Capital Fund Management S.A. Trims Stake in Progyny, Inc. $PGNY

Key Points

• Capital Fund Management S.A. reduced its stake in Progyny, Inc. by 45.9% during the first quarter, owning approximately $2.41 million worth of the company's stock after selling over 91,000 shares.
• Several institutional investors, including Voloridge Investment Management LLC and Dimensional Fund Advisors LP, significantly increased their positions in Progyny, contributing to 94.93% of the stock being owned by institutional investors.
• Progyny's stock received various rating upgrades from research firms, including a target price increase to $28.00 from Leerink Partners, with a consensus rating of "Moderate Buy" and an average price target of $25.10.

Capital Fund Management S.A. trimmed its holdings in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 45.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,688 shares of the company's stock after selling 91,448 shares during the quarter. Capital Fund Management S.A. owned 0.13% of Progyny worth $2,406,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of PGNY. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Progyny in the first quarter worth $44,000. Brooklyn Investment Group increased its position in Progyny by 5,216.4% in the first quarter. Brooklyn Investment Group now owns 3,243 shares of the company's stock worth $72,000 after buying an additional 3,182 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Progyny by 233.9% in the first quarter. GAMMA Investing LLC now owns 5,379 shares of the company's stock worth $120,000 after acquiring an additional 3,768 shares during the period. State of Wyoming boosted its holdings in shares of Progyny by 98.2% in the fourth quarter. State of Wyoming now owns 12,376 shares of the company's stock worth $213,000 after acquiring an additional 6,132 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Progyny in the first quarter worth $228,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Progyny

In related news, Director Kevin K. Gordon sold 2,500 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $22.04, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Cheryl Scott sold 2,675 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total value of $59,037.25. Following the transaction, the director owned 14,112 shares in the company, valued at $311,451.84. This trade represents a 15.93% decrease in their position. The disclosure for this sale can be found here. 9.40% of the stock is owned by insiders.

Progyny Price Performance

NASDAQ:PGNY traded up $0.23 during mid-day trading on Thursday, reaching $23.25. 647,896 shares of the company's stock traded hands, compared to its average volume of 1,402,119. Progyny, Inc. has a 12-month low of $13.39 and a 12-month high of $26.76. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 1.85 and a beta of 1.32. The company has a 50 day moving average price of $22.64 and a 200-day moving average price of $22.19.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its quarterly 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 for the quarter, compared to analysts' expectations of $315.70 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The firm's revenue for the quarter 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, analysts forecast that Progyny, Inc. will post 0.6 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on PGNY shares. Leerink Partnrs raised Progyny from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 8th. Leerink Partners raised Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price target for the company in a report on Tuesday, July 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $28.00 price target (up from $26.00) on shares of Progyny in a report on Friday, August 8th. Canaccord Genuity Group raised their price target on Progyny from $21.00 to $23.00 and gave the stock a "hold" rating in a report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. lifted their price objective on Progyny from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Progyny presently has a consensus rating of "Moderate Buy" and an average target price of $25.30.

Progyny Company 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.