Maryland State Retirement & Pension System Cuts Stake in Progyny, Inc. (NASDAQ:PGNY)

Maryland State Retirement & Pension System cut its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,948 shares of the company’s stock after selling 1,574 shares during the period. Maryland State Retirement & Pension System’s holdings in Progyny were worth $430,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC increased its position in Progyny by 1,355.0% during the 4th quarter. Signaturefd LLC now owns 1,455 shares of the company’s stock valued at $25,000 after buying an additional 1,355 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Progyny by 341.4% in the fourth quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock worth $28,000 after acquiring an additional 1,246 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Progyny by 108.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,934 shares of the company’s stock worth $51,000 after acquiring an additional 1,526 shares during the last quarter. Caitlin John LLC increased its holdings in shares of Progyny by 2,974.8% during the fourth quarter. Caitlin John LLC now owns 3,290 shares of the company’s stock valued at $57,000 after acquiring an additional 3,183 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Progyny in the 4th quarter valued at approximately $74,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Analysts Set New Price Targets

PGNY has been the topic of several research analyst reports. Canaccord Genuity Group boosted their target price on shares of Progyny from $17.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, February 28th. Bank of America boosted their price objective on shares of Progyny from $21.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. upped their target price on Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Progyny presently has a consensus rating of “Hold” and a consensus target price of $24.82.

Insiders Place Their Bets

In other news, Chairman David J. Schlanger acquired 150,000 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $14.68 per share, for a total transaction of $2,202,000.00. Following the completion of the transaction, the chairman now owns 228,269 shares in the company, valued at approximately $3,350,988.92. The trade was a 191.65 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.30% of the company’s stock.

Progyny Stock Down 2.5 %

Progyny stock opened at $21.49 on Wednesday. The business’s 50-day moving average price is $21.99 and its 200 day moving average price is $18.53. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 37.05, a price-to-earnings-growth ratio of 2.39 and a beta of 1.41. Progyny, Inc. has a 52 week low of $13.39 and a 52 week high of $38.98.

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.