Caxton Associates LLP Takes Position in Progyny, Inc. $PGNY

Key Points

• Caxton Associates LLP has acquired a new stake in Progyny, Inc., purchasing 24,825 shares valued at approximately $555,000 in the first quarter.
• Several institutional investors have significantly modified their holdings in Progyny, with Nuveen LLC leading with a new position valued at $13.6 million.
• Progyny's stock has received multiple price target upgrades from analysts, with an average target price now around $25.30, indicating a generally positive outlook for the company.

Caxton Associates LLP acquired a new stake in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,825 shares of the company's stock, valued at approximately $555,000.

A number of other large investors also recently modified their holdings of PGNY. Nuveen LLC purchased a new stake in Progyny in the 1st quarter valued at $13,645,000. Voloridge Investment Management LLC boosted its position in Progyny by 85.5% in the fourth quarter. Voloridge Investment Management LLC now owns 1,197,993 shares of the company's stock worth $20,665,000 after purchasing an additional 552,066 shares during the last quarter. CenterBook Partners LP grew its stake in Progyny by 458.2% in the 1st quarter. CenterBook Partners LP now owns 515,626 shares of the company's stock valued at $11,519,000 after purchasing an additional 423,257 shares during the period. Deutsche Bank AG grew its stake in Progyny by 533.2% in the 4th quarter. Deutsche Bank AG now owns 376,357 shares of the company's stock valued at $6,492,000 after purchasing an additional 316,918 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Progyny by 1,060.7% during the 1st quarter. AQR Capital Management LLC now owns 332,386 shares of the company's stock valued at $7,425,000 after purchasing an additional 303,750 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Allison Swartz sold 2,398 shares of the business's stock in a transaction dated 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 directly owned 79,697 shares in the company, valued at $1,829,843.12. The trade was a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin K. Gordon sold 2,500 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $22.04, for a total value of $55,100.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 7,895 shares of company stock worth $179,311 in the last ninety days. 9.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PGNY. Cantor Fitzgerald reissued 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 boosted their target price on shares of Progyny from $21.00 to $23.00 and gave the company a "hold" rating in a research note on Wednesday, August 20th. Raymond James Financial set a $28.00 target price on shares of Progyny in a research report on Friday, August 8th. Leerink Partnrs raised shares of Progyny from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, Leerink Partners upgraded Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price objective on the stock in a research note on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.30.

Progyny Price Performance

Shares of NASDAQ:PGNY traded up $0.15 during trading on Wednesday, hitting $21.92. 115,408 shares of the company were exchanged, compared to its average volume of 1,364,879. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $26.76. The stock has a 50 day moving average of $23.02 and a 200 day moving average of $22.20. The company has a market cap of $1.88 billion, a PE ratio of 37.13, a P/E/G ratio of 1.81 and a beta of 1.33.

Progyny (NASDAQ:PGNY - Get Free Report) last released its quarterly earnings data 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 company had revenue of $332.87 million for 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 business's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm 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 forecast that Progyny, Inc. will post 0.6 EPS for the current fiscal year.

Progyny 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.