Progyny, Inc. $PGNY Shares Sold by Invenomic Capital Management LP

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

A number of other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in Progyny by 1,060.7% in the first quarter. AQR Capital Management LLC now owns 332,386 shares of the company's stock worth $7,425,000 after acquiring an additional 303,750 shares during the last quarter. AWM Investment Company Inc. lifted its stake in Progyny by 12.5% in the first quarter. AWM Investment Company Inc. now owns 180,000 shares of the company's stock worth $4,021,000 after acquiring an additional 20,000 shares during the last quarter. Amundi lifted its stake in Progyny by 103.8% in the first quarter. Amundi now owns 11,419 shares of the company's stock worth $264,000 after acquiring an additional 5,817 shares during the last quarter. Perbak Capital Partners LLP purchased a new position in Progyny in the first quarter worth approximately $272,000. Finally, EP Wealth Advisors LLC purchased a new position in Progyny in the first quarter worth approximately $236,000. Hedge funds and other institutional investors own 94.93% of the company's stock.

Progyny Stock Performance

PGNY traded down $1.01 during trading on Friday, hitting $22.55. The stock had a trading volume of 978,886 shares, compared to its average volume of 945,986. The firm has a market capitalization of $1.94 billion, a P/E ratio of 38.22, a PEG ratio of 1.84 and a beta of 1.33. The company's 50-day moving average price is $22.94 and its 200 day moving average price is $22.22. Progyny, Inc. has a twelve month low of $13.39 and a twelve month high of $26.76.

Progyny (NASDAQ:PGNY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.23). The firm had revenue of $332.87 million during the quarter, compared to analyst estimates of $315.70 million. Progyny had a net margin of 4.28% and a return on equity of 10.69%. The business's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior 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. As a group, equities analysts expect that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Progyny

In other Progyny news, Director Kevin K. Gordon sold 2,500 shares of the business's stock in a transaction on Monday, August 11th. The shares were 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 approximately $275,522.04. The trade was a 16.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Allison Swartz sold 2,398 shares of the business's stock in a transaction on 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 transaction, the executive vice president directly owned 79,697 shares in the company, valued at $1,829,843.12. This represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,570 shares of company stock valued at $238,348. 9.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

PGNY has been the subject of several recent analyst reports. Leerink Partnrs upgraded shares of Progyny from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 8th. Canaccord Genuity Group boosted their price objective on shares of Progyny from $21.00 to $23.00 and gave the stock a "hold" rating in a research report on Wednesday, August 20th. Raymond James Financial set a $28.00 price objective on shares of Progyny in a research report on Friday, August 8th. JPMorgan Chase & Co. boosted their price objective 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, Cantor Fitzgerald restated an "overweight" rating and set a $28.00 price objective (up previously from $26.00) on shares of Progyny in a research report on Friday, August 8th. 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. Based on data from MarketBeat, Progyny presently 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.