River Road Asset Management LLC Acquires Shares of 1,479,944 Progyny, Inc. (NASDAQ:PGNY)

River Road Asset Management LLC bought a new stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,479,944 shares of the company's stock, valued at approximately $25,529,000. River Road Asset Management LLC owned 1.74% of Progyny at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Progyny by 341.4% in the fourth quarter. GAMMA Investing LLC now owns 1,611 shares of the company's stock valued at $28,000 after buying an additional 1,246 shares during the period. Nisa Investment Advisors LLC lifted its stake in Progyny by 108.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,934 shares of the company's stock valued at $51,000 after buying an additional 1,526 shares during the period. Caitlin John LLC lifted its stake in Progyny by 2,974.8% in the fourth quarter. Caitlin John LLC now owns 3,290 shares of the company's stock valued at $57,000 after buying an additional 3,183 shares during the period. SBI Securities Co. Ltd. acquired a new position in Progyny in the fourth quarter valued at about $74,000. Finally, Meeder Asset Management Inc. acquired a new position in Progyny in the third quarter valued at about $77,000. Institutional investors and hedge funds own 94.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PGNY shares. JPMorgan Chase & Co. increased their price target on Progyny from $17.00 to $23.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Bank of America increased their price target on Progyny from $21.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Canaccord Genuity Group increased their price objective on Progyny from $17.00 to $23.00 and gave the stock a "hold" rating in a report on Friday, February 28th. Finally, Barclays decreased 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. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $24.82.

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Progyny Trading Up 2.6 %

Shares of PGNY traded up $0.52 during mid-day trading on Friday, reaching $20.36. The company's stock had a trading volume of 1,612,577 shares, compared to its average volume of 1,584,353. Progyny, Inc. has a 1-year low of $13.39 and a 1-year high of $38.98. The stock has a market cap of $1.74 billion, a P/E ratio of 35.10, a PEG ratio of 2.39 and a beta of 1.41. The business has a 50-day simple moving average of $21.58 and a two-hundred day simple moving average of $18.66.

Insider Buying and Selling

In other news, CEO Peter Anevski purchased 209,500 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $14.48 per share, with a total value of $3,033,560.00. Following the acquisition, the chief executive officer now owns 441,463 shares in the company, valued at approximately $6,392,384.24. This trade represents a 90.32 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman David J. Schlanger purchased 150,000 shares of the company's stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average cost of $14.68 per share, with a total value of $2,202,000.00. Following the completion of the acquisition, the chairman now owns 228,269 shares in the company, valued at $3,350,988.92. The trade was 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.

Progyny Company 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.