Erste Asset Management GmbH Purchases New Stake in Progyny, Inc. (NASDAQ:PGNY)

Erste Asset Management GmbH purchased a new stake in Progyny, Inc. (NASDAQ:PGNY) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 35,528 shares of the company’s stock, valued at approximately $597,000.

Several other hedge funds have also added to or reduced their stakes in PGNY. Pacer Advisors Inc. lifted its stake in Progyny by 12,579.4% in the third quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock valued at $41,777,000 after buying an additional 2,472,983 shares during the period. International Assets Investment Management LLC lifted its stake in Progyny by 1,576.0% in the third quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock valued at $42,991,000 after buying an additional 2,412,068 shares during the period. Farallon Capital Management LLC lifted its stake in Progyny by 120.8% in the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock valued at $37,436,000 after buying an additional 715,900 shares during the period. Dimensional Fund Advisors LP lifted its stake in Progyny by 24.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company’s stock valued at $36,676,000 after buying an additional 254,725 shares during the period. Finally, Millennium Management LLC lifted its stake in Progyny by 77.8% in the second quarter. Millennium Management LLC now owns 535,962 shares of the company’s stock valued at $15,334,000 after buying an additional 234,590 shares during the period. Institutional investors own 94.93% of the company’s stock.

Progyny Stock Performance

NASDAQ:PGNY opened at $14.88 on Thursday. The company has a market cap of $1.27 billion, a PE ratio of 25.66, a PEG ratio of 1.80 and a beta of 1.35. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $42.08. The stock has a 50-day simple moving average of $15.74 and a 200 day simple moving average of $21.98.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The firm had revenue of $286.63 million for the quarter, compared to the consensus estimate of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 earnings per share. On average, research analysts predict that Progyny, Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PGNY has been the topic of several analyst reports. Leerink Partnrs lowered Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Jefferies Financial Group dropped their price target on Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Bank of America dropped their price target on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. BTIG Research lowered Progyny from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, Barclays dropped their price target on Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Progyny currently has a consensus rating of “Hold” and an average target price of $25.00.

Progyny Company 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.