Caption Management LLC Sells 51,200 Shares of Progyny, Inc. $PGNY

Key Points

• Caption Management LLC significantly reduced its stake in Progyny, Inc. by 64% during Q1, selling 51,200 shares, leading to a holding of 28,800 shares valued at $643,000.
• In Q1, other institutional investors also adjusted their positions, with significant investments and increases in holdings, indicating a high institutional interest with 94.93% of Progyny's stock owned by institutional investors.
• Progyny reported Q2 earnings per share of $0.19, missing estimates, while its revenue of $332.87 million exceeded predictions, reflecting 9.5% year-over-year growth.

Caption Management LLC trimmed its holdings in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 64.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,800 shares of the company's stock after selling 51,200 shares during the quarter. Caption Management LLC's holdings in Progyny were worth $643,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Progyny during the first quarter worth about $44,000. Brooklyn Investment Group grew its position in Progyny by 5,216.4% during 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 in the last quarter. GAMMA Investing LLC grew its position in Progyny by 233.9% during the first 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 grew its position in Progyny by 57.9% during the first 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, State of Wyoming grew its position in Progyny by 98.2% during the fourth quarter. State of Wyoming now owns 12,376 shares of the company's stock worth $213,000 after buying an additional 6,132 shares in the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Progyny news, EVP Allison Swartz sold 2,398 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $22.96, for a total transaction of $55,058.08. Following the completion of the transaction, the executive vice president owned 79,697 shares of the company's stock, valued at $1,829,843.12. This represents a 2.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kevin K. Gordon sold 2,500 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 12,501 shares of the company's stock, valued at $275,522.04. The trade was a 16.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,971 shares of company stock valued at $224,253. Insiders own 9.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on PGNY shares. Canaccord Genuity Group boosted their target price on Progyny from $21.00 to $23.00 and gave the stock a "hold" rating in a research report on Wednesday, August 20th. Raymond James Financial set a $28.00 price objective on Progyny in a report on Friday, August 8th. Leerink Partners upgraded Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price objective for the company in a report on Tuesday, July 8th. 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. Finally, Wall Street Zen upgraded Progyny from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $25.30.

Progyny Stock Up 0.6%

Shares of NASDAQ PGNY traded up $0.13 during midday trading on Wednesday, reaching $23.54. The company had a trading volume of 792,559 shares, compared to its average volume of 1,112,370. Progyny, Inc. has a one year low of $13.39 and a one year high of $26.76. The firm's fifty day moving average price is $22.88 and its 200-day moving average price is $22.23. The stock has a market cap of $2.02 billion, a PE ratio of 39.90, a price-to-earnings-growth ratio of 1.94 and a beta of 1.33.

Progyny (NASDAQ:PGNY - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.19 earnings per share 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 company had revenue of $332.87 million during the quarter, compared to the consensus estimate of $315.70 million. During the same period last year, the firm posted $0.17 EPS. The company's 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 research analysts expect that Progyny, Inc. will post 0.6 EPS for the current year.

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.