The Pennant Group, Inc. (NASDAQ:PNTG) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. grew its position in The Pennant Group, Inc. (NASDAQ:PNTG) by 600.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,045 shares of the company’s stock after acquiring an additional 46,324 shares during the period. Federated Hermes Inc.’s holdings in The Pennant Group were worth $1,253,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PNTG. 8 Knots Management LLC acquired a new position in The Pennant Group in the 4th quarter worth about $25,578,000. Boone Capital Management LLC acquired a new position in shares of The Pennant Group during the 4th quarter worth approximately $4,589,000. Peregrine Capital Management LLC purchased a new position in shares of The Pennant Group during the 1st quarter valued at approximately $6,403,000. Allianz Asset Management GmbH acquired a new stake in The Pennant Group in the 4th quarter valued at $2,351,000. Finally, Sei Investments Co. increased its holdings in The Pennant Group by 679.7% in the 1st quarter. Sei Investments Co. now owns 136,026 shares of the company’s stock worth $2,670,000 after acquiring an additional 118,581 shares in the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

The Pennant Group Stock Performance

NASDAQ:PNTG opened at $35.68 on Friday. The company has a market cap of $1.08 billion, a P/E ratio of 66.07, a P/E/G ratio of 3.58 and a beta of 2.01. The Pennant Group, Inc. has a twelve month low of $10.31 and a twelve month high of $36.33. The company’s 50-day moving average price is $31.37 and its 200-day moving average price is $25.08. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.48.

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, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $168.75 million for the quarter, compared to analyst estimates of $156.71 million. The Pennant Group had a net margin of 3.16% and a return on equity of 13.74%. On average, sell-side analysts forecast that The Pennant Group, Inc. will post 0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on PNTG shares. Oppenheimer lifted their target price on shares of The Pennant Group from $28.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Truist Financial boosted their price objective on The Pennant Group from $28.00 to $34.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Stephens lifted their price target on The Pennant Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th.

The Pennant Group Company 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.