First Eagle Investment Management LLC Makes New $2.50 Million Investment in Progyny, Inc. (NASDAQ:PGNY)

First Eagle Investment Management LLC acquired a new position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 144,900 shares of the company's stock, valued at approximately $2,500,000. First Eagle Investment Management LLC owned 0.17% of Progyny as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in Progyny by 12,579.4% during the third quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company's stock valued at $41,777,000 after acquiring an additional 2,472,983 shares during the last quarter. Invenomic Capital Management LP bought a new stake in shares of Progyny during the 3rd quarter valued at about $29,509,000. River Road Asset Management LLC bought a new stake in shares of Progyny during the 4th quarter valued at about $25,529,000. 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 worth $25,319,000 after purchasing an additional 695,740 shares in the last quarter. Finally, Barclays PLC lifted its stake in Progyny by 530.4% in the third quarter. Barclays PLC now owns 706,157 shares of the company's stock valued at $11,835,000 after buying an additional 594,140 shares during the period. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

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Analyst Upgrades and Downgrades

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

Progyny Stock Performance

PGNY traded down $0.03 during mid-day trading on Thursday, reaching $21.68. 1,484,410 shares of the stock were exchanged, compared to its average volume of 1,593,649. The company has a 50 day moving average price of $21.80 and a two-hundred day moving average price of $18.61. The stock has a market capitalization of $1.85 billion, a PE ratio of 37.38, a price-to-earnings-growth ratio of 2.39 and a beta of 1.41. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $38.98.

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.