Advisors Preferred LLC Takes $1.07 Million Position in Progyny, Inc. $PGNY

Advisors Preferred LLC purchased a new stake in Progyny, Inc. (NASDAQ:PGNY) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 50,350 shares of the company’s stock, valued at approximately $1,068,000. Advisors Preferred LLC owned 0.06% of Progyny as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in Progyny by 57.1% during the third quarter. Principal Financial Group Inc. now owns 704,267 shares of the company’s stock valued at $15,156,000 after buying an additional 256,078 shares during the period. Cresset Asset Management LLC boosted its position in Progyny by 715.3% during the 2nd quarter. Cresset Asset Management LLC now owns 85,053 shares of the company’s stock valued at $1,871,000 after acquiring an additional 74,621 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in Progyny by 88.0% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 56,196 shares of the company’s stock valued at $1,236,000 after acquiring an additional 26,310 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Progyny in the 2nd quarter valued at $327,000. Finally, Nomura Holdings Inc. bought a new position in shares of Progyny in the 2nd quarter worth $9,368,000. Institutional investors own 94.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PGNY. Truist Financial raised Progyny from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Thursday, January 8th. Citigroup upgraded shares of Progyny to an “outperform” rating in a report on Tuesday, January 20th. Weiss Ratings restated a “hold (c)” rating on shares of Progyny in a report on Monday, December 29th. Canaccord Genuity Group lifted their price objective on shares of Progyny from $23.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, November 17th. Finally, Citizens Jmp upgraded shares of Progyny from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Tuesday, January 20th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.80.

Progyny Stock Performance

Shares of PGNY stock opened at $20.98 on Friday. Progyny, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $28.75. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 33.30, a PEG ratio of 1.33 and a beta of 0.96. The stock’s 50-day simple moving average is $24.46 and its 200-day simple moving average is $23.18.

Progyny Company Profile

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company’s digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny’s offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.