Dynamic Technology Lab Private Ltd Invests $1.61 Million in Progyny, Inc. (NASDAQ:PGNY)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Progyny, Inc. (NASDAQ:PGNY) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 96,227 shares of the company’s stock, valued at approximately $1,613,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Progyny by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 8,311,840 shares of the company’s stock valued at $317,097,000 after purchasing an additional 41,687 shares during the period. International Assets Investment Management LLC raised its position in shares of Progyny by 1,576.0% in the third quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock worth $42,991,000 after buying an additional 2,412,068 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Progyny by 12,579.4% during the third quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock valued at $41,777,000 after buying an additional 2,472,983 shares during the period. Farallon Capital Management LLC grew its position in Progyny by 120.8% during the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after buying an additional 715,900 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Progyny by 24.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company’s stock worth $36,676,000 after buying an additional 254,725 shares in the last quarter. Institutional investors own 94.93% of the company’s stock.

Progyny Stock Up 2.0 %

NASDAQ PGNY opened at $15.75 on Tuesday. The company has a 50-day simple moving average of $16.23 and a two-hundred day simple moving average of $22.49. Progyny, Inc. has a 12-month low of $13.39 and a 12-month high of $42.08. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 1.78 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last issued its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.26). The company had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.16 earnings per share. Equities analysts expect that Progyny, Inc. will post 0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PGNY. JMP Securities cut Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. lowered their target price on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. Canaccord Genuity Group cut shares of 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. Canaccord Genuity Group decreased their price target on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Finally, Truist Financial reaffirmed a “hold” rating and set a $19.00 price objective (down from $26.00) on shares of Progyny in a report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company 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.