Y Intercept Hong Kong Ltd Makes New $469,000 Investment in Progyny, Inc. (NASDAQ:PGNY)

Y Intercept Hong Kong Ltd bought a new stake in Progyny, Inc. (NASDAQ:PGNY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 27,999 shares of the company’s stock, valued at approximately $469,000.

Several other hedge funds have also made changes to their positions in PGNY. State Street Corp lifted its holdings in Progyny by 4.5% in the third quarter. State Street Corp now owns 3,113,654 shares of the company’s stock valued at $52,185,000 after acquiring an additional 134,861 shares during the last quarter. International Assets Investment Management LLC raised its position 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 purchasing an additional 2,412,068 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Progyny by 12,579.4% in the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock valued at $41,777,000 after purchasing an additional 2,472,983 shares during the last quarter. Invenomic Capital Management LP purchased a new position in shares of Progyny during the 3rd quarter worth $29,509,000. Finally, Farallon Capital Management LLC increased its position in shares of Progyny by 120.8% during the 2nd quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after purchasing an additional 715,900 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PGNY. Truist Financial reaffirmed a “hold” rating and issued a $19.00 target price (down previously from $26.00) on shares of Progyny in a research report on Wednesday, November 13th. JMP Securities lowered shares of Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday, September 19th. Bank of America dropped their target price on shares of Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 price target on shares of Progyny in a research note on Tuesday, October 1st. Finally, Canaccord Genuity Group dropped their price objective on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Progyny currently has a consensus rating of “Hold” and an average target price of $25.00.

Progyny Price Performance

PGNY opened at $14.61 on Monday. The business has a fifty day moving average price of $15.53 and a 200 day moving average price of $21.31. Progyny, Inc. has a 12 month low of $13.39 and a 12 month high of $42.08. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.64 and a beta of 1.35.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The company had revenue of $286.63 million for the quarter, compared to analyst estimates of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. On average, research analysts anticipate that Progyny, Inc. will post 0.59 earnings per share 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.