Bailard Inc. Invests $253,000 in The Pennant Group, Inc. (NASDAQ:PNTG)

Bailard Inc. purchased a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,900 shares of the company’s stock, valued at approximately $253,000.

Several other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp raised its holdings in shares of The Pennant Group by 10.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 130,195 shares of the company’s stock worth $3,019,000 after acquiring an additional 12,141 shares during the period. Boston Partners raised its holdings in shares of The Pennant Group by 15.2% during the 1st quarter. Boston Partners now owns 115,682 shares of the company’s stock worth $2,273,000 after acquiring an additional 15,291 shares during the period. 8 Knots Management LLC raised its holdings in shares of The Pennant Group by 34.0% during the 1st quarter. 8 Knots Management LLC now owns 2,462,553 shares of the company’s stock worth $48,340,000 after acquiring an additional 625,061 shares during the period. Grandeur Peak Global Advisors LLC acquired a new stake in shares of The Pennant Group during the 1st quarter worth about $2,225,000. Finally, Covestor Ltd increased its position in shares of The Pennant Group by 3,805.6% during the 1st quarter. Covestor Ltd now owns 1,406 shares of the company’s stock worth $28,000 after purchasing an additional 1,370 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Analyst Ratings Changes

PNTG has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on The Pennant Group from $28.00 to $34.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Oppenheimer raised their price objective on The Pennant Group from $28.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Royal Bank of Canada raised their price objective on The Pennant Group from $21.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Finally, Stephens raised their price objective on The Pennant Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th.

The Pennant Group Stock Performance

NASDAQ PNTG opened at $35.24 on Tuesday. The company has a market cap of $1.06 billion, a P/E ratio of 65.26, a P/E/G ratio of 3.34 and a beta of 2.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a 50-day moving average of $27.48 and a two-hundred day moving average of $22.87. The Pennant Group, Inc. has a 1-year low of $10.31 and a 1-year high of $35.57.

The Pennant Group (NASDAQ:PNTG) last released its earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $168.75 million during the quarter, compared to the consensus estimate of $156.71 million. The Pennant Group had a return on equity of 13.74% and a net margin of 3.16%. As a group, analysts anticipate that The Pennant Group, Inc. will post 0.73 EPS for the current year.

The Pennant Group Profile

The Pennant Group, Inc provides healthcare services in the United States. It operates in two segments, Home Health and Hospice Services, and Senior Living Services. The company offers home health services, including clinical services, such as nursing, speech, occupational and physical therapy, medical social work, and home health aide services; and hospice services comprising clinical care, education, and counseling services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.