Clear Harbor Asset Management LLC Invests $989,000 in Progyny, Inc. (NASDAQ:PGNY)

Clear Harbor Asset Management LLC bought a new stake in shares of Progyny, Inc. (NASDAQ:PGNY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 57,335 shares of the company’s stock, valued at approximately $989,000. Clear Harbor Asset Management LLC owned about 0.07% of Progyny as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PGNY. Ballentine Partners LLC purchased a new stake in shares of Progyny during the fourth quarter worth about $187,000. Leibman Financial Services Inc. grew its position in Progyny by 100.7% during the 4th quarter. Leibman Financial Services Inc. now owns 63,509 shares of the company’s stock worth $1,096,000 after purchasing an additional 31,872 shares during the last quarter. Nordea Investment Management AB increased its stake in Progyny by 5.8% during the 4th quarter. Nordea Investment Management AB now owns 185,042 shares of the company’s stock valued at $3,175,000 after purchasing an additional 10,203 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in Progyny by 89.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 13,250 shares of the company’s stock valued at $229,000 after purchasing an additional 6,270 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Progyny by 341.4% in the fourth quarter. GAMMA Investing LLC now owns 1,611 shares of the company’s stock worth $28,000 after buying an additional 1,246 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Progyny Trading Up 2.3 %

Shares of PGNY stock 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 business’s 50 day moving average is $16.25 and its two-hundred day moving average is $19.42. The company has a market capitalization of $1.83 billion, a P/E ratio of 37.04, a P/E/G ratio of 2.10 and a beta of 1.31.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26). The business had revenue of $286.63 million for the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a net margin of 5.03% and a return on equity of 11.36%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.16 EPS. On average, research analysts predict that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Transactions at Progyny

In other Progyny news, Chairman David J. Schlanger bought 150,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was acquired at an average price of $14.68 per share, with a total value of $2,202,000.00. Following the completion of the acquisition, the chairman now directly owns 228,269 shares of the company’s stock, valued at $3,350,988.92. This represents a 191.65 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Anevski purchased 209,500 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was acquired 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 owns 441,463 shares of the company’s stock, valued at approximately $6,392,384.24. This represents a 90.32 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 12.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PGNY shares. Truist Financial reissued a “hold” rating and issued a $19.00 target price (down from $26.00) on shares of Progyny in a research report on Wednesday, November 13th. Bank of America cut their price objective on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Canaccord Genuity Group decreased their target price on Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price target on shares of Progyny in a report on Tuesday, October 1st. Finally, Barclays decreased their price objective on shares of Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.00.

Progyny 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.