Kornitzer Capital Management Inc. KS Trims Holdings in Progyny, Inc. $PGNY

Kornitzer Capital Management Inc. KS trimmed its position in shares of Progyny, Inc. (NASDAQ:PGNY) by 16.6% during the 3rd quarter, Holdings Channel reports. The firm owned 426,931 shares of the company’s stock after selling 85,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Progyny were worth $9,188,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Y Intercept Hong Kong Ltd boosted its stake in shares of Progyny by 35.2% in the third quarter. Y Intercept Hong Kong Ltd now owns 76,004 shares of the company’s stock worth $1,636,000 after acquiring an additional 19,808 shares during the period. Strs Ohio boosted its stake in Progyny by 278.8% in the 3rd quarter. Strs Ohio now owns 37,500 shares of the company’s stock worth $807,000 after purchasing an additional 27,600 shares during the period. Covestor Ltd raised its position in shares of Progyny by 164.9% during the third quarter. Covestor Ltd now owns 2,609 shares of the company’s stock valued at $56,000 after buying an additional 1,624 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Progyny by 8.7% in the third quarter. Amalgamated Bank now owns 23,008 shares of the company’s stock worth $495,000 after buying an additional 1,833 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Progyny during the third quarter worth $487,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen raised shares of Progyny from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Citigroup upgraded Progyny to an “outperform” rating in a research report on Tuesday, January 20th. BTIG Research reissued a “buy” rating on shares of Progyny in a research note on Wednesday, January 21st. KeyCorp lifted their price objective on Progyny from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Finally, Citizens Jmp upgraded Progyny from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.36.

Progyny Price Performance

Shares of NASDAQ PGNY opened at $24.84 on Tuesday. Progyny, Inc. has a 1-year low of $17.98 and a 1-year high of $28.75. The business’s 50 day moving average is $25.75 and its two-hundred day moving average is $23.31. The stock has a market capitalization of $2.14 billion, a P/E ratio of 39.43, a PEG ratio of 1.60 and a beta of 0.93.

Progyny (NASDAQ:PGNY) last released its 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. The firm had revenue of $313.35 million for the quarter, compared to the consensus estimate of $299.23 million. Progyny had a return on equity of 10.71% and a net margin of 4.46%.The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS. 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 research analysts anticipate that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Peter Anevski purchased 79,500 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average cost of $24.29 per share, with a total value of $1,931,055.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark S. Livingston sold 21,303 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $25.50, for a total transaction of $543,226.50. Following the completion of the sale, the chief financial officer directly owned 48,358 shares in the company, valued at $1,233,129. This trade represents a 30.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 22,046 shares of company stock valued at $561,691 in the last 90 days. Company insiders own 9.40% of the company’s stock.

Progyny 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.