State of Alaska Department of Revenue Cuts Stock Position in Progyny, Inc. (NASDAQ:PGNY)

State of Alaska Department of Revenue decreased its position in shares of Progyny, Inc. (NASDAQ:PGNY) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,049 shares of the company’s stock after selling 1,054 shares during the period. State of Alaska Department of Revenue’s holdings in Progyny were worth $917,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Progyny in the 1st quarter valued at about $354,000. GAMMA Investing LLC raised its holdings in shares of Progyny by 233.9% during the first quarter. GAMMA Investing LLC now owns 5,379 shares of the company’s stock valued at $120,000 after acquiring an additional 3,768 shares during the period. Olstein Capital Management L.P. acquired a new stake in shares of Progyny during the first quarter valued at approximately $469,000. NBC Securities Inc. grew its position in Progyny by 97,037.5% during the first quarter. NBC Securities Inc. now owns 23,313 shares of the company’s stock valued at $520,000 after purchasing an additional 23,289 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Progyny by 423.8% in the fourth quarter. Mackenzie Financial Corp now owns 117,387 shares of the company’s stock worth $2,025,000 after acquiring an additional 94,978 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

Analyst Ratings Changes

PGNY has been the subject of several recent analyst reports. BTIG Research raised shares of Progyny from a “neutral” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Monday, March 31st. Canaccord Genuity Group decreased 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. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.45.

Insider Activity at Progyny

In other Progyny news, Director Cheryl Scott sold 2,675 shares of Progyny stock in a transaction on Wednesday, June 11th. The shares were 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 directly owns 14,112 shares of the company’s stock, valued at $311,451.84. The trade was a 15.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.40% of the stock is owned by company insiders.

Progyny Price Performance

Shares of NASDAQ:PGNY opened at $21.46 on Friday. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 37.65, a P/E/G ratio of 2.20 and a beta of 1.32. The firm’s 50 day simple moving average is $21.83 and its 200 day simple moving average is $20.95. Progyny, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $30.42.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.28). Progyny had a net margin of 4.33% and a return on equity of 10.90%. The business had revenue of $324.04 million during the quarter, compared to analyst estimates of $307.86 million. During the same quarter last year, the business earned $0.17 earnings per share. Progyny’s revenue for the quarter was up 16.5% on a year-over-year basis. Equities research analysts expect that Progyny, Inc. will post 0.6 earnings per share for the current year.

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.