Progyny, Inc. $PGNY Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors cut its Progyny stake by 24.3% in the fourth quarter, selling 93,594 shares and leaving it with 291,485 shares valued at about $7.5 million.
• Other large investors were more aggressive buyers, with Wellington Management, Barclays, and others increasing positions; institutional investors now own 94.93% of Progyny.
• Progyny reported stronger-than-expected quarterly earnings, and its board approved a $200 million share buyback authorizing repurchases of up to 10.3% of outstanding shares.

Pacer Advisors Inc. lowered its holdings in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 24.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 291,485 shares of the company's stock after selling 93,594 shares during the quarter. Pacer Advisors Inc. owned 0.34% of Progyny worth $7,485,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PGNY. Wellington Management Group LLP increased its position in shares of Progyny by 260.9% during the 4th quarter. Wellington Management Group LLP now owns 2,243,268 shares of the company's stock worth $57,607,000 after purchasing an additional 1,621,688 shares during the last quarter. Loomis Sayles & Co. L P acquired a new position in Progyny in the fourth quarter valued at about $19,917,000. Barclays PLC boosted its stake in Progyny by 79.2% during the third quarter. Barclays PLC now owns 1,575,470 shares of the company's stock worth $33,904,000 after buying an additional 696,447 shares during the period. Ameriprise Financial Inc. boosted its stake in Progyny by 37.6% during the second quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company's stock worth $43,933,000 after buying an additional 545,431 shares during the period. Finally, Norges Bank acquired a new stake in shares of Progyny during the fourth quarter valued at about $10,167,000. Institutional investors and hedge funds own 94.93% of the company's stock.

Insider Transactions at Progyny

In related news, Director Kevin K. Gordon sold 5,500 shares of the business's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $24.99, for a total transaction of $137,445.00. Following the completion of the transaction, the director directly owned 9,318 shares of the company's stock, valued at $232,856.82. The trade was a 37.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Geoffrey Clapp sold 1,530 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $25.58, for a total value of $39,137.40. Following the completion of the sale, the insider directly owned 59,117 shares in the company, valued at $1,512,212.86. This represents a 2.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 36,916 shares of company stock valued at $939,875 in the last 90 days. Insiders own 9.90% of the company's stock.

Progyny Price Performance

Progyny stock opened at $26.08 on Monday. Progyny, Inc. has a 52-week low of $16.10 and a 52-week high of $28.75. The firm has a market cap of $2.04 billion, a PE ratio of 33.87, a price-to-earnings-growth ratio of 2.30 and a beta of 1.03. The company's 50 day moving average is $22.42 and its two-hundred day moving average is $22.28.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.26 by $0.24. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The business had revenue of $328.50 million during the quarter, compared to the consensus estimate of $326.46 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The company's quarterly revenue was down 26.4% compared to the same quarter last year. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. On average, equities research analysts anticipate that Progyny, Inc. will post 1.07 earnings per share for the current fiscal year.

Progyny announced that its Board of Directors has authorized a stock buyback plan on Tuesday, May 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays upped their price objective on shares of Progyny from $23.00 to $27.00 and gave the stock an "overweight" rating in a report on Friday, May 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of Progyny in a report on Friday, March 27th. Jefferies Financial Group reissued a "buy" rating and issued a $30.00 target price on shares of Progyny in a research report on Friday, March 6th. BTIG Research decreased their price target on Progyny from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Finally, Wall Street Zen upgraded Progyny from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.67.

About Progyny

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company's digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny's offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.

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