Jupiter Asset Management Ltd. Takes $10.53 Million Position in Progyny, Inc. $PGNY

Jupiter Asset Management Ltd. purchased a new position in shares of Progyny, Inc. (NASDAQ:PGNY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 478,410 shares of the company’s stock, valued at approximately $10,525,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC lifted its position in Progyny by 116.9% in the first quarter. Cerity Partners LLC now owns 28,881 shares of the company’s stock valued at $645,000 after buying an additional 15,563 shares during the last quarter. CWM LLC raised its stake in shares of Progyny by 268.8% in the 1st quarter. CWM LLC now owns 23,479 shares of the company’s stock valued at $525,000 after acquiring an additional 17,112 shares during the period. Guidance Capital Inc. raised its stake in shares of Progyny by 13.7% in the 1st quarter. Guidance Capital Inc. now owns 25,018 shares of the company’s stock valued at $581,000 after acquiring an additional 3,017 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Progyny in the 1st quarter worth approximately $668,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Progyny during the 1st quarter worth approximately $1,946,000. 94.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Progyny news, EVP Allison Swartz sold 2,398 shares of the company’s 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 in the company, valued at $1,829,843.12. This represents a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 5,395 shares of company stock valued at $124,211 over the last three months. 9.40% of the stock is owned by insiders.

Progyny Price Performance

Shares of NASDAQ PGNY opened at $24.42 on Friday. The business has a 50-day moving average of $20.95 and a two-hundred day moving average of $21.89. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 2.05 and a beta of 1.29. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $26.76.

Progyny (NASDAQ:PGNY) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. Progyny had a net margin of 4.46% and a return on equity of 10.71%. The company had revenue of $313.35 million for the quarter, compared to analysts’ expectations of $299.23 million. During the same quarter last year, the company earned $0.11 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. Progyny has set its FY 2025 guidance at 1.790-1.820 EPS. Q4 2025 guidance at 0.370-0.400 EPS. As a group, equities research analysts expect that Progyny, Inc. will post 0.6 earnings per share for the current year.

Analyst Ratings Changes

PGNY has been the subject of several research reports. KeyCorp upgraded shares of Progyny from a “sector weight” rating to an “overweight” rating and set a $30.00 target price for the company in a report on Tuesday. Raymond James Financial set a $28.00 price target on Progyny in a research report on Friday, August 8th. Truist Financial lifted their price objective on Progyny from $24.00 to $27.00 and gave the company a “hold” rating in a research note on Thursday, July 17th. Canaccord Genuity Group boosted their price objective on Progyny from $21.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 20th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Progyny in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Progyny Company 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.