Landscape Capital Management L.L.C. Reduces Position in Progyny, Inc. $PGNY

Landscape Capital Management L.L.C. lessened its position in shares of Progyny, Inc. (NASDAQ:PGNY) by 53.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 76,897 shares of the company’s stock after selling 88,191 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Progyny were worth $1,975,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PGNY. Royal Bank of Canada grew its stake in Progyny by 384.8% during the 1st quarter. Royal Bank of Canada now owns 13,027 shares of the company’s stock worth $291,000 after buying an additional 10,340 shares during the last quarter. Amundi grew its stake in shares of Progyny by 103.8% in the 1st quarter. Amundi now owns 11,419 shares of the company’s stock valued at $264,000 after purchasing an additional 5,817 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Progyny by 6.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,032 shares of the company’s stock valued at $5,630,000 after purchasing an additional 14,297 shares during the last quarter. Invesco Ltd. grew its stake in shares of Progyny by 37.4% in the 2nd quarter. Invesco Ltd. now owns 379,189 shares of the company’s stock valued at $8,342,000 after purchasing an additional 103,253 shares during the last quarter. Finally, Walleye Capital LLC grew its stake in shares of Progyny by 6.9% in the 2nd quarter. Walleye Capital LLC now owns 12,080 shares of the company’s stock valued at $266,000 after purchasing an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Analyst Upgrades and Downgrades

PGNY has been the topic of several analyst reports. Citigroup reiterated an “outperform” rating on shares of Progyny in a research note on Monday, May 11th. Barclays lifted their target price on Progyny from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Canaccord Genuity Group upgraded Progyny from a “hold” rating to a “buy” rating and lifted their target price for the company from $19.00 to $30.00 in a research note on Tuesday, May 19th. Jefferies Financial Group reiterated a “buy” rating and issued a $30.00 target price on shares of Progyny in a research note on Friday, March 6th. Finally, KeyCorp reduced their price target on Progyny from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Eleven analysts have rated the stock with a Buy rating and three have given 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 target price of $29.67.

Insider Activity

In related news, Director Cheryl Scott sold 7,439 shares of Progyny stock in a transaction on Monday, June 1st. The stock was sold at an average price of $26.39, for a total transaction of $196,315.21. Following the completion of the transaction, the director directly owned 19,772 shares of the company’s stock, valued at approximately $521,783.08. The trade was a 27.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Geoffrey Clapp sold 1,530 shares of Progyny stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $25.58, for a total value of $39,137.40. Following the transaction, the insider directly owned 59,117 shares of the company’s stock, valued at approximately $1,512,212.86. This represents a 2.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 36,916 shares of company stock valued at $939,875 in the last 90 days. Insiders own 9.90% of the company’s stock.

Progyny Price Performance

PGNY opened at $26.91 on Tuesday. The business has a 50 day simple moving average of $21.67 and a 200-day simple moving average of $22.28. The stock has a market capitalization of $2.11 billion, a P/E ratio of 34.95, a P/E/G ratio of 2.35 and a beta of 1.03. Progyny, Inc. has a 12 month low of $16.10 and a 12 month high of $28.75.

Progyny (NASDAQ:PGNY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 13.34% and a net margin of 5.23%.Progyny’s revenue was down 26.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 earnings per share. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. Research analysts anticipate that Progyny, Inc. will post 1.07 EPS for the current year.

Progyny declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 26th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 10.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.