Rhumbline Advisers Raises Stock Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Rhumbline Advisers lifted its holdings in The Pennant Group, Inc. (NASDAQ:PNTG) by 8.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,239 shares of the company’s stock after purchasing an additional 3,611 shares during the period. Rhumbline Advisers’ holdings in The Pennant Group were worth $1,026,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. 8 Knots Management LLC boosted its position in The Pennant Group by 34.0% in the 1st quarter. 8 Knots Management LLC now owns 2,462,553 shares of the company’s stock valued at $48,340,000 after buying an additional 625,061 shares during the period. Vanguard Group Inc. raised its stake in shares of The Pennant Group by 4.3% in the first quarter. Vanguard Group Inc. now owns 1,859,679 shares of the company’s stock valued at $36,505,000 after acquiring an additional 77,052 shares in the last quarter. Wasatch Advisors LP boosted its holdings in The Pennant Group by 3.3% in the fourth quarter. Wasatch Advisors LP now owns 1,465,754 shares of the company’s stock valued at $20,403,000 after purchasing an additional 46,484 shares during the period. Hillsdale Investment Management Inc. boosted its holdings in The Pennant Group by 8.2% in the first quarter. Hillsdale Investment Management Inc. now owns 352,292 shares of the company’s stock valued at $6,915,000 after purchasing an additional 26,670 shares during the period. Finally, Boone Capital Management LLC acquired a new position in The Pennant Group during the 4th quarter worth $4,589,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

The Pennant Group Trading Up 0.2 %

Shares of The Pennant Group stock opened at $35.68 on Monday. 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 company has a fifty day simple moving average of $31.37 and a 200-day simple moving average of $25.12. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 66.07, a PEG ratio of 3.58 and a beta of 2.01. The Pennant Group, Inc. has a 12-month low of $10.31 and a 12-month high of $36.33.

The Pennant Group (NASDAQ:PNTG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $168.75 million during the quarter, compared to the consensus estimate 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 analysts forecast that The Pennant Group, Inc. will post 0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.