PDT Partners LLC acquired a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG – Free Report) in the 2nd quarter, Holdings Channel reports. The firm acquired 64,994 shares of the company’s stock, valued at approximately $2,402,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd increased its holdings in shares of The Pennant Group by 154.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,182 shares of the company’s stock worth $33,000 after buying an additional 717 shares during the last quarter. Quarry LP bought a new position in shares of The Pennant Group in the 3rd quarter valued at about $37,000. Parallel Advisors LLC grew its position in 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 in the last quarter. GAMMA Investing LLC grew its position in The Pennant Group by 34.6% in the second quarter. GAMMA Investing LLC now owns 1,568 shares of the company’s stock worth $58,000 after acquiring an additional 403 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in The Pennant Group by 651.8% during the third quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company’s stock worth $86,000 after acquiring an additional 2,946 shares during the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.
The Pennant Group Stock Performance
The Pennant Group stock opened at $38.28 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.20 and a quick ratio of 1.20. The Pennant Group, Inc. has a 1-year low of $22.25 and a 1-year high of $42.69. The firm has a market capitalization of $1.34 billion, a P/E ratio of 42.53, a price-to-earnings-growth ratio of 2.49 and a beta of 1.26. The company’s 50-day moving average is $38.85 and its 200 day moving average is $34.59.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on PNTG shares. Wall Street Zen upgraded The Pennant Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Weiss Ratings upgraded The Pennant Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Royal Bank Of Canada boosted their target price on The Pennant Group from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, August 20th. Truist Financial increased their price target on The Pennant Group from $42.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Wells Fargo & Company raised their price target on The Pennant Group from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.60.
Read 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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