River Road Asset Management LLC Grows Position in Progyny, Inc. $PGNY

Key Points

• River Road Asset Management increased its Progyny stake by 13.9% in the fourth quarter, buying 83,912 additional shares and bringing its total holding to 687,824 shares valued at about $17.7 million.
• Several other institutional investors also adjusted positions, and hedge funds and institutions now own 94.93% of Progyny’s stock, while insiders have sold 36,916 shares over the last 90 days.
• Progyny reported stronger-than-expected quarterly earnings and announced a $200 million share buyback, even as analysts remain generally bullish with a consensus rating of Moderate Buy and a target price of $29.67.

River Road Asset Management LLC grew its position in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 687,824 shares of the company's stock after purchasing an additional 83,912 shares during the period. River Road Asset Management LLC owned approximately 0.80% of Progyny worth $17,663,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in Progyny in the fourth quarter valued at approximately $25,000. Hantz Financial Services Inc. grew its stake in Progyny by 79.4% during the fourth quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company's stock worth $43,000 after buying an additional 742 shares during the period. Quarry LP increased its position in shares of Progyny by 2,004.1% in the third quarter. Quarry LP now owns 3,598 shares of the company's stock worth $77,000 after acquiring an additional 3,427 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Progyny in the second quarter worth $77,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Progyny in the 4th quarter valued at $94,000. Hedge funds and other institutional investors own 94.93% of the company's stock.

Insiders Place Their Bets

In related news, Director Kevin K. Gordon sold 5,500 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $24.99, for a total value of $137,445.00. Following the completion of the transaction, the director owned 9,318 shares of the company's stock, valued at approximately $232,856.82. This represents a 37.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark S. Livingston sold 8,275 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $25.50, for a total value of $211,012.50. Following the sale, the chief financial officer owned 79,063 shares of the company's stock, valued at approximately $2,016,106.50. This trade represents a 9.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 36,916 shares of company stock valued at $939,875. Insiders own 9.90% of the company's stock.

Progyny Stock Performance

PGNY opened at $26.08 on Friday. The company has a fifty day simple moving average of $22.42 and a 200 day simple moving average of $22.30. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 2.30 and a beta of 1.03. Progyny, Inc. has a twelve month low of $16.10 and a twelve month high of $28.75.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.24. The firm had revenue of $328.50 million for the quarter, compared to analyst estimates of $326.46 million. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The firm's revenue was down 26.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 EPS. 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, analysts forecast that Progyny, Inc. will post 1.07 earnings per share for the current fiscal year.

Progyny declared that its board has approved a share buyback plan on Tuesday, May 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PGNY. Zacks Research cut shares of Progyny from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 5th. Wall Street Zen upgraded Progyny from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. Canaccord Genuity Group raised Progyny from a "hold" rating to a "buy" rating and upped their target price for the stock from $19.00 to $30.00 in a research report on Tuesday, May 19th. Jefferies Financial Group reiterated a "buy" rating and issued a $30.00 target price on shares of Progyny in a research note on Friday, March 6th. Finally, Citigroup reiterated an "outperform" rating on shares of Progyny in a report on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $29.67.

Progyny Profile

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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