Progyny, Inc. (NASDAQ:PGNY) Short Interest Update
by Danessa Lincoln · The Markets DailyProgyny, Inc. (NASDAQ:PGNY – Get Free Report) was the target of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 2,847,787 shares, a drop of 22.4% from the January 15th total of 3,669,670 shares. Based on an average daily volume of 1,446,563 shares, the days-to-cover ratio is presently 2.0 days. Approximately 3.6% of the company’s stock are sold short. Approximately 3.6% of the company’s stock are sold short. Based on an average daily volume of 1,446,563 shares, the days-to-cover ratio is presently 2.0 days.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Progyny in a research note on Monday, December 29th. JPMorgan Chase & Co. set a $35.00 target price on Progyny in a research note on Wednesday, January 21st. Zacks Research lowered Progyny from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Barclays assumed coverage on Progyny in a research note on Monday, December 8th. They issued an “overweight” rating and a $29.00 price objective for the company. Finally, Citizens Jmp raised Progyny from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Tuesday, January 20th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.80.
Check Out Our Latest Analysis on Progyny
Progyny Trading Down 1.4%
NASDAQ:PGNY traded down $0.29 during trading hours on Friday, hitting $20.69. The company’s stock had a trading volume of 2,182,156 shares, compared to its average volume of 1,321,315. Progyny has a 52-week low of $17.98 and a 52-week high of $28.75. The stock has a market capitalization of $1.78 billion, a P/E ratio of 32.84, a price-to-earnings-growth ratio of 1.31 and a beta of 0.96. The stock has a fifty day moving average of $24.94 and a 200-day moving average of $23.27.
Insider Buying and Selling at Progyny
In related news, CFO Mark S. Livingston sold 21,303 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $25.50, for a total transaction of $543,226.50. Following the sale, the chief financial officer directly owned 48,358 shares of the company’s stock, valued at $1,233,129. This represents a 30.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 22,046 shares of company stock valued at $561,691 in the last ninety days. Insiders own 9.40% of the company’s stock.
Institutional Investors Weigh In On Progyny
Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in Progyny by 384.8% in the first quarter. Royal Bank of Canada now owns 13,027 shares of the company’s stock valued at $291,000 after purchasing an additional 10,340 shares in the last quarter. Amundi lifted its position in shares of Progyny by 103.8% during the 1st quarter. Amundi now owns 11,419 shares of the company’s stock worth $264,000 after buying an additional 5,817 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Progyny by 6.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company’s stock valued at $5,630,000 after buying an additional 14,297 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Progyny by 0.6% in the 2nd quarter. Nordea Investment Management AB now owns 183,362 shares of the company’s stock valued at $4,052,000 after buying an additional 1,140 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Progyny in the 2nd quarter valued at $433,000. Institutional investors and hedge funds own 94.93% of the company’s stock.
About Progyny
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.