Perbak Capital Partners LLP Takes Position in Progyny, Inc. $PGNY

Key Points

• Perbak Capital Partners LLP has made a new investment in Progyny, Inc., acquiring 12,173 shares valued at approximately $272,000 during the first quarter.
• Progyny's stock opened at $23.41, with a market cap of $2.01 billion, while the company reported a 9.5% year-over-year revenue growth.
• Institutional ownership is significant, with over 94.93% of the stock held by hedge funds and other institutional investors, indicating strong institutional confidence in Progyny.

Perbak Capital Partners LLP purchased a new position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,173 shares of the company's stock, valued at approximately $272,000.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Progyny during the 1st quarter worth about $354,000. Oppenheimer Asset Management Inc. lifted its holdings in Progyny by 18.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 34,675 shares of the company's stock valued at $775,000 after buying an additional 5,459 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Progyny by 233.9% during the 1st quarter. GAMMA Investing LLC now owns 5,379 shares of the company's stock valued at $120,000 after buying an additional 3,768 shares in the last quarter. Cresset Asset Management LLC bought a new stake in Progyny during the 1st quarter valued at about $233,000. Finally, Voya Investment Management LLC lifted its holdings in Progyny by 1.4% during the 4th quarter. Voya Investment Management LLC now owns 51,792 shares of the company's stock valued at $893,000 after buying an additional 701 shares in the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

Progyny Stock Down 4.3%

Shares of Progyny stock traded down $1.01 on Friday, reaching $22.55. The stock had a trading volume of 978,886 shares, compared to its average volume of 1,029,759. The company has a 50 day moving average price of $22.94 and a 200 day moving average price of $22.23. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $26.76. The stock has a market capitalization of $1.94 billion, a P/E ratio of 38.22, a P/E/G ratio of 1.84 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). The company had revenue of $332.87 million for the quarter, compared to analysts' expectations of $315.70 million. Progyny had a return on equity of 10.69% and a net margin of 4.28%.The firm's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 EPS. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. On average, analysts forecast that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on PGNY. Truist Financial lifted 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. JPMorgan Chase & Co. boosted their price target on shares of Progyny from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, August 26th. Wall Street Zen upgraded shares of Progyny from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Cantor Fitzgerald restated an "overweight" rating and issued a $28.00 price target (up previously from $26.00) on shares of Progyny in a report on Friday, August 8th. Finally, Leerink Partnrs upgraded shares of Progyny from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 8th. One equities 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. According to MarketBeat, Progyny currently has a consensus rating of "Moderate Buy" and an average target price of $25.30.

Insider Activity at Progyny

In related 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 completion of the transaction, the director directly owned 12,501 shares in the company, valued at $275,522.04. The trade was a 16.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Allison Swartz sold 2,398 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $22.96, for a total transaction of $55,058.08. Following the transaction, the executive vice president owned 79,697 shares of the company's stock, 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. Insiders sold a total of 10,570 shares of company stock worth $238,348 in the last three months. Company insiders own 9.40% of the company's stock.

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.