Silvercrest Asset Management Group LLC Increases Position in Progyny, Inc. (NASDAQ:PGNY)

Silvercrest Asset Management Group LLC raised its position in shares of Progyny, Inc. (NASDAQ:PGNY) by 14.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 656,138 shares of the company’s stock after purchasing an additional 80,419 shares during the period. Silvercrest Asset Management Group LLC owned approximately 0.69% of Progyny worth $25,032,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Ashford Capital Management Inc. raised its position in Progyny by 5.9% in the 1st quarter. Ashford Capital Management Inc. now owns 311,943 shares of the company’s stock worth $11,901,000 after purchasing an additional 17,280 shares during the period. Redmile Group LLC purchased a new position in shares of Progyny in the first quarter worth about $12,241,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Progyny by 5.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,912 shares of the company’s stock valued at $2,095,000 after acquiring an additional 2,947 shares during the last quarter. PEAK6 Investments LLC boosted its holdings in Progyny by 68.1% during the 1st quarter. PEAK6 Investments LLC now owns 10,942 shares of the company’s stock valued at $417,000 after acquiring an additional 4,433 shares during the period. Finally, EntryPoint Capital LLC grew its position in Progyny by 90.2% during the 1st quarter. EntryPoint Capital LLC now owns 3,989 shares of the company’s stock worth $152,000 after acquiring an additional 1,892 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PGNY shares. Truist Financial dropped their price objective on Progyny from $46.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, May 17th. JMP Securities initiated coverage on shares of Progyny in a research report on Tuesday, July 16th. They set an “outperform” rating and a $36.00 price target for the company. Barclays decreased their price objective on shares of Progyny from $48.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $48.00 target price on shares of Progyny in a report on Thursday, May 16th. Finally, BTIG Research reduced their price target on Progyny from $50.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, May 10th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.40.

Insider Transactions at Progyny

In related news, President Michael E. Sturmer sold 9,030 shares of Progyny stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total transaction of $270,900.00. Following the completion of the transaction, the president now directly owns 362,583 shares of the company’s stock, valued at approximately $10,877,490. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, President Michael E. Sturmer sold 9,030 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total value of $270,900.00. Following the sale, the president now owns 362,583 shares in the company, valued at approximately $10,877,490. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael E. Sturmer sold 4,515 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $31.95, for a total value of $144,254.25. Following the transaction, the president now directly owns 380,038 shares of the company’s stock, valued at approximately $12,142,214.10. The disclosure for this sale can be found here. Insiders have sold 15,007 shares of company stock valued at $456,660 in the last three months. 12.30% of the stock is currently owned by company insiders.

Progyny Price Performance

PGNY traded up $0.23 on Tuesday, hitting $29.25. The company had a trading volume of 218,026 shares, compared to its average volume of 947,878. The stock has a fifty day simple moving average of $27.64 and a 200-day simple moving average of $32.92. The firm has a market capitalization of $2.79 billion, a P/E ratio of 47.57, a P/E/G ratio of 1.89 and a beta of 1.46. Progyny, Inc. has a 52-week low of $23.90 and a 52-week high of $44.95.

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 firm had revenue of $278.08 million during the quarter, compared to analyst estimates of $289.41 million. During the same quarter in the prior year, the company earned $0.18 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts expect that Progyny, Inc. will post 0.73 earnings per share for the current fiscal year.

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.