Short Interest in Progyny, Inc. (NASDAQ:PGNY) Declines By 23.3%

Progyny, Inc. (NASDAQ:PGNY) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totaling 4,348,246 shares, a decrease of 23.3% from the December 15th total of 5,672,029 shares. Currently, 5.6% of the company’s shares are short sold. Based on an average trading volume of 1,402,238 shares, the days-to-cover ratio is currently 3.1 days. Based on an average trading volume of 1,402,238 shares, the days-to-cover ratio is currently 3.1 days. Currently, 5.6% of the company’s shares are short sold.

Progyny Stock Performance

Shares of PGNY traded up $0.21 during trading hours on Friday, hitting $24.52. 1,345,594 shares of the company were exchanged, compared to its average volume of 1,292,344. The company has a market cap of $2.11 billion, a PE ratio of 38.92, a PEG ratio of 1.55 and a beta of 0.93. The firm’s 50 day moving average is $25.69 and its 200-day moving average is $23.19. Progyny has a 52 week low of $17.98 and a 52 week high of $28.75.

Progyny (NASDAQ:PGNY) last posted its earnings results on Thursday, November 6th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.06. Progyny had a return on equity of 10.71% and a net margin of 4.46%.The firm had revenue of $313.35 million during the quarter, compared to analyst estimates of $299.23 million. During the same period in the previous year, the company earned $0.11 EPS. The company’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 and its Q4 2025 guidance at 0.370-0.400 EPS. As a group, equities analysts forecast that Progyny will post 0.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PGNY has been the topic of a number of research reports. KeyCorp upped their target price on Progyny from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. Barclays initiated coverage on shares of Progyny in a research report on Monday, December 8th. They issued an “overweight” rating and a $29.00 target price for the company. Canaccord Genuity Group boosted their price target on shares of Progyny from $23.00 to $26.00 and gave the company a “hold” rating in a report on Monday, November 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Progyny in a research note on Monday, December 29th. Finally, Zacks Research raised Progyny from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Progyny has an average rating of “Moderate Buy” and an average target price of $28.40.

Insider Buying and Selling

In other news, CEO Peter Anevski acquired 79,500 shares of the stock in a transaction on Thursday, November 13th. The shares were purchased at an average cost of $24.29 per share, for a total transaction of $1,931,055.00. Following the transaction, the chief executive officer owned 680,251 shares in the company, valued at approximately $16,523,296.79. This trade represents a 13.23% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark S. Livingston sold 21,303 shares of the stock in a transaction on 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 owned 48,358 shares of the company’s stock, valued at $1,233,129. The trade was a 30.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,046 shares of company stock valued at $561,691 in the last ninety days. Company insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PGNY. Nordea Investment Management AB lifted its holdings in shares of Progyny by 0.6% during the 2nd quarter. Nordea Investment Management AB now owns 183,362 shares of the company’s stock worth $4,052,000 after acquiring an additional 1,140 shares during the period. Cresset Asset Management LLC lifted its position in shares of Progyny by 715.3% during the 2nd quarter. Cresset Asset Management LLC now owns 85,053 shares of the company’s stock worth $1,871,000 after buying an additional 74,621 shares during the period. Voya Investment Management LLC boosted its stake in Progyny by 258.2% in the 1st quarter. Voya Investment Management LLC now owns 185,495 shares of the company’s stock valued at $4,144,000 after buying an additional 133,703 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in Progyny by 88.0% in the second quarter. Y Intercept Hong Kong Ltd now owns 56,196 shares of the company’s stock valued at $1,236,000 after acquiring an additional 26,310 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Progyny during the second quarter worth $327,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

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.