Graham Capital Management L.P. Takes $1.02 Million Position in Progyny, Inc. $PGNY

Key Points

• Graham Capital Management L.P. acquired a $1.02 million stake in Progyny, purchasing 45,664 shares, representing about 0.05% of the company's stock.
• Progyny's recent financial performance showed a quarterly revenue increase of 9.5% year-over-year, with reported earnings per share (EPS) of $0.19, missing estimates by $0.23.
• Analysts have raised their ratings on Progyny, with the stock currently averaging a rating of "Moderate Buy" and a target price of $25.30.

Graham Capital Management L.P. bought a new position in Progyny, Inc. (NASDAQ:PGNY - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 45,664 shares of the company's stock, valued at approximately $1,020,000. Graham Capital Management L.P. owned approximately 0.05% of Progyny as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Ieq Capital LLC raised its holdings in Progyny by 218.8% in the first quarter. Ieq Capital LLC now owns 78,993 shares of the company's stock worth $1,765,000 after purchasing an additional 54,217 shares in the last quarter. FORA Capital LLC raised its holdings in Progyny by 50.9% in the first quarter. FORA Capital LLC now owns 23,780 shares of the company's stock worth $531,000 after purchasing an additional 8,022 shares in the last quarter. AlphaQuest LLC raised its holdings in Progyny by 57.9% in the first quarter. AlphaQuest LLC now owns 5,668 shares of the company's stock worth $127,000 after purchasing an additional 2,079 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Progyny in the first quarter worth about $44,000. Finally, Hsbc Holdings PLC raised its holdings in Progyny by 175.0% in the first quarter. Hsbc Holdings PLC now owns 96,511 shares of the company's stock worth $2,158,000 after purchasing an additional 61,416 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Progyny news, Director Kevin K. Gordon sold 2,500 shares of the company'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 value of $55,100.00. Following the sale, the director owned 12,501 shares in the company, valued at approximately $275,522.04. This represents a 16.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $55,058.08. Following the completion of the sale, the executive vice president owned 79,697 shares in the company, valued at approximately $1,829,843.12. This represents a 2.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,570 shares of company stock worth $238,348. Corporate insiders own 9.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PGNY shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $28.00 target price (up from $26.00) on shares of Progyny in a report on Friday, August 8th. Leerink Partners upgraded shares of Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 price objective on the stock in a report on Tuesday, July 8th. Truist Financial upped their price objective on shares of Progyny from $24.00 to $27.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Leerink Partnrs upgraded shares of Progyny from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, Canaccord Genuity Group upped their price objective on shares of Progyny from $21.00 to $23.00 and gave the company a "hold" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Progyny presently has an average rating of "Moderate Buy" and an average target price of $25.30.

Progyny Trading Down 0.0%

Progyny stock traded down $0.01 during mid-day trading on Tuesday, hitting $22.84. The company had a trading volume of 160,399 shares, compared to its average volume of 1,377,898. Progyny, Inc. has a 12-month low of $13.39 and a 12-month high of $26.76. The company's fifty day moving average is $22.95 and its 200-day moving average is $22.21. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 38.69, a P/E/G ratio of 1.84 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 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.23). Progyny had a return on equity of 10.69% and a net margin of 4.28%.The company had revenue of $332.87 million during the quarter, compared to analysts' expectations of $315.70 million. During the same quarter in the prior year, the company posted $0.17 EPS. The company'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, sell-side analysts expect 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.