Acuitas Investments LLC Takes $2.98 Million Position in Progyny, Inc. (NASDAQ:PGNY)

Acuitas Investments LLC purchased a new position in shares of Progyny, Inc. (NASDAQ:PGNY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 172,732 shares of the company’s stock, valued at approximately $2,980,000. Progyny accounts for 2.5% of Acuitas Investments LLC’s investment portfolio, making the stock its 18th biggest position. Acuitas Investments LLC owned approximately 0.20% of Progyny as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PGNY. Leibman Financial Services Inc. raised its holdings in Progyny by 100.7% in the fourth quarter. Leibman Financial Services Inc. now owns 63,509 shares of the company’s stock valued at $1,096,000 after acquiring an additional 31,872 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in Progyny by 90.1% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,467,780 shares of the company’s stock valued at $25,319,000 after buying an additional 695,740 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its stake in Progyny by 15.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock valued at $16,366,000 after buying an additional 132,672 shares in the last quarter. Aurora Investment Counsel purchased a new stake in Progyny during the 3rd quarter worth about $1,280,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in Progyny during the 4th quarter worth about $989,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Insider Buying and Selling at Progyny

In related news, CEO Peter Anevski purchased 209,500 shares of Progyny stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost of $14.48 per share, for a total transaction of $3,033,560.00. Following the transaction, the chief executive officer now owns 441,463 shares in the company, valued at approximately $6,392,384.24. The trade was a 90.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman David J. Schlanger purchased 150,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $14.68 per share, for a total transaction of $2,202,000.00. Following the purchase, the chairman now directly owns 228,269 shares in the company, valued at approximately $3,350,988.92. This represents a 191.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PGNY has been the topic of several research analyst reports. Bank of America raised their target price on Progyny from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Barclays lowered their target price on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Truist Financial reiterated a “hold” rating and set a $19.00 price target (down from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on Progyny from $17.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Canaccord Genuity Group reduced their target price on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Progyny currently has a consensus rating of “Hold” and a consensus price target of $25.83.

Progyny Trading Up 1.9 %

Shares of PGNY stock opened at $22.36 on Tuesday. The stock has a 50 day simple moving average of $19.19 and a 200-day simple moving average of $18.64. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 38.55, a price-to-earnings-growth ratio of 2.18 and a beta of 1.34. Progyny, Inc. has a 12-month low of $13.39 and a 12-month high of $42.08.

Progyny Company 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.