Globeflex Capital L P bought a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 111,813 shares of the company’s stock, valued at approximately $4,131,000.
Other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its stake in shares of The Pennant Group by 154.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,182 shares of the company’s stock valued at $33,000 after buying an additional 717 shares during the period. Quarry LP acquired a new position in shares of The Pennant Group in the third quarter worth approximately $37,000. Parallel Advisors LLC lifted its stake in shares of The Pennant Group by 1,186.8% in the first quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock worth $42,000 after acquiring an additional 1,258 shares during the period. GAMMA Investing LLC boosted its holdings in The Pennant Group by 34.6% in the second quarter. GAMMA Investing LLC now owns 1,568 shares of the company’s stock valued at $58,000 after acquiring an additional 403 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in The Pennant Group by 651.8% in the third quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company’s stock valued at $86,000 after acquiring an additional 2,946 shares during the last quarter. Institutional investors own 85.88% of the company’s stock.
The Pennant Group Price Performance
Shares of PNTG opened at $38.88 on Monday. The Pennant Group, Inc. has a 52-week low of $22.25 and a 52-week high of $42.69. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.20 and a current ratio of 1.20. The business’s 50 day moving average price is $38.57 and its two-hundred day moving average price is $34.40. The firm has a market cap of $1.36 billion, a PE ratio of 43.20, a price-to-earnings-growth ratio of 2.53 and a beta of 1.26.
Wall Street Analyst Weigh In
A number of analysts have weighed in on PNTG shares. Weiss Ratings raised shares of The Pennant Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday. Royal Bank Of Canada upped their price objective on shares of The Pennant Group from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday. Wells Fargo & Company increased their price objective on shares of The Pennant Group from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Wall Street Zen raised shares of The Pennant Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Finally, Truist Financial upped their price target on shares of The Pennant Group from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.60.
Check Out Our Latest Stock Report on The Pennant Group
The Pennant Group Profile
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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