Pacer Advisors Inc. Boosts Holdings in Progyny, Inc. (NASDAQ:PGNY)

Pacer Advisors Inc. grew its position in shares of Progyny, Inc. (NASDAQ:PGNY) by 12,579.4% in the third quarter, Holdings Channel reports. The institutional investor owned 2,492,642 shares of the company’s stock after buying an additional 2,472,983 shares during the period. Pacer Advisors Inc.’s holdings in Progyny were worth $41,777,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC raised its holdings in Progyny by 703.9% during the second quarter. Hsbc Holdings PLC now owns 46,475 shares of the company’s stock worth $1,328,000 after purchasing an additional 40,694 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Progyny by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock worth $21,636,000 after buying an additional 22,012 shares in the last quarter. Kestrel Investment Management Corp acquired a new stake in shares of Progyny in the 2nd quarter valued at approximately $5,005,000. Farallon Capital Management LLC boosted its stake in shares of Progyny by 120.8% in the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock valued at $37,436,000 after buying an additional 715,900 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its holdings in Progyny by 15.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock worth $16,366,000 after acquiring an additional 132,672 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.

Progyny Stock Performance

Shares of NASDAQ PGNY opened at $14.97 on Friday. The firm has a market cap of $1.27 billion, a P/E ratio of 25.81, a price-to-earnings-growth ratio of 1.65 and a beta of 1.44. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $42.08. The firm’s 50 day moving average price is $16.58 and its 200 day moving average price is $22.86.

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). Progyny had a net margin of 5.03% and a return on equity of 11.36%. The business had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. During the same period in the prior year, the firm earned $0.16 EPS. Progyny’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities analysts predict that Progyny, Inc. will post 0.56 EPS for the current year.

Analyst Ratings Changes

PGNY has been the topic of several research analyst reports. Truist Financial restated a “hold” rating and set a $19.00 target price (down from $26.00) on shares of Progyny in a research report on Wednesday, November 13th. Canaccord Genuity Group dropped their target price on shares of Progyny from $18.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. BTIG Research cut Progyny from a “buy” rating to a “neutral” rating in a report on Wednesday, August 7th. Bank of America decreased their target price on Progyny from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, Barclays dropped their price target on Progyny from $30.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $25.42.

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.