Public Employees Retirement System of Ohio Takes Position in The Pennant Group, Inc. $PNTG

Public Employees Retirement System of Ohio purchased a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 47,410 shares of the company’s stock, valued at approximately $1,445,000.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of The Pennant Group by 288.4% in the third quarter. JPMorgan Chase & Co. now owns 130,721 shares of the company’s stock valued at $3,297,000 after purchasing an additional 97,061 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in The Pennant Group by 317.4% during the third quarter. Tudor Investment Corp ET AL now owns 207,220 shares of the company’s stock worth $5,226,000 after purchasing an additional 157,574 shares during the last quarter. Vanguard Group Inc. boosted its holdings in The Pennant Group by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 2,049,968 shares of the company’s stock worth $57,707,000 after purchasing an additional 82,071 shares during the last quarter. Rice Hall James & Associates LLC grew its position in The Pennant Group by 14.2% in the fourth quarter. Rice Hall James & Associates LLC now owns 257,510 shares of the company’s stock valued at $7,249,000 after purchasing an additional 31,932 shares in the last quarter. Finally, Provident Investment Management Inc. increased its stake in The Pennant Group by 161.0% in the 4th quarter. Provident Investment Management Inc. now owns 691,862 shares of the company’s stock valued at $19,476,000 after buying an additional 426,797 shares during the last quarter. 85.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on PNTG shares. Wall Street Zen raised The Pennant Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Weiss Ratings downgraded The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada boosted their price target on The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Wells Fargo & Company increased their price objective on The Pennant Group from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Finally, Truist Financial upped their price target on shares of The Pennant Group from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $41.00.

The Pennant Group Stock Performance

Shares of NASDAQ PNTG opened at $40.32 on Monday. 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 firm has a market cap of $1.40 billion, a price-to-earnings ratio of 47.44, a P/E/G ratio of 2.71 and a beta of 1.25. The stock’s fifty day moving average price is $36.62 and its two-hundred day moving average price is $33.34. The Pennant Group, Inc. has a one year low of $21.73 and a one year high of $42.69.

The Pennant Group (NASDAQ:PNTG) last released 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 Pennant Group had a net margin of 2.96% and a return on equity of 10.07%. The business had revenue of $285.36 million for the quarter, compared to the consensus estimate of $280.75 million. On average, equities analysts forecast that The Pennant Group, Inc. will post 1.14 EPS for the current 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.