,672 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Progyny

In related news, Chairman David J. Schlanger acquired 150,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average price of $14.68 per share, with a total value of $2,202,000.00. Following the transaction, the chairman now owns 228,269 shares of the company’s stock, valued at approximately $3,350,988.92. This trade represents a 191.65 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Peter Anevski bought 209,500 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average cost of $14.48 per share, with a total value of $3,033,560.00. Following the completion of the transaction, the chief executive officer now owns 441,463 shares in the company, 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 company insiders.

Progyny Stock Performance

NASDAQ PGNY opened at $22.53 on Friday. The company has a market cap of $1.92 billion, a PE ratio of 38.85, a P/E/G 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. The firm’s 50 day moving average price is $20.68 and its 200-day moving average price is $18.69.

Progyny Profile

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.