Point72 Asia Singapore Pte. Ltd. Has $612,000 Position in Progyny, Inc. (NASDAQ:PGNY)

Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 2,283.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,544 shares of the company's stock after purchasing an additional 35,011 shares during the quarter. Point72 Asia Singapore Pte. Ltd.'s holdings in Progyny were worth $612,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PGNY. Quarry LP boosted its position 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 buying an additional 836 shares during the period. Mendota Financial Group LLC acquired a new position in Progyny during the 3rd quarter worth approximately $56,000. Meeder Asset Management Inc. bought a new position in shares of Progyny during the 3rd quarter worth approximately $77,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Progyny in the second quarter valued at approximately $97,000. Finally, nVerses Capital LLC grew its position in Progyny by 925.0% in the second quarter. nVerses Capital LLC now owns 4,100 shares of the company's stock valued at $117,000 after purchasing an additional 3,700 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PGNY. Leerink Partnrs downgraded Progyny from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 7th. Jefferies Financial Group lowered their price target on Progyny from $31.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday, September 19th. Barclays cut their price objective on Progyny from $30.00 to $17.00 and set an "overweight" rating for the company in a report on Thursday, November 14th. Bank of America lowered their target price on shares of Progyny from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. Finally, Truist Financial reiterated a "hold" rating and issued a $19.00 price target (down previously from $26.00) on shares of Progyny in a research note on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $25.00.

Progyny Stock Performance

Shares of NASDAQ PGNY traded down $0.74 during trading hours on Tuesday, reaching $14.85. 1,283,469 shares of the stock were exchanged, compared to its average volume of 1,402,026. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 1.80 and a beta of 1.35. The stock's fifty day simple moving average is $15.79 and its 200 day simple moving average is $22.07. Progyny, Inc. has a 52 week low of $13.39 and a 52 week high of $42.08.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing the consensus estimate 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 firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 earnings per share. Research analysts predict that Progyny, Inc. will post 0.58 EPS for the current fiscal 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.