Maryland State Retirement & Pension System Sells 3,379 Shares of Progyny, Inc. (NASDAQ:PGNY)

Maryland State Retirement & Pension System lowered its stake in shares of Progyny, Inc. (NASDAQ:PGNY) by 13.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,569 shares of the company’s stock after selling 3,379 shares during the period. Maryland State Retirement & Pension System’s holdings in Progyny were worth $482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PGNY. Barclays PLC raised its position in shares of Progyny by 95.7% during the fourth quarter. Barclays PLC now owns 1,382,205 shares of the company’s stock valued at $23,843,000 after buying an additional 676,048 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of Progyny during the fourth quarter valued at approximately $11,265,000. BNP Paribas Financial Markets bought a new stake in shares of Progyny during the fourth quarter valued at approximately $10,557,000. First Sabrepoint Capital Management LP purchased a new position in shares of Progyny in the fourth quarter valued at $9,660,000. Finally, Voloridge Investment Management LLC grew its holdings in shares of Progyny by 85.5% in the fourth quarter. Voloridge Investment Management LLC now owns 1,197,993 shares of the company’s stock valued at $20,665,000 after purchasing an additional 552,066 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

Insider Buying and Selling at Progyny

In other news, Director Cheryl Scott sold 2,675 shares of Progyny stock in a transaction on 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 sale, the director directly owned 14,112 shares in the company, valued at approximately $311,451.84. This trade represents a 15.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin K. Gordon sold 2,500 shares of Progyny stock in a transaction on Monday, August 11th. The stock was sold at an average price of $22.04, for a total value of $55,100.00. Following the sale, the director owned 12,501 shares of the company’s stock, valued at approximately $275,522.04. This trade represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PGNY has been the subject of a number of recent research reports. Truist Financial raised their target price on shares of Progyny from $24.00 to $27.00 and gave the company a “hold” rating in a report on Thursday, July 17th. Wall Street Zen raised shares of Progyny from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Leerink Partners raised shares of Progyny from a “market perform” rating to an “outperform” rating and set a $28.00 target price for the company in a report on Tuesday, July 8th. Raymond James Financial set a $28.00 target price on shares of Progyny in a report on Friday, August 8th. Finally, Canaccord Genuity Group cut their target price on shares of Progyny from $23.00 to $21.00 and set a “hold” rating for the company in a report on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.90.

Progyny Stock Up 3.8%

NASDAQ PGNY opened at $23.40 on Friday. The company has a fifty day moving average of $22.41 and a two-hundred day moving average of $22.18. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 39.66, a PEG ratio of 2.20 and a beta of 1.32. Progyny, Inc. has a 52 week low of $13.39 and a 52 week high of $26.76.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.23). Progyny had a return on equity of 10.69% and a net margin of 4.28%. The firm had revenue of $332.87 million for the quarter, compared to analysts’ expectations of $315.70 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities research analysts anticipate that Progyny, Inc. will post 0.6 EPS for the current 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.