Bayforest Capital Ltd Sells 13,803 Shares of Progyny, Inc. $PGNY

Key Points

• Bayforest Capital Ltd significantly reduced its stake in **Progyny, Inc.** by 89.7%, selling 13,803 shares and now owning just 1,589 shares valued at approximately $35,000.
• Progyny's latest earnings report revealed a miss on earnings per share, posting $0.19 against a consensus estimate of $0.42, despite a year-over-year revenue increase of 9.5% to $332.87 million.
• Multiple institutions, including **Brooklyn Investment Group** and **GAMMA Investing LLC**, have increased their stakes in Progyny, indicating strong institutional interest as 94.93% of the company is now owned by institutional investors and hedge funds.

Bayforest Capital Ltd cut its stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 89.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,589 shares of the company's stock after selling 13,803 shares during the period. Bayforest Capital Ltd's holdings in Progyny were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Progyny in the 1st quarter worth $44,000. Militia Capital Partners LP acquired a new position in Progyny in the 1st quarter worth $45,000. Brooklyn Investment Group boosted its stake in Progyny by 5,216.4% in the 1st quarter. Brooklyn Investment Group now owns 3,243 shares of the company's stock worth $72,000 after purchasing an additional 3,182 shares during the period. GAMMA Investing LLC boosted its stake in Progyny by 233.9% in the 1st quarter. GAMMA Investing LLC now owns 5,379 shares of the company's stock worth $120,000 after purchasing an additional 3,768 shares during the period. Finally, AlphaQuest LLC boosted its stake in Progyny by 57.9% in the 1st quarter. AlphaQuest LLC now owns 5,668 shares of the company's stock worth $127,000 after purchasing an additional 2,079 shares during the period. 94.93% of the stock is owned by institutional investors and hedge funds.

Progyny Stock Performance

Shares of PGNY stock opened at $19.34 on Friday. The firm's 50-day moving average is $22.02 and its 200-day moving average is $22.13. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 1.64 and a beta of 1.34. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $26.76.

Progyny (NASDAQ:PGNY - Get Free Report) last issued 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). The firm had revenue of $332.87 million during the quarter, compared to the consensus estimate of $315.70 million. Progyny had a net margin of 4.28% and a return on equity of 10.69%. The firm's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 earnings per share. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. Sell-side analysts predict that Progyny, Inc. will post 0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PGNY has been the subject of a number of recent research reports. Cantor Fitzgerald restated an "overweight" rating and set a $28.00 price objective (up from $26.00) on shares of Progyny in a research note on Friday, August 8th. Leerink Partnrs upgraded shares of Progyny from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 8th. Raymond James Financial set a $28.00 price objective on shares of Progyny in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Progyny from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Canaccord Genuity Group increased their price objective on shares of Progyny from $21.00 to $23.00 and gave the stock a "hold" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $25.44.

Insider Activity at Progyny

In other Progyny news, EVP Allison Swartz sold 2,398 shares of the firm's stock in a transaction that occurred 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 directly owned 79,697 shares in the company, valued at $1,829,843.12. This trade represents a 2.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kevin K. Gordon sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $22.04, for a total transaction of $55,100.00. Following the sale, the director owned 12,501 shares of the company's stock, valued at $275,522.04. This trade represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,895 shares of company stock valued at $179,311 over the last 90 days. Company insiders own 9.40% of the company's stock.

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.

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