Cornercap Investment Counsel Inc. Increases Position in Progyny, Inc. (NASDAQ:PGNY)

Cornercap Investment Counsel Inc. raised its position in shares of Progyny, Inc. (NASDAQ:PGNY) by 27.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,148 shares of the company’s stock after buying an additional 7,798 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Progyny were worth $606,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PGNY. Hsbc Holdings PLC lifted its position in shares of Progyny by 703.9% during the second quarter. Hsbc Holdings PLC now owns 46,475 shares of the company’s stock worth $1,328,000 after purchasing an additional 40,694 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Progyny by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock valued at $21,636,000 after buying an additional 22,012 shares during the period. Kestrel Investment Management Corp acquired a new position in shares of Progyny in the second quarter worth $5,005,000. Farallon Capital Management LLC increased its position in shares of Progyny by 120.8% during the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after acquiring an additional 715,900 shares during the period. Finally, Kornitzer Capital Management Inc. KS raised its stake in shares of 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 acquiring an additional 132,672 shares in the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on PGNY shares. JMP Securities downgraded Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday, September 19th. Canaccord Genuity Group cut their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday. Leerink Partnrs downgraded shares of Progyny from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, September 19th. Finally, Barclays decreased their price objective on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.42.

Progyny Price Performance

NASDAQ PGNY opened at $13.77 on Friday. The company has a fifty day moving average of $17.30 and a two-hundred day moving average of $23.36. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $42.08. The company has a market capitalization of $1.17 billion, a PE ratio of 23.74, a P/E/G ratio of 1.31 and a beta of 1.44.

Progyny (NASDAQ:PGNY) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The firm had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. During the same quarter in the prior year, the business earned $0.16 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, research analysts expect that Progyny, Inc. will post 0.64 earnings per share for the current year.

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.