The Pennant Group, Inc. $PNTG Stake Boosted by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC raised its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 14.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 257,510 shares of the company’s stock after buying an additional 31,932 shares during the quarter. Rice Hall James & Associates LLC’s holdings in The Pennant Group were worth $7,249,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of The Pennant Group by 288.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 130,721 shares of the company’s stock valued at $3,297,000 after acquiring an additional 97,061 shares in the last quarter. Provident Investment Management Inc. acquired a new stake in The Pennant Group during the 3rd quarter valued at $6,685,000. Quantbot Technologies LP raised its stake in The Pennant Group by 104.1% during the 3rd quarter. Quantbot Technologies LP now owns 38,435 shares of the company’s stock valued at $969,000 after purchasing an additional 19,606 shares during the period. Tudor Investment Corp ET AL lifted its holdings in shares of The Pennant Group by 317.4% in the third quarter. Tudor Investment Corp ET AL now owns 207,220 shares of the company’s stock valued at $5,226,000 after purchasing an additional 157,574 shares in the last quarter. Finally, Algert Global LLC boosted its position in shares of The Pennant Group by 392.5% in the third quarter. Algert Global LLC now owns 421,702 shares of the company’s stock worth $10,635,000 after buying an additional 336,072 shares during the period. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PNTG shares. Wells Fargo & Company upped their price target 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. Royal Bank Of Canada lifted their target price on The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Wall Street Zen downgraded The Pennant Group from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Truist Financial raised their price target on shares of The Pennant Group from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, The Pennant Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

The Pennant Group Stock Up 0.6%

PNTG opened at $33.04 on Tuesday. The company has a market capitalization of $1.15 billion, a PE ratio of 38.87, a price-to-earnings-growth ratio of 2.21 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 1.19. The Pennant Group, Inc. has a fifty-two week low of $21.73 and a fifty-two week high of $37.54. The business has a 50-day moving average of $32.34 and a 200-day moving average of $31.04.

The Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The business 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%. Equities research analysts forecast 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.