Fred Alger Management LLC Reduces Position in Progyny, Inc. $PGNY

Fred Alger Management LLC decreased its holdings in Progyny, Inc. (NASDAQ:PGNY) by 17.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,416,816 shares of the company’s stock after selling 289,830 shares during the period. Fred Alger Management LLC’s holdings in Progyny were worth $36,384,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new stake in Progyny in the 4th quarter valued at about $25,000. Hantz Financial Services Inc. raised its holdings in Progyny by 79.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company’s stock valued at $43,000 after acquiring an additional 742 shares during the last quarter. Quarry LP raised its holdings in Progyny by 2,004.1% in the 3rd quarter. Quarry LP now owns 3,598 shares of the company’s stock valued at $77,000 after acquiring an additional 3,427 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Progyny in the 2nd quarter valued at about $77,000. Finally, New Age Alpha Advisors LLC acquired a new stake in Progyny in the 4th quarter valued at about $94,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

Progyny Price Performance

Progyny stock opened at $26.60 on Wednesday. The firm has a 50 day simple moving average of $21.87 and a 200-day simple moving average of $22.28. Progyny, Inc. has a 1-year low of $16.10 and a 1-year high of $28.75. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 34.55, a price-to-earnings-growth ratio of 2.37 and a beta of 1.03.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.24. The firm had revenue of $328.50 million during the quarter, compared to analysts’ expectations of $326.47 million. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The firm’s quarterly revenue was down 26.4% on a year-over-year basis. During the same quarter last year, the company posted $0.17 EPS. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. Equities analysts expect that Progyny, Inc. will post 1.07 earnings per share for the current fiscal year.

Progyny declared that its board has authorized a share buyback program on Tuesday, May 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to buy up to 10.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have commented on PGNY shares. Canaccord Genuity Group upgraded shares of Progyny from a “hold” rating to a “buy” rating and increased their price objective for the company from $19.00 to $30.00 in a report on Tuesday, May 19th. Barclays increased their price objective on shares of Progyny from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Zacks Research downgraded shares of Progyny from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Citigroup reiterated an “outperform” rating on shares of Progyny in a report on Monday, May 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Progyny in a research note on Friday, March 27th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $29.67.

Insider Activity

In related news, CFO Mark S. Livingston sold 8,275 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $25.50, for a total transaction of $211,012.50. Following the completion of the transaction, the chief financial officer owned 79,063 shares of the company’s stock, valued at approximately $2,016,106.50. This trade represents a 9.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Geoffrey Clapp sold 1,530 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $25.58, for a total transaction of $39,137.40. Following the transaction, the insider directly owned 59,117 shares of the company’s stock, valued at $1,512,212.86. The trade was a 2.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 36,916 shares of company stock worth $939,875 in the last three months. 9.90% of the stock is currently owned by corporate 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.