15,818 Progyny, Inc. $PGNY Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its position in Progyny, Inc. (NASDAQ:PGNY) by 22.0% in the third quarter, Holdings Channel reports. The firm owned 56,227 shares of the company’s stock after selling 15,818 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Progyny were worth $1,416,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PGNY. Toth Financial Advisory Corp increased its holdings in Progyny by 21.3% during the 3rd quarter. Toth Financial Advisory Corp now owns 2,735 shares of the company’s stock worth $69,000 after purchasing an additional 480 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of Progyny by 4.2% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 17,254 shares of the company’s stock worth $435,000 after buying an additional 700 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Progyny in the 2nd quarter worth $29,000. State of Wyoming lifted its holdings in shares of Progyny by 3.5% in the 3rd quarter. State of Wyoming now owns 29,806 shares of the company’s stock worth $751,000 after buying an additional 1,015 shares during the period. Finally, Nykredit A S purchased a new stake in shares of Progyny in the 2nd quarter worth $38,000. Institutional investors own 94.93% of the company’s stock.

Progyny Trading Up 3.2%

PGNY opened at $35.95 on Tuesday. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 32.98, a PEG ratio of 2.08 and a beta of 0.97. Progyny, Inc. has a 12 month low of $16.10 and a 12 month high of $36.00. The stock has a fifty day moving average price of $27.65 and a 200-day moving average price of $24.64.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.21. The company had revenue of $341.25 million for the quarter, compared to the consensus estimate of $340.76 million. Progyny had a return on equity of 19.23% and a net margin of 6.80%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 earnings per share. On average, equities research analysts forecast that Progyny, Inc. will post 1.25 EPS for the current year.

Analyst Ratings Changes

PGNY has been the topic of several research reports. Leerink Partners raised their price target on Progyny from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, November 5th. Jefferies Financial Group set a $33.00 price objective on Progyny in a report on Tuesday, September 8th. Canaccord Genuity Group set a $35.00 price objective on shares of Progyny in a research note on Friday, August 7th. Cantor Fitzgerald increased their target price on shares of Progyny from $31.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Finally, Truist Financial raised their target price on shares of Progyny from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $35.33.

Insider Transactions at Progyny

In related news, Director Kevin Gordon sold 11,500 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $27.94, for a total transaction of $321,310.00. Following the completion of the sale, the director owned 6,792 shares of the company’s stock, valued at $189,768.48. This represents a 62.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman David Schlanger sold 161,208 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $35.73, for a total transaction of $5,759,961.84. Following the completion of the sale, the chairman owned 238,462 shares of the company’s stock, valued at approximately $8,520,247.26. This trade represents a 40.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 357,276 shares of company stock worth $12,602,622. 9.90% of the stock is owned by corporate insiders.

More Progyny News

Here are the key news stories impacting Progyny this week:

• Positive Sentiment: Wall Street Zen upgraded Progyny to “Strong Buy,” providing a bullish signal for the stock. Article: Progyny Upgraded to Strong-Buy at Wall Street Zen
• Neutral Sentiment: JPMorgan raised its price target to $35 from $30 but kept a “Neutral” rating, indicating a higher valuation expectation without an outright bullish call. JPMorgan ratings
• Negative Sentiment: CEO Peter Anevski and Chairman David Schlanger each reported selling about 161,000 shares on Nov. 9, in addition to smaller sales reported for Nov. 5. The sizable sales could raise investor concerns about insider confidence, although the transactions were conducted under pre-arranged Rule 10b5-1 plans. CEO SEC filing Chairman SEC filing

Progyny Profile

Progyny, Inc provides fertility and family-building benefits to employers and their employees. Its services are designed to help members navigate care options, access fertility specialists and receive support throughout treatment.

The company’s offerings include coverage for treatments such as in vitro fertilization and egg freezing, along with fertility medications through its pharmacy benefit. Progyny also supports other family-building paths, including adoption and surrogacy, depending on the plan selected by an employer.

Founded in 2008, Progyny serves employer clients and their workforces in the United States.