Crestwood Capital Management L.P. Buys 66,331 Shares of Progyny, Inc. (NASDAQ:PGNY)

Crestwood Capital Management L.P. raised its stake in Progyny, Inc. (NASDAQ:PGNY) by 17.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 436,081 shares of the company’s stock after buying an additional 66,331 shares during the quarter. Progyny accounts for about 5.6% of Crestwood Capital Management L.P.’s holdings, making the stock its 8th biggest position. Crestwood Capital Management L.P.’s holdings in Progyny were worth $7,309,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PGNY. Pacer Advisors Inc. increased its stake in shares of Progyny by 12,579.4% during the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock worth $41,777,000 after purchasing an additional 2,472,983 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Progyny by 1,576.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock worth $42,991,000 after purchasing an additional 2,412,068 shares during the last quarter. Farallon Capital Management LLC increased its stake in shares of Progyny by 120.8% during the 2nd quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after purchasing an additional 715,900 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Progyny by 24.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company’s stock worth $36,676,000 after purchasing an additional 254,725 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Progyny by 77.8% during the 2nd quarter. Millennium Management LLC now owns 535,962 shares of the company’s stock worth $15,334,000 after purchasing an additional 234,590 shares during the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PGNY. Jefferies Financial Group lowered their target price on shares of Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Truist Financial reiterated a “hold” rating and issued a $19.00 target price (down from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Leerink Partners lowered their target price on shares of Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a research note on Thursday, September 19th. Barclays lowered their target price on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Finally, Bank of America lowered their target price on shares of Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research note 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $25.42.

Progyny Price Performance

Shares of Progyny stock opened at $15.75 on Tuesday. Progyny, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $42.08. The firm has a fifty day moving average price of $16.23 and a two-hundred day moving average price of $22.49. The company has a market cap of $1.34 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 1.78 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data 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). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The company had revenue of $286.63 million during the quarter, compared to the consensus estimate of $296.85 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts expect that Progyny, Inc. will post 0.58 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.