Rice Hall James & Associates LLC Decreases Stock Holdings in Progyny, Inc. (NASDAQ:PGNY)

Rice Hall James & Associates LLC decreased its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 36.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,919 shares of the company’s stock after selling 27,500 shares during the period. Rice Hall James & Associates LLC’s holdings in Progyny were worth $803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PGNY. Quarry LP lifted its position in shares of Progyny by 1,900.0% during the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock valued at $25,000 after buying an additional 836 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Progyny during the 2nd quarter valued at approximately $44,000. Mendota Financial Group LLC acquired a new position in Progyny in the 3rd quarter valued at $56,000. Cambridge Trust Co. acquired a new position in Progyny in the 1st quarter valued at $95,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Progyny in the 2nd quarter valued at $97,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, September 19th. BTIG Research downgraded Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. Canaccord Genuity Group downgraded Progyny from a “buy” rating to a “hold” rating and reduced their price objective for the company from $37.00 to $24.00 in a research note on Wednesday, August 7th. Canaccord Genuity Group cut their target price on Progyny from $24.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Finally, JMP Securities downgraded Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 19th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Progyny has a consensus rating of “Hold” and an average target price of $27.73.

Progyny Trading Down 0.3 %

Shares of NASDAQ:PGNY opened at $15.00 on Friday. The business has a 50-day moving average price of $18.74 and a 200 day moving average price of $24.54. Progyny, Inc. has a 12-month low of $13.93 and a 12-month high of $42.08. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 1.45 and a beta of 1.43.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, August 6th. The company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. Progyny had a return on equity of 11.97% and a net margin of 5.54%. The company had revenue of $304.09 million during the quarter, compared to analysts’ expectations of $305.32 million. During the same period last year, the business posted $0.15 EPS. Progyny’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities research analysts predict that Progyny, Inc. will post 0.64 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.