Progyny (NASDAQ:PGNY) Trading Up 3.3% – Here’s Why

Progyny, Inc. (NASDAQ:PGNY)’s stock price rose 3.3% during mid-day trading on Monday . The stock traded as high as $22.66 and last traded at $22.62. Approximately 145,917 shares changed hands during trading, a decline of 91% from the average daily volume of 1,690,619 shares. The stock had previously closed at $21.90.

Analyst Ratings Changes

PGNY has been the topic of a number of research reports. Canaccord Genuity Group increased their price objective on shares of Progyny from $17.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. lifted their price objective on Progyny from $17.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. BTIG Research raised 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 boosted their price objective on shares of Progyny from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $23.64.

Progyny Trading Up 3.4 %

The business has a 50 day simple moving average of $22.12 and a two-hundred day simple moving average of $18.49. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 39.81, a price-to-earnings-growth ratio of 2.39 and a beta of 1.41.

Institutional Trading of Progyny

Several institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC grew its stake in Progyny by 1,355.0% in the fourth quarter. Signaturefd LLC now owns 1,455 shares of the company’s stock worth $25,000 after purchasing an additional 1,355 shares in the last quarter. GAMMA Investing LLC lifted its stake in Progyny by 341.4% during the fourth quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock worth $28,000 after purchasing an additional 1,246 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Progyny by 108.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,934 shares of the company’s stock worth $51,000 after purchasing an additional 1,526 shares during the period. Caitlin John LLC increased its stake in Progyny by 2,974.8% during the fourth quarter. Caitlin John LLC now owns 3,290 shares of the company’s stock valued at $57,000 after purchasing an additional 3,183 shares during the last quarter. Finally, Natixis acquired a new stake in shares of Progyny during the fourth quarter worth $69,000. 94.93% of the stock is owned by institutional investors and hedge funds.

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.