Kings Path Partners LLC Takes Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Kings Path Partners LLC bought a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) during the third quarter, according to its most recent filing with the SEC. The fund bought 7,755 shares of the company’s stock, valued at approximately $277,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNTG. Quadrature Capital Ltd purchased a new stake in The Pennant Group in the fourth quarter worth $288,000. Los Angeles Capital Management LLC raised its stake in The Pennant Group by 16.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 68,421 shares of the company’s stock valued at $1,343,000 after acquiring an additional 9,480 shares during the period. Principal Financial Group Inc. bought a new stake in The Pennant Group in the 1st quarter valued at about $197,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in The Pennant Group by 101.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,908 shares of the company’s stock valued at $450,000 after purchasing an additional 11,536 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its position in The Pennant Group by 14.9% during the first quarter. ClariVest Asset Management LLC now owns 87,850 shares of the company’s stock worth $1,724,000 after purchasing an additional 11,359 shares during the period. 85.88% of the stock is owned by hedge funds and other institutional investors.

The Pennant Group Stock Performance

NASDAQ PNTG opened at $33.79 on Friday. The company’s 50 day simple moving average is $33.03 and its two-hundred day simple moving average is $26.65. 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 Pennant Group, Inc. has a 1 year low of $10.31 and a 1 year high of $37.13. The stock has a market capitalization of $1.02 billion, a PE ratio of 53.64, a P/E/G ratio of 3.48 and a beta of 2.01.

The Pennant Group (NASDAQ:PNTG) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $168.75 million for 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%. Analysts predict that The Pennant Group, Inc. will post 0.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on PNTG. Stephens reissued an “overweight” rating and issued a $40.00 price target on shares of The Pennant Group in a research report on Wednesday. Oppenheimer increased their target price 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. Finally, Truist Financial raised their price target on The Pennant Group from $34.00 to $38.00 and gave the stock a “hold” rating in a report on Monday, October 7th.

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.