Tower Research Capital LLC TRC Has $100,000 Stake in Progyny, Inc. (NASDAQ:PGNY)

Tower Research Capital LLC TRC raised its position in Progyny, Inc. (NASDAQ:PGNY) by 42.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,105 shares of the company’s stock after buying an additional 924 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Progyny were worth $100,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE increased its stake in Progyny by 35.3% in the first quarter. US Bancorp DE now owns 11,979 shares of the company’s stock valued at $385,000 after acquiring an additional 3,126 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Progyny by 4.6% in the first quarter. Russell Investments Group Ltd. now owns 174,072 shares of the company’s stock valued at $5,591,000 after buying an additional 7,612 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Progyny by 210.7% during the first quarter. Federated Hermes Inc. now owns 23,724 shares of the company’s stock worth $762,000 after buying an additional 16,089 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Progyny by 21.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,997 shares of the company’s stock worth $321,000 after buying an additional 1,765 shares during the period. Finally, Bailard Inc. acquired a new position in Progyny in the 1st quarter valued at approximately $267,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Peter Anevski sold 16,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $40.97, for a total value of $655,520.00. Following the transaction, the chief executive officer now directly owns 215,924 shares of the company’s stock, valued at approximately $8,846,406.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Progyny news, Director Cheryl Scott sold 1,170 shares of the firm’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $37.27, for a total value of $43,605.90. Following the completion of the sale, the director now directly owns 9,744 shares of the company’s stock, valued at $363,158.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter Anevski sold 16,000 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $40.97, for a total value of $655,520.00. Following the completion of the sale, the chief executive officer now owns 215,924 shares in the company, valued at $8,846,406.28. The disclosure for this sale can be found here. Insiders sold a total of 3,013,152 shares of company stock valued at $123,552,635 in the last ninety days. 14.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PGNY shares. Cantor Fitzgerald lifted their price objective on Progyny from $44.00 to $45.00 in a research report on Tuesday, May 9th. BTIG Research started coverage on shares of Progyny in a research report on Monday, May 22nd. They set a “buy” rating and a $50.00 target price on the stock. KeyCorp raised their price target on shares of Progyny from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, August 4th. Truist Financial upped their price objective on shares of Progyny from $48.00 to $52.00 and gave the company a “buy” rating in a report on Friday, August 11th. Finally, Bank of America boosted their target price on Progyny from $48.00 to $50.00 in a research report on Tuesday, May 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.00.

Progyny Stock Performance

Shares of PGNY stock opened at $37.37 on Monday. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 76.27, a PEG ratio of 1.64 and a beta of 1.51. Progyny, Inc. has a 52-week low of $28.03 and a 52-week high of $45.98. The company has a 50-day simple moving average of $38.81 and a two-hundred day simple moving average of $36.33.

Progyny (NASDAQ:PGNY) last released its earnings results on Thursday, August 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. The company had revenue of $279.40 million during the quarter, compared to analyst estimates of $261.91 million. Progyny had a return on equity of 12.19% and a net margin of 5.15%. Progyny’s quarterly revenue was up 43.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. On average, sell-side analysts forecast that Progyny, Inc. will post 0.54 EPS for the current fiscal year.

Progyny Company Profile

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions for employers 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.