Progyny Inc (PGNY US, +1, 27-Dec-24)
David Schlanger (Exec Chair since 2022, joined 2017) purchased $2 million worth of stock on December 26th at $14.68, nearly tripling his holding.
A few days earlier, on December 23rd, Peter Anevski (CEO since 2022, joined in 2017) purchased $3 million worth of stock at $14.48, nearly doubling his holding. For both, these are their first purchases in the stock and a reversal from a long series of sales. It’s interesting to see the change of sentiment from 2 key officers.
The stock declined sharply in September after losing a large client; this is the first insider activity since that decline. Schlanger and Anevski were officers in WebMD (acq. in 2017 by KKR) before joining Progyny but never bought shares there despite long tenures. While likely coordinated, these are confident purchases in this depressed stock.
We are ranking stock +1 (strongly positive).
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