Algert Global LLC Purchases 22,260 Shares of Progyny, Inc. $PGNY

Key Points

• Algert Global LLC increased its stake in Progyny, Inc. by 17.8%, acquiring an additional 22,260 shares, bringing its total ownership to 147,197 shares valued at approximately $3.29 million.
• Progyny's quarterly earnings report showed earnings per share of $0.19, which was below analyst expectations, but revenue rose to $332.87 million, exceeding projections.
• Research analysts have varying ratings on Progyny, with a consensus rating of "Moderate Buy" and an average target price of $24.90, as several firms have upgraded or maintained their buy recommendations.

Algert Global LLC lifted its position in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 17.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,197 shares of the company's stock after buying an additional 22,260 shares during the quarter. Algert Global LLC owned about 0.17% of Progyny worth $3,288,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis bought a new position in shares of Progyny in the fourth quarter valued at $69,000. GAMMA Investing LLC lifted its holdings in Progyny by 233.9% during the 1st quarter. GAMMA Investing LLC now owns 5,379 shares of the company's stock valued at $120,000 after purchasing an additional 3,768 shares during the last quarter. Sei Investments Co. acquired a new stake in Progyny during the 1st quarter valued at $228,000. Cresset Asset Management LLC acquired a new stake in Progyny during the 1st quarter valued at $233,000. Finally, XTX Topco Ltd acquired a new stake in Progyny during the 1st quarter valued at $241,000. 94.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PGNY. Wall Street Zen raised Progyny from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Raymond James Financial set a $28.00 target price on Progyny in a report on Friday, August 8th. Truist Financial lifted their target price on Progyny from $24.00 to $27.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Leerink Partners raised Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 target price for the company in a report on Tuesday, July 8th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $28.00 price target (up previously from $26.00) on shares of Progyny in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $25.10.

Progyny Trading Down 1.7%

Progyny stock traded down $0.39 during midday trading on Monday, reaching $23.14. The company's stock had a trading volume of 825,635 shares, compared to its average volume of 1,131,317. Progyny, Inc. has a 52 week low of $13.39 and a 52 week high of $26.76. The business has a 50-day moving average price of $22.59 and a 200-day moving average price of $22.18. The stock has a market cap of $1.99 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 1.92 and a beta of 1.32.

Progyny (NASDAQ:PGNY - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.23). Progyny had a net margin of 4.28% and a return on equity of 10.69%. The business had revenue of $332.87 million during the quarter, compared to the consensus estimate of $315.70 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The business's revenue was up 9.5% on a year-over-year basis. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. As a group, research analysts predict that Progyny, Inc. will post 0.6 EPS for the current fiscal year.

Insider Transactions at Progyny

In other Progyny news, Director Kevin K. Gordon sold 2,500 shares of Progyny stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $22.04, for a total value of $55,100.00. Following the transaction, the director owned 12,501 shares in the company, valued at $275,522.04. The trade was a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Cheryl Scott sold 2,675 shares of Progyny stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $22.07, for a total value of $59,037.25. Following the completion of the transaction, the director owned 14,112 shares in the company, valued at approximately $311,451.84. This represents a 15.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.40% of the company's stock.

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.