Cornercap Investment Counsel Inc. Grows Holdings in Progyny, Inc. (NASDAQ:PGNY)

Cornercap Investment Counsel Inc. lifted its stake in Progyny, Inc. (NASDAQ:PGNY) by 27.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,148 shares of the company’s stock after purchasing an additional 7,798 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Progyny were worth $606,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PGNY. Quarry LP grew its holdings in Progyny by 1,900.0% during the 2nd quarter. Quarry LP now owns 880 shares of the company’s stock worth $25,000 after acquiring an additional 836 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Progyny during the 2nd quarter worth approximately $44,000. Mendota Financial Group LLC acquired a new position in shares of Progyny in the 3rd quarter valued at $56,000. Cambridge Trust Co. acquired a new position in shares of Progyny in the first quarter valued at about $95,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Progyny during the 2nd quarter worth approximately $97,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PGNY. Jefferies Financial Group cut 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. Canaccord Genuity Group lowered Progyny from a “buy” rating to a “hold” rating and dropped their target price for the stock from $37.00 to $24.00 in a report on Wednesday, August 7th. Truist Financial reissued a “hold” rating and issued a $19.00 price target (down from $26.00) on shares of Progyny in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. Finally, BTIG Research cut shares of Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.42.

Progyny Stock Down 1.5 %

Shares of NASDAQ PGNY opened at $13.77 on Friday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 1.31 and a beta of 1.44. The company’s 50-day simple moving average is $17.30 and its 200-day simple moving average is $23.36. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $42.08.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). Progyny had a return on equity of 11.36% and a net margin of 5.03%. The company had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. During the same quarter in the previous year, the business posted $0.16 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that Progyny, Inc. will post 0.64 EPS for the current fiscal year.

Progyny 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.