Renaissance Technologies LLC Purchases 39,000 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Renaissance Technologies LLC raised its position in The Pennant Group, Inc. (NASDAQ:PNTG) by 17.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 267,300 shares of the company’s stock after purchasing an additional 39,000 shares during the quarter. Renaissance Technologies LLC’s holdings in The Pennant Group were worth $6,199,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of The Pennant Group by 9.9% in the second quarter. Principal Financial Group Inc. now owns 11,029 shares of the company’s stock valued at $256,000 after acquiring an additional 991 shares during the last quarter. Covestor Ltd raised its position in The Pennant Group by 3,805.6% in the 1st quarter. Covestor Ltd now owns 1,406 shares of the company’s stock valued at $28,000 after purchasing an additional 1,370 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in The Pennant Group by 17.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 17,486 shares of the company’s stock valued at $406,000 after purchasing an additional 2,549 shares during the last quarter. Rhumbline Advisers boosted its stake in The Pennant Group by 8.9% in the second quarter. Rhumbline Advisers now owns 44,239 shares of the company’s stock worth $1,026,000 after purchasing an additional 3,611 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of The Pennant Group by 16.1% during the first quarter. Los Angeles Capital Management LLC now owns 68,421 shares of the company’s stock worth $1,343,000 after purchasing an additional 9,480 shares during the last quarter. 85.88% of the stock is owned by institutional investors.

The Pennant Group Trading Down 2.7 %

Shares of PNTG opened at $34.68 on Friday. The stock’s fifty day simple moving average is $31.93 and its 200-day simple moving average is $25.44. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $1.05 billion, a PE ratio of 64.22, a price-to-earnings-growth ratio of 3.69 and a beta of 2.01. The Pennant Group, Inc. has a 12-month low of $10.31 and a 12-month high of $37.13.

The Pennant Group (NASDAQ:PNTG) last released its earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The Pennant Group had a net margin of 3.16% and a return on equity of 13.74%. The company had revenue of $168.75 million for the quarter, compared to the consensus estimate of $156.71 million. As a group, research analysts predict that The Pennant Group, Inc. will post 0.75 earnings per share for the current year.

Wall Street Analyst Weigh In

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

About The Pennant Group

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.