Perbak Capital Partners LLP Takes $272,000 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 stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,173 shares of the company's stock, valued at approximately $272,000.

Several other hedge funds have also recently bought and sold shares of the business. New York State Teachers Retirement System raised its holdings in Progyny by 0.7% in the first quarter. New York State Teachers Retirement System now owns 73,200 shares of the company's stock valued at $1,635,000 after buying an additional 500 shares during the period. Voya Investment Management LLC raised its holdings in Progyny by 1.4% in the fourth 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 during the period. Polen Capital Management LLC raised its holdings in Progyny by 0.3% in the first quarter. Polen Capital Management LLC now owns 261,506 shares of the company's stock valued at $5,842,000 after buying an additional 798 shares during the period. Invesco Ltd. raised its holdings in Progyny by 0.4% in the first quarter. Invesco Ltd. now owns 275,936 shares of the company's stock valued at $6,164,000 after buying an additional 1,117 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in Progyny in the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 94.93% of the company's stock.

Insiders Place Their Bets

In other Progyny news, EVP Allison Swartz sold 2,398 shares of Progyny stock in a transaction 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 completion of the transaction, the executive vice president owned 79,697 shares of the company's stock, valued at $1,829,843.12. The trade was a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kevin K. Gordon sold 2,500 shares of Progyny stock in a transaction on Monday, August 11th. The stock was sold at an average price of $22.04, for a total transaction of $55,100.00. Following the completion of the transaction, the director directly owned 12,501 shares of the company's stock, valued at approximately $275,522.04. This represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,570 shares of company stock valued at $238,348 over the last 90 days. 9.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports 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 research note on Thursday, July 17th. Leerink Partnrs raised shares of Progyny from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 8th. Cantor Fitzgerald reissued an "overweight" rating and set a $28.00 price target (up previously from $26.00) on shares of Progyny in a research report on Friday, August 8th. JPMorgan Chase & Co. raised their price target 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, Wall Street Zen raised shares of Progyny from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Progyny presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.30.

Progyny Trading Up 0.3%

Progyny stock traded up $0.07 during mid-day trading on Monday, reaching $22.62. The company's stock had a trading volume of 257,665 shares, compared to its average volume of 1,379,916. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 38.34, a PEG ratio of 1.84 and a beta of 1.33. The business has a 50 day moving average price of $22.94 and a 200-day moving average price of $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 released its quarterly earnings data on Thursday, August 7th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.23). The business had revenue of $332.87 million during the quarter, compared to analyst estimates of $315.70 million. Progyny had a return on equity of 10.69% and a net margin of 4.28%.The business's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 EPS. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. On average, equities analysts expect that Progyny, Inc. will post 0.6 EPS for the current fiscal 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.