Van Berkom & Associates Inc. lessened its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG – Free Report) by 14.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,669,434 shares of the company’s stock after selling 445,879 shares during the quarter. The Pennant Group makes up approximately 2.7% of Van Berkom & Associates Inc.’s portfolio, making the stock its 11th largest holding. Van Berkom & Associates Inc. owned 0.08% of The Pennant Group worth $81,364,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in PNTG. Royal Bank of Canada increased its stake in shares of The Pennant Group by 174.5% during the 1st quarter. Royal Bank of Canada now owns 27,290 shares of the company’s stock worth $687,000 after purchasing an additional 17,347 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of The Pennant Group by 32.6% in the 1st quarter. AQR Capital Management LLC now owns 10,255 shares of the company’s stock valued at $258,000 after purchasing an additional 2,524 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in The Pennant Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company’s stock worth $488,000 after purchasing an additional 857 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in The Pennant Group by 4.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 81,392 shares of the company’s stock worth $2,047,000 after purchasing an additional 3,507 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in The Pennant Group during the first quarter worth $297,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.
The Pennant Group Stock Performance
NASDAQ:PNTG opened at $41.95 on Monday. The firm has a market capitalization of $1.46 billion, a PE ratio of 49.35, a PEG ratio of 2.82 and a beta of 1.25. The Pennant Group, Inc. has a 1 year low of $21.73 and a 1 year high of $42.47. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.42. The firm’s fifty day simple moving average is $35.45 and its 200 day simple moving average is $32.46.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on PNTG shares. Wall Street Zen upgraded The Pennant Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Royal Bank Of Canada upped their price target on The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Truist Financial increased their price objective on The Pennant Group from $42.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings raised The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Finally, Wells Fargo & Company raised their price objective on The Pennant Group from $41.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.
Get Our Latest Research Report on The Pennant Group
About The Pennant Group
The Pennant Group (NASDAQ: PNTG) is a publicly traded holding company that provides specialized services to the asset management industry. Through its operating subsidiaries, the company delivers outsourced fund administration, securities lending, prime brokerage, and capital markets solutions designed to support hedge funds, private equity firms, mutual funds and other institutional investors. By leveraging a combination of technology platforms and industry expertise, The Pennant Group helps clients streamline middle- and back-office processes, enhance operational efficiency and manage regulatory requirements.
Key service offerings include fund accounting and reporting, trade settlement and reconciliation, risk monitoring, securities lending programs and execution support across a range of asset classes.
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