CenterBook Partners LP Acquires 310,516 Shares of Progyny, Inc. $PGNY

CenterBook Partners LP lifted its holdings in Progyny, Inc. (NASDAQ:PGNY) by 272.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 424,393 shares of the company’s stock after purchasing an additional 310,516 shares during the quarter. CenterBook Partners LP owned 0.49% of Progyny worth $9,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PGNY. Ameriprise Financial Inc. increased its holdings in Progyny by 37.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock worth $43,933,000 after buying an additional 545,431 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in Progyny during the 2nd quarter valued at about $10,525,000. Nomura Holdings Inc. purchased a new stake in shares of Progyny during the 2nd quarter valued at about $9,368,000. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Progyny by 33.1% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,656,558 shares of the company’s stock worth $35,649,000 after acquiring an additional 412,395 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Progyny by 57.1% in the third quarter. Principal Financial Group Inc. now owns 704,267 shares of the company’s stock worth $15,156,000 after acquiring an additional 256,078 shares during the period. 94.93% of the stock is owned by institutional investors.

Progyny Stock Down 1.6%

PGNY stock opened at $20.35 on Wednesday. The business’s 50-day moving average price is $24.78 and its 200-day moving average price is $23.23. The stock has a market cap of $1.75 billion, a P/E ratio of 32.30, a PEG ratio of 1.31 and a beta of 0.96. Progyny, Inc. has a twelve month low of $17.98 and a twelve month high of $28.75.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. BTIG Research restated a “buy” rating on shares of Progyny in a research report on Wednesday, January 21st. JPMorgan Chase & Co. set a $35.00 price target on Progyny in a report on Wednesday, January 21st. Truist Financial raised Progyny from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Progyny in a research report on Monday, December 29th. Finally, Citizens Jmp raised Progyny from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Tuesday, January 20th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Progyny has a consensus rating of “Moderate Buy” and a consensus target price of $29.80.

Progyny Profile

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company’s digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny’s offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.