King Luther Capital Management Corp Purchases 46,281 Shares of Progyny, Inc. (NASDAQ:PGNY)

King Luther Capital Management Corp lifted its stake in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 39.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,760 shares of the company's stock after acquiring an additional 46,281 shares during the quarter. King Luther Capital Management Corp owned approximately 0.18% of Progyny worth $2,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Progyny by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,311,840 shares of the company's stock worth $317,097,000 after acquiring an additional 41,687 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Progyny by 1,576.0% during the third quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company's stock worth $42,991,000 after acquiring an additional 2,412,068 shares during the last quarter. Farallon Capital Management LLC grew its stake in 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 purchasing an additional 715,900 shares during the period. Dimensional Fund Advisors LP grew its stake in Progyny by 24.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,281,928 shares of the company's stock worth $36,676,000 after purchasing an additional 254,725 shares during the period. Finally, Kornitzer Capital Management Inc. KS grew its stake in Progyny by 15.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company's stock worth $16,366,000 after purchasing an additional 132,672 shares during the period. 94.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PGNY has been the subject of several recent analyst reports. Leerink Partners decreased their target price on Progyny from $25.00 to $21.00 and set a "market perform" rating for the company in a research note on Thursday, September 19th. BTIG Research cut Progyny from a "buy" rating to a "neutral" rating in a research note on Wednesday, August 7th. Bank of America decreased their target price on Progyny from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, November 13th. Barclays reduced their price objective on Progyny from $30.00 to $17.00 and set an "overweight" rating for the company in a research note on Thursday, November 14th. Finally, JMP Securities cut Progyny from an "outperform" rating to a "market perform" rating in a research note on Thursday, September 19th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Progyny has a consensus rating of "Hold" and a consensus target price of $25.42.

Progyny Trading Up 3.1 %

Shares of NASDAQ:PGNY traded up $0.47 during mid-day trading on Friday, hitting $15.44. 1,381,650 shares of the company traded hands, compared to its average volume of 1,744,200. The stock has a 50-day moving average price of $16.40 and a two-hundred day moving average price of $22.74. The stock has a market cap of $1.31 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.73 and a beta of 1.44. Progyny, Inc. has a 12-month low of $13.39 and a 12-month high of $42.08.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.26). The business had revenue of $286.63 million for the quarter, compared to the consensus estimate of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business's revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 earnings per share. As a group, analysts expect that Progyny, Inc. will post 0.58 earnings per share for the current year.

About Progyny

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.