Maryland State Retirement & Pension System Sells 1,574 Shares of Progyny, Inc. (NASDAQ:PGNY)

Maryland State Retirement & Pension System reduced its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,948 shares of the company’s stock after selling 1,574 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Progyny were worth $430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Signaturefd LLC raised its stake in Progyny by 1,355.0% during the 4th quarter. Signaturefd LLC now owns 1,455 shares of the company’s stock valued at $25,000 after buying an additional 1,355 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Progyny by 341.4% in the fourth quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock worth $28,000 after acquiring an additional 1,246 shares during the period. Nisa Investment Advisors LLC increased its position in Progyny by 108.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,934 shares of the company’s stock valued at $51,000 after acquiring an additional 1,526 shares during the last quarter. Caitlin John LLC lifted its holdings in Progyny by 2,974.8% in the fourth quarter. Caitlin John LLC now owns 3,290 shares of the company’s stock valued at $57,000 after acquiring an additional 3,183 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in Progyny in the fourth quarter worth about $74,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PGNY shares. JPMorgan Chase & Co. upped their price target on shares of Progyny from $17.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Bank of America upped their target price on shares of Progyny from $21.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Canaccord Genuity Group lifted their price target on shares of Progyny from $17.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, February 28th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Progyny currently has a consensus rating of “Hold” and an average target price of $24.82.

Progyny Stock Performance

Shares of NASDAQ PGNY opened at $21.49 on Wednesday. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $38.98. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 2.39 and a beta of 1.41. The stock has a 50 day moving average price of $21.99 and a 200 day moving average price of $18.53.

Insiders Place Their Bets

In other news, Chairman David J. Schlanger acquired 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average cost of $14.68 per share, for a total transaction of $2,202,000.00. Following the completion of the acquisition, the chairman now directly owns 228,269 shares of the company’s stock, valued at $3,350,988.92. The trade was a 191.65 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 12.30% of the company’s stock.

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.