AQR Capital Management LLC Purchases 303,750 Shares of Progyny, Inc. $PGNY

Key Points

• AQR Capital Management LLC significantly increased its stake in Progyny, Inc. by 1,060.7% during Q1, acquiring an additional 303,750 shares, bringing its ownership to 332,386 shares valued at approximately $7.4 million.
• Analyst opinions on Progyny stock have improved, with several firms raising their ratings, including Leerink Partners upgrading it to "strong-buy" and setting a target price of $28.00.
• Despite reporting earnings per share of $0.19, which missed expectations, Progyny's revenue for the quarter was $332.87 million, exceeding analysts' estimates of $315.70 million.

AQR Capital Management LLC grew its stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 1,060.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 332,386 shares of the company's stock after purchasing an additional 303,750 shares during the period. AQR Capital Management LLC owned approximately 0.39% of Progyny worth $7,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Progyny during the 1st quarter worth approximately $44,000. Brooklyn Investment Group lifted its holdings in Progyny by 5,216.4% during the 1st quarter. Brooklyn Investment Group now owns 3,243 shares of the company's stock worth $72,000 after buying an additional 3,182 shares in the last quarter. 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 worth $120,000 after buying an additional 3,768 shares in the last quarter. AlphaQuest LLC lifted its holdings in Progyny by 57.9% during the 1st quarter. AlphaQuest LLC now owns 5,668 shares of the company's stock worth $127,000 after buying an additional 2,079 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in Progyny during the 1st quarter worth $228,000. 94.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PGNY has been the topic of several research reports. Truist Financial upped their price objective on Progyny from $24.00 to $27.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Raymond James Financial set a $28.00 price target on Progyny in a research note on Friday, August 8th. Leerink Partnrs raised Progyny from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 8th. Wall Street Zen raised Progyny from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Leerink Partners raised Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price target on the stock in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.30.

Progyny Stock Down 0.6%

Shares of PGNY traded down $0.14 during trading hours on Wednesday, reaching $21.63. The stock had a trading volume of 928,719 shares, compared to its average volume of 891,132. Progyny, Inc. has a 52 week low of $13.39 and a 52 week high of $26.76. The firm has a 50-day moving average of $22.98 and a 200 day moving average of $22.20. The company has a market cap of $1.86 billion, a P/E ratio of 36.66, a P/E/G ratio of 1.78 and a beta of 1.33.

Progyny (NASDAQ:PGNY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.19 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 firm 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 company earned $0.17 EPS. Progyny's quarterly 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, equities analysts expect that Progyny, Inc. will post 0.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kevin K. Gordon sold 2,500 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $22.04, for a total value of $55,100.00. Following the completion of the sale, the director owned 12,501 shares in the company, valued at $275,522.04. This represents a 16.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Allison Swartz sold 2,398 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $22.96, for a total transaction of $55,058.08. Following the completion of the sale, the executive vice president owned 79,697 shares of the company's stock, valued at approximately $1,829,843.12. This represents a 2.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,895 shares of company stock valued at $179,311. 9.40% of the stock is owned by corporate insiders.

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.