Arrowstreet Capital Limited Partnership Lowers Stake in Progyny, Inc. $PGNY

Key Points

• Arrowstreet Capital cut its Progyny stake by 59.5% in the first quarter, selling 497,590 shares and retaining 339,062 shares worth approximately $5.8 million. Institutional investors collectively own 94.93% of the company.
• Progyny reported first-quarter EPS of $0.50, beating estimates of $0.26, while revenue reached $328.5 million but declined 26.4% year over year. The company also authorized a $200 million share buyback, covering up to 10.3% of outstanding shares.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $33.25 versus the reported share price of $31.13. Recent target increases include KeyCorp’s move to $35 and Barclays’ move to $34.

Arrowstreet Capital Limited Partnership lowered its position in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 59.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 339,062 shares of the company's stock after selling 497,590 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.43% of Progyny worth $5,757,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Progyny during the fourth quarter worth about $25,000. Hantz Financial Services Inc. lifted its holdings in Progyny by 79.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company's stock worth $43,000 after purchasing an additional 742 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Progyny in the 2nd quarter worth approximately $77,000. Quarry LP boosted its stake in Progyny by 2,004.1% in the 3rd quarter. Quarry LP now owns 3,598 shares of the company's stock worth $77,000 after purchasing an additional 3,427 shares during the period. Finally, New Age Alpha Advisors LLC bought a new position in Progyny in the 4th quarter worth approximately $94,000. Hedge funds and other institutional investors own 94.93% of the company's stock.

Insider Activity at Progyny

In other Progyny news, Director Kevin K. Gordon sold 5,500 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $24.99, for a total transaction of $137,445.00. Following the transaction, the director owned 9,318 shares in the company, valued at $232,856.82. The trade was a 37.12% 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, CFO Mark S. Livingston sold 8,275 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $25.50, for a total transaction of $211,012.50. Following the transaction, the chief financial officer owned 79,063 shares in the company, valued at $2,016,106.50. The trade was a 9.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,916 shares of company stock valued at $939,875 over the last three months. Corporate insiders own 9.90% of the company's stock.

Progyny Price Performance

Shares of NASDAQ PGNY opened at $31.13 on Monday. The business's 50 day moving average is $28.55 and its two-hundred day moving average is $23.22. Progyny, Inc. has a 1-year low of $16.10 and a 1-year high of $33.06. The stock has a market capitalization of $2.44 billion, a P/E ratio of 40.43, a PEG ratio of 2.47 and a beta of 1.01.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.24. Progyny had a return on equity of 13.34% and a net margin of 5.23%.The business had revenue of $328.50 million during the quarter, compared to analyst estimates of $326.46 million. During the same period last year, the company earned $0.17 EPS. The company's revenue for the quarter was down 26.4% on a year-over-year basis. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. As a group, equities research analysts anticipate that Progyny, Inc. will post 1.19 earnings per share for the current fiscal year.

Progyny announced that its Board of Directors has initiated a share buyback program on Tuesday, May 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase up to 10.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

PGNY has been the topic of several recent analyst reports. KeyCorp lifted their price objective on shares of Progyny from $30.00 to $35.00 and gave the company an "overweight" rating in a research report on Monday, July 13th. Weiss Ratings upgraded shares of Progyny from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, June 26th. Barclays reaffirmed an "equal weight" rating and set a $34.00 target price (up from $27.00) on shares of Progyny in a research note on Tuesday, July 28th. Zacks Research upgraded shares of Progyny from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 8th. Finally, Citizens Jmp boosted their price target on shares of Progyny from $30.00 to $31.00 and gave the stock a "market outperform" rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Progyny has a consensus rating of "Moderate Buy" and an average price target of $33.25.

Progyny Company Profile

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company's digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny's offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.

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