GAMMA Investing LLC Has $2.69 Million Stock Position in Progyny, Inc. (NASDAQ:PGNY)

GAMMA Investing LLC lifted its stake in Progyny, Inc. (NASDAQ:PGNY) by 7,359.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 120,167 shares of the company’s stock after acquiring an additional 118,556 shares during the quarter. GAMMA Investing LLC’s holdings in Progyny were worth $2,685,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PGNY. River Road Asset Management LLC acquired a new stake in shares of Progyny in the fourth quarter valued at about $25,529,000. Barclays PLC raised its stake in Progyny by 95.7% in the fourth quarter. Barclays PLC now owns 1,382,205 shares of the company’s stock valued at $23,843,000 after buying an additional 676,048 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in Progyny in the fourth quarter valued at approximately $11,265,000. BNP Paribas Financial Markets bought a new stake in Progyny in the fourth quarter valued at approximately $10,557,000. Finally, First Sabrepoint Capital Management LP bought a new stake in Progyny in the fourth quarter valued at approximately $9,660,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

Insider Activity

In other news, Director Cheryl Scott sold 2,675 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total value of $59,037.25. Following the transaction, the director now owns 14,112 shares of the company’s stock, valued at approximately $311,451.84. This represents a 15.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.40% of the stock is owned by company insiders.

Progyny Trading Down 0.6%

Progyny stock opened at $21.55 on Friday. Progyny, Inc. has a 12 month low of $13.39 and a 12 month high of $30.42. The stock’s 50 day moving average is $21.97 and its 200-day moving average is $20.54. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 2.39 and a beta of 1.32.

Progyny (NASDAQ:PGNY) last posted its earnings results on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.28). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The firm had revenue of $324.04 million during the quarter, compared to analyst estimates of $307.86 million. During the same period in the previous year, the company posted $0.17 EPS. Progyny’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, equities research analysts predict that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PGNY has been the topic of several research analyst reports. BTIG Research upgraded Progyny from a “neutral” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Monday, March 31st. Canaccord Genuity Group dropped their price objective on Progyny from $23.00 to $21.00 and set a “hold” rating on the stock in a research note on Monday, May 12th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Progyny currently has an average rating of “Hold” and an average price target of $23.45.

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.