Wasatch Advisors LP increased its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG – Free Report) by 143.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,418,687 shares of the company’s stock after buying an additional 835,227 shares during the quarter. Wasatch Advisors LP owned 4.06% of The Pennant Group worth $43,242,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNTG. Ameriprise Financial Inc. acquired a new position in The Pennant Group in the second quarter valued at about $14,356,000. Provident Investment Management Inc. raised its position in shares of The Pennant Group by 161.0% during the fourth quarter. Provident Investment Management Inc. now owns 691,862 shares of the company’s stock worth $19,476,000 after purchasing an additional 426,797 shares during the period. Loomis Sayles & Co. L P acquired a new stake in shares of The Pennant Group during the fourth quarter worth about $11,023,000. Rhenman & Partners Asset Management AB bought a new position in shares of The Pennant Group during the 4th quarter valued at about $10,059,000. Finally, Wellington Management Group LLP lifted its holdings in shares of The Pennant Group by 71.1% during the 4th quarter. Wellington Management Group LLP now owns 817,914 shares of the company’s stock valued at $23,024,000 after purchasing an additional 339,870 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts recently issued reports on PNTG shares. Wells Fargo & Company boosted their price objective on The Pennant Group from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings downgraded shares of The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Royal Bank Of Canada lifted their price target on shares of The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Truist Financial upped their price target on shares of The Pennant Group from $36.00 to $42.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of The Pennant Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.
The Pennant Group Trading Up 0.2%
NASDAQ:PNTG opened at $35.91 on Friday. The company has a market cap of $1.25 billion, a P/E ratio of 42.25, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The Pennant Group, Inc. has a twelve month low of $21.73 and a twelve month high of $37.54. The business has a 50 day moving average price of $33.01 and a two-hundred day moving average price of $31.39. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.42.
The Pennant Group (NASDAQ:PNTG – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $285.36 million during the quarter, compared to analysts’ expectations of $280.75 million. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%. As a group, analysts expect that The Pennant Group, Inc. will post 1.14 EPS for the current fiscal year.
The Pennant Group Company 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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