Sugar Maple Asset Management LLC Acquires Shares of 10,500 Progyny, Inc. (NASDAQ:PGNY)

Sugar Maple Asset Management LLC bought a new position in shares of Progyny, Inc. (NASDAQ:PGNY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,500 shares of the company’s stock, valued at approximately $176,000.

Several other hedge funds have also modified their holdings of the business. Quarry LP raised its position in Progyny by 1,900.0% in the second quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after acquiring an additional 836 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Progyny during the 2nd quarter worth $44,000. Mendota Financial Group LLC purchased a new position in shares of Progyny in the 3rd quarter valued at about $56,000. Cambridge Trust Co. acquired a new stake in shares of Progyny in the first quarter valued at about $95,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in Progyny during the second quarter worth about $97,000. 94.93% of the stock is owned by institutional investors and hedge funds.

Progyny Price Performance

Shares of PGNY opened at $13.77 on Friday. Progyny, Inc. has a 12 month low of $13.39 and a 12 month high of $42.08. The stock’s 50-day moving average is $17.30 and its two-hundred day moving average is $23.30. The stock has a market cap of $1.17 billion, a PE ratio of 23.74, a P/E/G ratio of 1.44 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The company had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. During the same quarter in the prior year, the company earned $0.16 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, research analysts anticipate that Progyny, Inc. will post 0.64 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PGNY shares. Barclays dropped their target price on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday. Truist Financial reiterated a “hold” rating and set a $19.00 target price (down previously from $26.00) on shares of Progyny in a report on Wednesday. JPMorgan Chase & Co. lowered their price target on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, September 19th. Bank of America decreased their target price on shares of Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Canaccord Genuity Group lowered Progyny from a “buy” rating to a “hold” rating and reduced their price target for the stock from $37.00 to $24.00 in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $25.42.

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.