Kornitzer Capital Management Inc. KS Boosts Stake in Progyny, Inc. (NASDAQ:PGNY)

Kornitzer Capital Management Inc. KS boosted its position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 15.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 976,501 shares of the company's stock after acquiring an additional 132,672 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 1.08% of Progyny worth $16,366,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quarry LP lifted its holdings in shares of Progyny by 1,900.0% during the second quarter. Quarry LP now owns 880 shares of the company's stock worth $25,000 after purchasing an additional 836 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Progyny during the 2nd quarter valued at approximately $44,000. Cambridge Trust Co. acquired a new stake in Progyny during the 1st quarter valued at approximately $95,000. Natixis Investment Managers International purchased a new stake in shares of Progyny in the 1st quarter valued at $117,000. Finally, Mendota Financial Group LLC acquired a new stake in shares of Progyny in the third quarter worth $56,000. Hedge funds and other institutional investors own 94.93% of the company's stock.

Progyny Trading Up 0.9 %

NASDAQ:PGNY traded up $0.15 during trading hours on Thursday, reaching $16.53. 1,100,427 shares of the company were exchanged, compared to its average volume of 1,369,812. The firm has a market cap of $1.49 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 1.43 and a beta of 1.44. Progyny, Inc. has a twelve month low of $13.93 and a twelve month high of $42.08. The stock's 50-day moving average is $18.39 and its 200-day moving average is $24.13.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share for the quarter, meeting analysts' consensus estimates of $0.17. Progyny had a net margin of 5.54% and a return on equity of 11.97%. The firm had revenue of $304.09 million for the quarter, compared to analyst estimates of $305.32 million. During the same period last year, the company posted $0.15 EPS. Progyny's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, research analysts anticipate that Progyny, Inc. will post 0.64 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PGNY shares. JMP Securities downgraded shares of Progyny from an "outperform" rating to a "market perform" rating in a research report on Thursday, September 19th. BTIG Research cut Progyny from a "buy" rating to a "neutral" rating in a report on Wednesday, August 7th. Leerink Partners dropped their target price on Progyny from $25.00 to $21.00 and set a "market perform" rating on the stock in a report on Thursday, September 19th. Jefferies Financial Group decreased their price target on Progyny from $31.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, September 19th. Finally, Canaccord Genuity Group dropped their price objective on shares of Progyny from $24.00 to $18.00 and set a "hold" rating on the stock in a research note on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $27.73.

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.