Vanguard Group Inc. Increases Position in The Pennant Group, Inc. $PNTG

Vanguard Group Inc. increased its stake in The Pennant Group, Inc. (NASDAQ:PNTG) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,049,968 shares of the company’s stock after purchasing an additional 82,071 shares during the quarter. Vanguard Group Inc. owned 5.93% of The Pennant Group worth $57,707,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Quarry LP purchased a new position in shares of The Pennant Group in the 3rd quarter valued at about $37,000. State of Alaska Department of Revenue purchased a new position in shares of The Pennant Group in the 3rd quarter valued at about $54,000. CIBC Private Wealth Group LLC increased its holdings in shares of The Pennant Group by 651.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company’s stock valued at $86,000 after purchasing an additional 2,946 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of The Pennant Group by 161.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,987 shares of the company’s stock valued at $119,000 after purchasing an additional 2,463 shares in the last quarter. Finally, AlphaQuest LLC purchased a new position in shares of The Pennant Group in the 3rd quarter valued at about $137,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada increased their price objective on shares of The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Wall Street Zen raised shares of The Pennant Group from a “hold” rating to a “buy” rating in a research note on Saturday. Truist Financial increased their price objective on shares of The Pennant Group from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Weiss Ratings cut shares of The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Finally, Wells Fargo & Company increased their price objective on shares of The Pennant Group from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.00.

The Pennant Group Price Performance

Shares of NASDAQ PNTG opened at $35.55 on Friday. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 41.82, a PEG ratio of 2.52 and a beta of 1.28. The Pennant Group, Inc. has a 52 week low of $21.73 and a 52 week high of $37.54. The company’s 50-day moving average price is $31.92 and its 200 day moving average price is $29.88. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.42.

The Pennant Group (NASDAQ:PNTG) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. The Pennant Group had a net margin of 2.96% and a return on equity of 10.07%. The company had revenue of $285.36 million for the quarter, compared to analysts’ expectations of $280.75 million. As a group, research analysts forecast that The Pennant Group, Inc. will post 1.13 earnings per share for the current fiscal year.

About The Pennant Group

The Pennant Group (NASDAQ: PNTG) is a publicly traded holding company that provides specialized services to the asset management industry. Through its operating subsidiaries, the company delivers outsourced fund administration, securities lending, prime brokerage, and capital markets solutions designed to support hedge funds, private equity firms, mutual funds and other institutional investors. By leveraging a combination of technology platforms and industry expertise, The Pennant Group helps clients streamline middle- and back-office processes, enhance operational efficiency and manage regulatory requirements.

Key service offerings include fund accounting and reporting, trade settlement and reconciliation, risk monitoring, securities lending programs and execution support across a range of asset classes.