Trexquant Investment LP Sells 359,213 Shares of Progyny, Inc. $PGNY

Key Points

• Trexquant Investment LP significantly reduced its stake in Progyny, Inc. by 59.9%, selling 359,213 shares, leaving it with 240,950 shares, valued at $5.4 million.
• Multiple institutional investors, including BI Asset Management and Brooklyn Investment Group, made notable changes to their positions in Progyny, demonstrating increased interest in the company.
• Analysts have raised their price targets for Progyny, with several firms issuing ratings up to $28.00, indicating a mostly positive outlook for the stock.

Trexquant Investment LP reduced its stake in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 59.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 240,950 shares of the company's stock after selling 359,213 shares during the quarter. Trexquant Investment LP owned 0.28% of Progyny worth $5,383,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Progyny during the first quarter valued at about $44,000. Brooklyn Investment Group increased its position in shares of Progyny by 5,216.4% in the first quarter. Brooklyn Investment Group now owns 3,243 shares of the company's stock worth $72,000 after purchasing an additional 3,182 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Progyny by 233.9% in the first quarter. GAMMA Investing LLC now owns 5,379 shares of the company's stock worth $120,000 after purchasing an additional 3,768 shares during the last quarter. AlphaQuest LLC increased its position in shares of Progyny by 57.9% in the first quarter. AlphaQuest LLC now owns 5,668 shares of the company's stock worth $127,000 after purchasing an additional 2,079 shares during the last quarter. Finally, Sei Investments Co. bought a new position in shares of Progyny in the first quarter worth approximately $228,000. 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 during trading hours on Friday, reaching $22.55. 978,886 shares of the stock traded hands, 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. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 38.22, a P/E/G ratio of 1.84 and a beta of 1.33. Progyny, Inc. has a one year low of $13.39 and a one year high of $26.76.

Progyny (NASDAQ:PGNY - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.23). Progyny had a net margin of 4.28% and a return on equity of 10.69%. The firm had revenue of $332.87 million for the quarter, compared to the consensus estimate of $315.70 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The company's revenue for the quarter was up 9.5% compared to the same quarter last year. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. Sell-side analysts anticipate that Progyny, Inc. will post 0.6 earnings per share for the current year.

Insider Activity

In related news, Director Kevin K. Gordon sold 2,500 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cheryl Scott sold 2,675 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $22.07, for a total value of $59,037.25. Following the completion of the transaction, the director directly owned 14,112 shares in the company, valued at approximately $311,451.84. This represents a 15.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,570 shares of company stock valued at $238,348 in the last ninety days. Corporate insiders own 9.40% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on PGNY shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $28.00 price target (up from $26.00) on shares of Progyny in a research report on Friday, August 8th. Truist Financial raised their price target on Progyny from $24.00 to $27.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Leerink Partnrs raised Progyny from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 8th. Raymond James Financial set a $28.00 price objective on Progyny in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. raised their price objective on Progyny from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, August 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. According to MarketBeat.com, Progyny presently has an average rating of "Moderate Buy" and a consensus target price 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.