First Sabrepoint Capital Management LP Sells 200,000 Shares of Progyny, Inc. $PGNY

Key Points

• First Sabrepoint Capital Management LP has reduced its holdings in Progyny, Inc. by 35.7%, now owning 360,000 shares valued at approximately $8.04 million.
• Other hedge funds have increased their positions in Progyny, with Voloridge Investment Management growing its stake by 85.5% in the last quarter.
• Progyny reported earnings of $0.19 per share for the last quarter, missing estimates, but its revenue increased by 9.5% year-over-year.

First Sabrepoint Capital Management LP lowered its position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 35.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 360,000 shares of the company's stock after selling 200,000 shares during the quarter. Progyny accounts for approximately 3.0% of First Sabrepoint Capital Management LP's investment portfolio, making the stock its 13th largest position. First Sabrepoint Capital Management LP owned approximately 0.42% of Progyny worth $8,042,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PGNY. First Trust Advisors LP boosted its stake in Progyny by 13.1% during the fourth quarter. First Trust Advisors LP now owns 24,105 shares of the company's stock valued at $416,000 after buying an additional 2,794 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Progyny by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,186,027 shares of the company's stock valued at $20,458,000 after buying an additional 74,740 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Progyny by 6.3% during the fourth quarter. MetLife Investment Management LLC now owns 51,891 shares of the company's stock valued at $895,000 after buying an additional 3,085 shares in the last quarter. Stifel Financial Corp boosted its stake in Progyny by 48.5% during the fourth quarter. Stifel Financial Corp now owns 71,736 shares of the company's stock valued at $1,237,000 after buying an additional 23,425 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Progyny by 20.1% during the fourth quarter. Hsbc Holdings PLC now owns 35,095 shares of the company's stock valued at $603,000 after buying an additional 5,877 shares in the last quarter. Institutional investors own 94.93% of the company's stock.

Progyny Price Performance

Progyny stock traded down $1.21 during mid-day trading on Friday, hitting $22.35. The company's stock had a trading volume of 259,563 shares, compared to its average volume of 1,382,324. Progyny, Inc. has a 52-week low of $13.39 and a 52-week high of $26.76. The firm's 50 day moving average is $22.92 and its 200 day moving average is $22.24. The company has a market cap of $1.92 billion, a PE ratio of 37.97, a price-to-earnings-growth ratio of 1.92 and a beta of 1.33.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly 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 return on equity of 10.69% and a net margin of 4.28%.The firm had revenue of $332.87 million for the quarter, compared to analysts' expectations of $315.70 million. During the same period last year, the business earned $0.17 earnings per share. 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.

Insiders Place Their Bets

In other Progyny news, Director Kevin K. Gordon sold 2,500 shares of Progyny stock in a transaction that occurred on Monday, August 11th. The stock was 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Allison Swartz sold 2,398 shares of Progyny stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $22.96, for a total value of $55,058.08. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 9,971 shares of company stock valued at $224,253 in the last three months. Company insiders own 9.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PGNY shares. Truist Financial increased their price target on Progyny from $24.00 to $27.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Canaccord Genuity Group increased their price target on Progyny from $21.00 to $23.00 and gave the company a "hold" rating in a research report on Wednesday, August 20th. Leerink Partnrs upgraded Progyny from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. increased their price target on Progyny from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, August 26th. Finally, Wall Street Zen upgraded Progyny from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Progyny has a consensus rating of "Moderate Buy" and a consensus target price of $25.30.

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.