Peregrine Capital Management LLC Trims Stake in The Pennant Group, Inc. $PNTG

Peregrine Capital Management LLC trimmed its stake in The Pennant Group, Inc. (NASDAQ:PNTG) by 3.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,209 shares of the company’s stock after selling 7,273 shares during the period. Peregrine Capital Management LLC owned 0.63% of The Pennant Group worth $6,484,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of PNTG. Rice Hall James & Associates LLC grew its position in shares of The Pennant Group by 43.8% during the first quarter. Rice Hall James & Associates LLC now owns 240,649 shares of the company’s stock worth $6,052,000 after purchasing an additional 73,300 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of The Pennant Group during the first quarter valued at about $428,000. Van Berkom & Associates Inc. grew its position in shares of The Pennant Group by 29.6% during the first quarter. Van Berkom & Associates Inc. now owns 2,849,562 shares of the company’s stock valued at $71,666,000 after purchasing an additional 651,346 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of The Pennant Group by 25.2% during the first quarter. Mackenzie Financial Corp now owns 22,446 shares of the company’s stock valued at $565,000 after purchasing an additional 4,522 shares in the last quarter. Finally, Premier Fund Managers Ltd purchased a new position in shares of The Pennant Group during the first quarter valued at about $535,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PNTG has been the subject of a number of research analyst reports. Wall Street Zen lowered The Pennant Group from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Wells Fargo & Company cut their price objective on The Pennant Group from $31.00 to $29.00 and set an “equal weight” rating for the company in a research report on Thursday, August 14th. Jefferies Financial Group started coverage on The Pennant Group in a research report on Friday. They set a “buy” rating and a $30.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of The Pennant Group in a research report on Tuesday, October 14th. Finally, Truist Financial dropped their price target on The Pennant Group from $32.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, July 16th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, The Pennant Group currently has an average rating of “Moderate Buy” and a consensus price target of $32.80.

The Pennant Group Stock Up 0.1%

Shares of NASDAQ:PNTG opened at $25.26 on Tuesday. The Pennant Group, Inc. has a 1 year low of $21.18 and a 1 year high of $34.39. The business has a 50 day simple moving average of $24.71 and a two-hundred day simple moving average of $25.86. The firm has a market capitalization of $872.99 million, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.13 and a beta of 1.35. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.21 and a quick ratio of 1.21.

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.