Progyny (NASDAQ:PGNY) Shares Up 3.3% - What's Next?

Shares of Progyny, Inc. (NASDAQ:PGNY - Get Free Report) shot up 3.3% during mid-day trading on Monday . The stock traded as high as $22.66 and last traded at $22.62. 145,917 shares traded hands during trading, a decline of 91% from the average session volume of 1,690,619 shares. The stock had previously closed at $21.90.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PGNY. JPMorgan Chase & Co. increased their price objective on Progyny from $17.00 to $23.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Canaccord Genuity Group increased their price target on Progyny from $17.00 to $23.00 and gave the stock a "hold" rating in a research note on Friday, February 28th. BTIG Research upgraded Progyny from a "neutral" rating to a "buy" rating and set a $28.00 price objective on the stock in a research note on Monday. Finally, Bank of America raised their price objective on shares of Progyny from $21.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $23.64.

Progyny Stock Performance

The firm has a 50-day moving average price of $22.18 and a 200 day moving average price of $18.55. The stock has a market capitalization of $1.93 billion, a P/E ratio of 38.97, a price-to-earnings-growth ratio of 2.39 and a beta of 1.33.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp grew its position in Progyny by 423.8% during the 4th quarter. Mackenzie Financial Corp now owns 117,387 shares of the company's stock worth $2,025,000 after acquiring an additional 94,978 shares during the last quarter. AWM Investment Company Inc. grew its holdings in shares of Progyny by 540.0% in the fourth quarter. AWM Investment Company Inc. now owns 160,000 shares of the company's stock worth $2,760,000 after purchasing an additional 135,000 shares during the last quarter. Voloridge Investment Management LLC increased its stake in shares of Progyny by 85.5% in the fourth quarter. Voloridge Investment Management LLC now owns 1,197,993 shares of the company's stock worth $20,665,000 after buying an additional 552,066 shares during the period. Two Sigma Advisers LP raised its holdings in Progyny by 83.8% during the 4th quarter. Two Sigma Advisers LP now owns 266,100 shares of the company's stock valued at $4,590,000 after buying an additional 121,300 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in Progyny by 15.9% in the 4th quarter. Two Sigma Investments LP now owns 657,276 shares of the company's stock worth $11,338,000 after acquiring an additional 90,197 shares during the last quarter. 94.93% of the stock is owned by institutional investors.

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.