Graham Capital Management L.P. Takes 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) during the first quarter, according to its most recent filing with the SEC. The firm 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 SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Voloridge Investment Management LLC raised its holdings 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 in the last quarter. Dimensional Fund Advisors LP grew its position in Progyny by 6.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,186,027 shares of the company's stock valued at $20,458,000 after acquiring an additional 74,740 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Progyny by 3.7% during the 4th quarter. Bank of America Corp DE now owns 952,777 shares of the company's stock worth $16,435,000 after purchasing an additional 33,668 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Progyny by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 689,443 shares of the company's stock valued at $15,402,000 after buying an additional 51,810 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Progyny by 67.7% during the first quarter. Wellington Management Group LLP now owns 660,982 shares of the company's stock worth $14,766,000 after acquiring an additional 266,853 shares during the period. 94.93% of the stock is currently owned by institutional investors.

Insider Activity at Progyny

In related news, EVP Allison Swartz sold 2,398 shares of Progyny stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $22.96, for a total value of $55,058.08. Following the transaction, the executive vice president directly owned 79,697 shares of the company's stock, valued at $1,829,843.12. This trade represents a 2.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Cheryl Scott sold 2,675 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total transaction of $59,037.25. Following the sale, the director directly owned 14,112 shares of the company's stock, valued at approximately $311,451.84. The trade was a 15.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,570 shares of company stock worth $238,348. Insiders own 9.40% of the company's stock.

Analysts Set New Price Targets

PGNY has been the subject of several analyst reports. Truist Financial boosted their target price on Progyny from $24.00 to $27.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Cantor Fitzgerald restated an "overweight" rating and set a $28.00 price target (up from $26.00) on shares of Progyny in a report on Friday, August 8th. Raymond James Financial set a $28.00 price target on shares of Progyny in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Progyny from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Canaccord Genuity Group upped their price objective on shares of Progyny from $21.00 to $23.00 and gave the stock a "hold" rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Progyny has an average rating of "Moderate Buy" and a consensus price target of $25.30.

Progyny Price Performance

PGNY traded down $1.01 during trading on Friday, reaching $22.55. 978,886 shares of the stock were exchanged, compared to its average volume of 1,029,759. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 38.22, a P/E/G ratio of 1.84 and a beta of 1.33. The business's 50 day moving average price is $22.94 and its two-hundred day moving average price is $22.23. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $26.76.

Progyny (NASDAQ:PGNY - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.23). The firm had revenue of $332.87 million for the quarter, compared to the consensus estimate of $315.70 million. Progyny had a return on equity of 10.69% and a net margin of 4.28%.The company's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 EPS. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. On average, analysts anticipate 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.