GW&K Investment Management LLC Sells 48,991 Shares of Progyny, Inc. (NASDAQ:PGNY)

GW&K Investment Management LLC lowered its position in shares of Progyny, Inc. (NASDAQ:PGNY) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 654,370 shares of the company’s stock after selling 48,991 shares during the period. GW&K Investment Management LLC’s holdings in Progyny were worth $24,329,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Gotham Asset Management LLC bought a new position in shares of Progyny in the 3rd quarter worth about $1,116,000. Vitruvian Partners LLP purchased a new stake in Progyny in the fourth quarter worth about $2,957,000. International Assets Investment Management LLC increased its stake in shares of Progyny by 9,381.3% during the fourth quarter. International Assets Investment Management LLC now owns 158,053 shares of the company’s stock valued at $5,876,411,000 after purchasing an additional 156,386 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Progyny during the fourth quarter valued at approximately $870,000. Finally, Invesco Ltd. boosted its position in shares of Progyny by 67.0% in the 3rd quarter. Invesco Ltd. now owns 888,427 shares of the company’s stock worth $30,224,000 after purchasing an additional 356,529 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

Insider Buying and Selling at Progyny

In other news, Chairman David J. Schlanger sold 5,826 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $37.74, for a total transaction of $219,873.24. Following the completion of the sale, the chairman now owns 86,312 shares of the company’s stock, valued at approximately $3,257,414.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Chairman David J. Schlanger sold 5,826 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $37.74, for a total transaction of $219,873.24. Following the completion of the transaction, the chairman now directly owns 86,312 shares in the company, valued at approximately $3,257,414.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman David J. Schlanger sold 71,272 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $37.80, for a total transaction of $2,694,081.60. Following the sale, the chairman now owns 86,312 shares in the company, valued at approximately $3,262,593.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,770 shares of company stock valued at $3,853,985. Insiders own 12.30% of the company’s stock.

Progyny Price Performance

Progyny stock traded down $0.42 during midday trading on Wednesday, reaching $27.04. 209,845 shares of the company traded hands, compared to its average volume of 918,435. Progyny, Inc. has a 12 month low of $23.90 and a 12 month high of $44.95. The business has a 50 day moving average of $33.44 and a two-hundred day moving average of $35.46. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 45.02, a price-to-earnings-growth ratio of 1.92 and a beta of 1.51.

Progyny (NASDAQ:PGNY) last announced its earnings results on Thursday, May 9th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. Progyny had a return on equity of 11.61% and a net margin of 5.53%. The business had revenue of $278.08 million for the quarter, compared to analysts’ expectations of $289.41 million. During the same period last year, the firm posted $0.18 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities analysts forecast that Progyny, Inc. will post 0.69 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on PGNY. KeyCorp cut Progyny from an “overweight” rating to a “sector weight” rating in a research note on Friday, May 10th. Cantor Fitzgerald restated an “overweight” rating and set a $48.00 price target on shares of Progyny in a report on Thursday, May 16th. SVB Leerink assumed coverage on shares of Progyny in a research note on Monday, February 26th. They issued an “outperform” rating and a $49.00 price target on the stock. Truist Financial reduced their price objective on shares of Progyny from $46.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, May 17th. Finally, Canaccord Genuity Group dropped their target price on shares of Progyny from $46.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Progyny has a consensus rating of “Moderate Buy” and a consensus price target of $43.11.

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.