AWM Investment Company Inc. Purchases Shares of 220,000 Progyny, Inc. $PGNY

AWM Investment Company Inc. bought a new position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 220,000 shares of the company's stock, valued at approximately $6,343,000. AWM Investment Company Inc. owned about 0.29% of Progyny at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Progyny in the second quarter worth approximately $334,426,000. Wellington Management Group LLP raised its holdings in Progyny by 260.9% during the 4th quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company's stock valued at $57,607,000 after buying an additional 1,621,688 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in Progyny by 46.9% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 2,693,393 shares of the company's stock valued at $45,734,000 after buying an additional 859,289 shares during the last quarter. Loomis Sayles & Co. L P purchased a new stake in Progyny during the 4th quarter valued at $19,917,000. Finally, William Blair Investment Management LLC purchased a new stake in Progyny during the 2nd quarter valued at $16,807,000. 94.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup reaffirmed an "outperform" rating on shares of Progyny in a research note on Monday, May 11th. Canaccord Genuity Group set a $35.00 price target on Progyny in a report on Friday, August 7th. Leerink Partners set a $38.00 price target on Progyny in a report on Wednesday, July 22nd. Zacks Research upgraded Progyny from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 8th. Finally, Wells Fargo & Company assumed coverage on Progyny in a report on Thursday, August 20th. They issued an "overweight" rating and a $37.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.91.

Progyny Stock Up 1.5%

Progyny stock opened at $25.82 on Wednesday. Progyny, Inc. has a twelve month low of $16.10 and a twelve month high of $33.06. The company has a market capitalization of $1.98 billion, a P/E ratio of 28.07, a PEG ratio of 1.85 and a beta of 1.01. The stock's 50 day moving average is $29.08 and its 200 day moving average is $23.55.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.22. The business had revenue of $350.51 million during the quarter, compared to analysts' expectations of $349.05 million. Progyny had a net margin of 6.00% and a return on equity of 15.98%. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 earnings per share. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. As a group, equities analysts expect that Progyny, Inc. will post 1.19 EPS for the current year.

Progyny declared that its board has approved a stock repurchase plan on Tuesday, May 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 10.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at Progyny

In other news, insider Geoffrey Clapp sold 1,530 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $25.58, for a total transaction of $39,137.40. Following the completion of the sale, the insider owned 59,117 shares of the company's stock, valued at $1,512,212.86. The trade was a 2.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark S. Livingston sold 2,517 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $25.50, for a total value of $64,183.50. Following the completion of the sale, the chief financial officer owned 74,688 shares of the company's stock, valued at approximately $1,904,544. The trade was a 3.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 13,563 shares of company stock valued at $351,968. 9.90% of the stock is owned by company insiders.

Progyny 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.

Want to see what other hedge funds are holding PGNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Progyny, Inc. (NASDAQ:PGNY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source