Hussman Strategic Advisors Inc. Buys Shares of 105,000 Progyny, Inc. $PGNY

Hussman Strategic Advisors Inc. purchased a new position in shares of Progyny, Inc. (NASDAQ:PGNY) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 105,000 shares of the company’s stock, valued at approximately $2,260,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PGNY. Ameriprise Financial Inc. increased its stake in Progyny by 37.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,996,957 shares of the company’s stock worth $43,933,000 after buying an additional 545,431 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Progyny in the second quarter worth $10,525,000. Nomura Holdings Inc. acquired a new position in shares of Progyny in the second quarter worth $9,368,000. Fort Washington Investment Advisors Inc. OH increased its position in shares of Progyny by 33.1% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 1,656,558 shares of the company’s stock worth $35,649,000 after acquiring an additional 412,395 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Progyny in the second quarter valued at $4,670,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Progyny Stock Performance

Shares of NASDAQ PGNY opened at $24.25 on Wednesday. The stock’s 50-day simple moving average is $25.72 and its 200-day simple moving average is $23.31. The firm has a market capitalization of $2.09 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93. Progyny, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $28.75.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.39 by $0.06. The company had revenue of $313.35 million for the quarter, compared to analyst estimates of $299.23 million. Progyny had a net margin of 4.46% and a return on equity of 10.71%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 earnings per share. 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, sell-side analysts forecast that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on PGNY. Barclays assumed coverage on Progyny in a research note on Monday, December 8th. They set an “overweight” rating and a $29.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Progyny in a research report on Monday, December 29th. JPMorgan Chase & Co. set a $35.00 target price on shares of Progyny in a research note on Wednesday, January 21st. Zacks Research upgraded shares of Progyny from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 1st. Finally, Truist Financial upgraded shares of Progyny from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.36.

Insider Buying and Selling at Progyny

In related news, CFO Mark S. Livingston sold 21,303 shares of the business’s 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 directly owned 48,358 shares of the company’s stock, valued at $1,233,129. The trade was a 30.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter Anevski bought 79,500 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were purchased at an average price of $24.29 per share, for a total transaction of $1,931,055.00. Following the transaction, the chief executive officer directly owned 680,251 shares of the company’s stock, valued at approximately $16,523,296.79. This represents a 13.23% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 22,046 shares of company stock worth $561,691 over the last quarter. 9.40% of the stock is owned by company insiders.

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.