Invenomic Capital Management LP Has $7.61 Million Stock Holdings in Progyny, Inc. $PGNY

Key Points

• Invenomic Capital Management LP significantly reduced its stake in Progyny, Inc. by 79.0% during the first quarter, selling over 1.2 million shares.
• Analysts have recently increased price targets for Progyny, with Truist Financial setting a new target of $27.00 and several others targeting $28.00; the average rating is now "Moderate Buy."
• Insider trading activity included sales by directors, with Cheryl Scott and Kevin K. Gordon reducing their holdings by 15.93% and 16.67% respectively in recent months.

Invenomic Capital Management LP reduced its position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 79.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 340,668 shares of the company's stock after selling 1,281,461 shares during the quarter. Invenomic Capital Management LP owned 0.40% of Progyny worth $7,611,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Progyny in the first quarter worth $44,000. Brooklyn Investment Group increased its stake in shares of Progyny by 5,216.4% in the first quarter. Brooklyn Investment Group now owns 3,243 shares of the company's stock worth $72,000 after acquiring an additional 3,182 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Progyny by 233.9% in the first quarter. GAMMA Investing LLC now owns 5,379 shares of the company's stock worth $120,000 after acquiring an additional 3,768 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Progyny by 57.9% in the first quarter. AlphaQuest LLC now owns 5,668 shares of the company's stock worth $127,000 after acquiring an additional 2,079 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in shares of Progyny in the first quarter worth $228,000. 94.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kevin K. Gordon sold 2,500 shares of the 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 completion of the sale, the director owned 12,501 shares in the company, valued at approximately $275,522.04. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allison Swartz sold 2,398 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $22.96, for a total transaction of $55,058.08. Following the completion of the sale, the executive vice president owned 79,697 shares of the company's stock, valued at approximately $1,829,843.12. The trade was a 2.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,895 shares of company stock valued at $179,311. 9.40% of the stock is owned by corporate insiders.

Progyny Price Performance

Shares of NASDAQ PGNY traded down $0.26 during mid-day trading on Wednesday, hitting $22.71. The company had a trading volume of 231,714 shares, compared to its average volume of 1,375,314. The business's 50-day simple moving average is $22.97 and its 200-day simple moving average is $22.22. Progyny, Inc. has a 12 month low of $13.39 and a 12 month high of $26.76. The firm has a market cap of $1.95 billion, a P/E ratio of 38.46, a PEG ratio of 1.87 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 the consensus estimate 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 quarter in the previous year, the business posted $0.17 EPS. The firm's quarterly 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, sell-side analysts predict that Progyny, Inc. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PGNY shares. Truist Financial upped their price target on shares of Progyny from $24.00 to $27.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Raymond James Financial set a $28.00 price target on shares of Progyny in a research note on Friday, August 8th. Cantor Fitzgerald reissued an "overweight" rating and set a $28.00 target price (up from $26.00) on shares of Progyny in a research report on Friday, August 8th. JPMorgan Chase & Co. increased their target price on shares of Progyny from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 26th. Finally, Leerink Partners raised shares of Progyny from a "market perform" rating to an "outperform" rating and set a $28.00 target price on the stock in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $25.30.

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.