Riverbridge Partners LLC Sells 65,083 Shares of The Pennant Group, Inc. $PNTG

Riverbridge Partners LLC cut its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 8.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 742,054 shares of the company’s stock after selling 65,083 shares during the quarter. Riverbridge Partners LLC’s holdings in The Pennant Group were worth $18,715,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in The Pennant Group by 161.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,987 shares of the company’s stock worth $119,000 after acquiring an additional 2,463 shares during the period. State of Wyoming lifted its position in shares of The Pennant Group by 41.3% in the first quarter. State of Wyoming now owns 6,170 shares of the company’s stock valued at $155,000 after acquiring an additional 1,803 shares in the last quarter. ProShare Advisors LLC bought a new position in The Pennant Group in the 2nd quarter worth approximately $207,000. Belpointe Asset Management LLC purchased a new stake in The Pennant Group during the 2nd quarter valued at approximately $211,000. Finally, Police & Firemen s Retirement System of New Jersey raised its position in shares of The Pennant Group by 13.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 7,922 shares of the company’s stock valued at $236,000 after buying an additional 953 shares during the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of The Pennant Group from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Stephens reiterated an “overweight” rating and issued a $40.00 price target on shares of The Pennant Group in a research note on Thursday, October 9th. Royal Bank Of Canada restated an “outperform” rating on shares of The Pennant Group in a research report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Pennant Group in a report on Monday, December 15th. Finally, Wells Fargo & Company raised The Pennant Group from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $29.00 to $31.00 in a research note on Tuesday, November 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $34.80.

The Pennant Group Stock Performance

Shares of NASDAQ:PNTG opened at $29.34 on Monday. The firm has a fifty day simple moving average of $26.50 and a two-hundred day simple moving average of $25.79. The Pennant Group, Inc. has a 52 week low of $21.18 and a 52 week high of $30.46. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.01 billion, a P/E ratio of 39.12, a PEG ratio of 2.36 and a beta of 1.31.

The Pennant Group (NASDAQ:PNTG) last announced its earnings results on Wednesday, November 5th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. The firm had revenue of $229.04 million for the quarter, compared to analysts’ expectations of $221.96 million. The Pennant Group had a net margin of 3.15% and a return on equity of 9.37%. The Pennant Group has set its FY 2025 guidance at 1.140-1.180 EPS. On average, analysts expect that The Pennant Group, Inc. will post 0.75 earnings per share for the current fiscal year.

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.