Kestrel Investment Management Corp acquired a new stake in Progyny, Inc. (NASDAQ:PGNY – Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 174,950 shares of the company’s stock, valued at approximately $5,005,000. Progyny makes up 3.3% of Kestrel Investment Management Corp’s holdings, making the stock its 10th largest holding. Kestrel Investment Management Corp owned approximately 0.18% of Progyny as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nordea Investment Management AB grew its position in Progyny by 122.2% in the first quarter. Nordea Investment Management AB now owns 126,446 shares of the company’s stock worth $4,891,000 after acquiring an additional 69,552 shares in the last quarter. Vitruvian Partners LLP purchased a new stake in Progyny in the fourth quarter worth about $2,957,000. Bank of New York Mellon Corp grew its stake in shares of Progyny by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock worth $21,636,000 after buying an additional 22,012 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Progyny by 2.7% during the first quarter. Jennison Associates LLC now owns 2,596,422 shares of the company’s stock valued at $99,054,000 after acquiring an additional 67,632 shares in the last quarter. Finally, M&G Plc bought a new stake in Progyny during the 1st quarter valued at about $1,156,000. 94.93% of the stock is currently owned by institutional investors.
Progyny Price Performance
Shares of Progyny stock opened at $24.15 on Monday. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 39.59, a PEG ratio of 1.86 and a beta of 1.45. Progyny, Inc. has a 12 month low of $19.60 and a 12 month high of $42.08. The firm’s fifty day simple moving average is $24.77 and its 200-day simple moving average is $29.06.
Insider Buying and Selling
In other Progyny news, President Michael E. Sturmer sold 9,030 shares of Progyny stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total value of $270,900.00. Following the completion of the sale, the president now directly owns 362,583 shares of the company’s stock, valued at approximately $10,877,490. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Progyny news, President Michael E. Sturmer sold 9,030 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total transaction of $270,900.00. Following the completion of the sale, the president now owns 362,583 shares of the company’s stock, valued at $10,877,490. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Cheryl Scott sold 1,462 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $28.39, for a total value of $41,506.18. Following the completion of the transaction, the director now owns 10,098 shares in the company, valued at $286,682.22. The disclosure for this sale can be found here. 12.30% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Leerink Partnrs lowered Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. JMP Securities cut their price objective on Progyny from $36.00 to $31.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 7th. Canaccord Genuity Group lowered Progyny from a “buy” rating to a “hold” rating and cut their price target for the stock from $37.00 to $24.00 in a research note on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target on shares of Progyny from $41.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $24.00 price target (down previously from $37.00) on shares of Progyny in a research report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.90.
Check Out Our Latest Stock Report on PGNY
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.
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