AlphaQuest LLC Makes New $782,000 Investment in Progyny, Inc. $PGNY

AlphaQuest LLC bought a new stake in shares of Progyny, Inc. (NASDAQ:PGNY) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 36,319 shares of the company’s stock, valued at approximately $782,000.

Other large investors also recently bought and sold shares of the company. Cetera Trust Company N.A lifted its position in Progyny by 303.1% during the second quarter. Cetera Trust Company N.A now owns 1,310 shares of the company’s stock valued at $29,000 after purchasing an additional 985 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Progyny by 147.3% in the 3rd quarter. Federated Hermes Inc. now owns 1,375 shares of the company’s stock valued at $30,000 after acquiring an additional 819 shares during the last quarter. Versant Capital Management Inc grew its position in Progyny by 61.8% in the third quarter. Versant Capital Management Inc now owns 2,340 shares of the company’s stock worth $50,000 after acquiring an additional 894 shares in the last quarter. Covestor Ltd increased its stake in Progyny by 164.9% during the third quarter. Covestor Ltd now owns 2,609 shares of the company’s stock worth $56,000 after acquiring an additional 1,624 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Progyny during the second quarter worth approximately $77,000. Institutional investors own 94.93% of the company’s stock.

Progyny Price Performance

Shares of PGNY opened at $23.24 on Wednesday. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 36.89, a PEG ratio of 1.53 and a beta of 0.96. The company has a 50-day moving average of $25.54 and a 200 day moving average of $23.35. Progyny, Inc. has a 1-year low of $17.98 and a 1-year high of $28.75.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.06. Progyny had a net margin of 4.46% and a return on equity of 10.71%. The firm had revenue of $313.35 million during the quarter, compared to the consensus estimate of $299.23 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS and its Q4 2025 guidance at 0.370-0.400 EPS. On average, equities analysts anticipate that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Truist Financial upgraded Progyny from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Thursday, January 8th. JPMorgan Chase & Co. set a $35.00 price objective on shares of Progyny in a research note on Wednesday, January 21st. KeyCorp boosted their price objective on shares of Progyny from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Barclays started coverage on shares of Progyny in a report on Monday, December 8th. They issued an “overweight” rating and a $29.00 target price for the company. Finally, BTIG Research reissued a “buy” rating on shares of Progyny in a research note on Wednesday, January 21st. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.36.

Insiders Place Their Bets

In related news, CFO Mark S. Livingston sold 21,303 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $25.50, for a total value of $543,226.50. Following the completion of the sale, the chief financial officer directly owned 48,358 shares of the company’s stock, valued at $1,233,129. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter Anevski bought 79,500 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were acquired at an average price of $24.29 per share, for a total transaction of $1,931,055.00. Following the completion of the acquisition, the chief executive officer owned 680,251 shares in the company, valued at $16,523,296.79. This represents a 13.23% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 22,046 shares of company stock worth $561,691 in the last three months. Corporate insiders own 9.40% of the company’s stock.

Progyny Company 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.