The Manufacturers Life Insurance Company Grows Stock Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

The Manufacturers Life Insurance Company grew its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 4.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,227 shares of the company’s stock after buying an additional 471 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in The Pennant Group were worth $260,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. 8 Knots Management LLC grew its stake in The Pennant Group by 34.0% during the first quarter. 8 Knots Management LLC now owns 2,462,553 shares of the company’s stock worth $48,340,000 after buying an additional 625,061 shares during the period. Vanguard Group Inc. grew its stake in The Pennant Group by 4.3% during the first quarter. Vanguard Group Inc. now owns 1,859,679 shares of the company’s stock worth $36,505,000 after buying an additional 77,052 shares during the period. First Eagle Investment Management LLC grew its stake in The Pennant Group by 2.1% during the second quarter. First Eagle Investment Management LLC now owns 391,748 shares of the company’s stock worth $9,085,000 after buying an additional 8,000 shares during the period. Hillsdale Investment Management Inc. grew its stake in The Pennant Group by 8.2% during the first quarter. Hillsdale Investment Management Inc. now owns 352,292 shares of the company’s stock worth $6,915,000 after buying an additional 26,670 shares during the period. Finally, Renaissance Technologies LLC grew its stake in The Pennant Group by 17.1% during the second quarter. Renaissance Technologies LLC now owns 267,300 shares of the company’s stock worth $6,199,000 after buying an additional 39,000 shares during the period. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on PNTG. Oppenheimer boosted their price objective on shares of The Pennant Group from $28.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Stephens reiterated an “overweight” rating and issued a $40.00 price objective on shares of The Pennant Group in a report on Wednesday, October 9th. Finally, Truist Financial upped their price objective on shares of The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, October 7th.

The Pennant Group Stock Down 0.9 %

Shares of NASDAQ:PNTG opened at $34.85 on Friday. The firm has a market cap of $1.06 billion, a PE ratio of 55.32, a price-to-earnings-growth ratio of 3.57 and a beta of 2.01. The company has a fifty day simple moving average of $33.67 and a 200 day simple moving average of $27.13. 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, Inc. has a 12-month low of $10.46 and a 12-month high of $37.13.

The Pennant Group (NASDAQ:PNTG) last issued 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 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, equities research analysts anticipate that The Pennant Group, Inc. will post 0.75 EPS for the current fiscal year.

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.