Clear Harbor Asset Management LLC Buys Shares of 57,335 Progyny, Inc. (NASDAQ:PGNY)

Clear Harbor Asset Management LLC bought a new position in Progyny, Inc. (NASDAQ:PGNY) in the fourth quarter, Holdings Channel reports. The institutional investor bought 57,335 shares of the company’s stock, valued at approximately $989,000.

Other institutional investors have also modified their holdings of the company. State Street Corp increased its position in Progyny by 4.5% during the third quarter. State Street Corp now owns 3,113,654 shares of the company’s stock worth $52,185,000 after purchasing an additional 134,861 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Progyny by 1,576.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,565,118 shares of the company’s stock worth $42,991,000 after buying an additional 2,412,068 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Progyny by 12,579.4% during the 3rd quarter. Pacer Advisors Inc. now owns 2,492,642 shares of the company’s stock valued at $41,777,000 after buying an additional 2,472,983 shares during the period. Invenomic Capital Management LP acquired a new position in Progyny in the third quarter valued at approximately $29,509,000. Finally, Farallon Capital Management LLC grew its position in Progyny by 120.8% in the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after acquiring an additional 715,900 shares during the period. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Insider Buying and Selling at Progyny

In related news, CEO Peter Anevski purchased 209,500 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $14.48 per share, for a total transaction of $3,033,560.00. Following the completion of the purchase, the chief executive officer now directly owns 441,463 shares of the company’s stock, valued at approximately $6,392,384.24. This trade represents a 90.32 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman David J. Schlanger acquired 150,000 shares of Progyny stock in a transaction dated Thursday, December 26th. The shares were bought at an average price of $14.68 per share, with a total value of $2,202,000.00. Following the transaction, the chairman now directly owns 228,269 shares in the company, valued at approximately $3,350,988.92. The trade was a 191.65 % increase in their position. The disclosure for this purchase can be found here. Insiders own 12.30% of the company’s stock.

Progyny Trading Up 2.3 %

NASDAQ:PGNY opened at $21.48 on Wednesday. Progyny, Inc. has a 12-month low of $13.39 and a 12-month high of $42.08. The firm has a market cap of $1.83 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 2.10 and a beta of 1.31. The stock has a fifty day moving average price of $16.25 and a 200 day moving average price of $19.42.

Progyny (NASDAQ:PGNY) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The company had revenue of $286.63 million for the quarter, compared to analyst estimates of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. Equities analysts forecast that Progyny, Inc. will post 0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Canaccord Genuity Group reduced their target price on Progyny from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Truist Financial restated a “hold” rating and issued a $19.00 price objective (down from $26.00) on shares of Progyny in a report on Wednesday, November 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $17.00 target price (down previously from $22.00) on shares of Progyny in a research note on Monday, December 2nd. Barclays reduced their price target on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Finally, Bank of America lowered their price objective on shares of Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.00.

Progyny Company Profile

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.