Eversept Partners LP Increases Holdings in The Pennant Group, Inc. $PNTG

Eversept Partners LP grew its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 6.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,178 shares of the company’s stock after buying an additional 18,218 shares during the quarter. Eversept Partners LP’s holdings in The Pennant Group were worth $9,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wasatch Advisors LP grew its holdings in shares of The Pennant Group by 143.2% in the first quarter. Wasatch Advisors LP now owns 1,418,687 shares of the company’s stock worth $43,242,000 after acquiring an additional 835,227 shares during the period. Ameriprise Financial Inc. bought a new position in The Pennant Group in the second quarter valued at about $14,356,000. Provident Investment Management Inc. lifted its holdings in The Pennant Group by 161.0% in the fourth quarter. Provident Investment Management Inc. now owns 691,862 shares of the company’s stock valued at $19,476,000 after acquiring an additional 426,797 shares during the period. Loomis Sayles & Co. L P purchased a new position in The Pennant Group in the fourth quarter worth about $11,023,000. Finally, Rhenman & Partners Asset Management AB bought a new stake in shares of The Pennant Group during the 4th quarter valued at about $10,059,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PNTG shares. Royal Bank Of Canada increased their price objective on shares of The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Truist Financial increased their price target on shares of The Pennant Group from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Wall Street Zen raised shares of The Pennant Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Wells Fargo & Company boosted their price objective on shares of The Pennant Group from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Finally, Weiss Ratings lowered The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 21st. 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 Pennant Group has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

The Pennant Group Trading Up 0.4%

Shares of NASDAQ:PNTG opened at $41.34 on Tuesday. The stock has a 50 day moving average of $36.10 and a 200 day moving average of $33.00. The company has a market cap of $1.44 billion, a PE ratio of 48.64, a price-to-earnings-growth ratio of 2.77 and a beta of 1.25. The Pennant Group, Inc. has a 12-month low of $21.73 and a 12-month high of $42.55. 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 earnings results on Wednesday, May 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates 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, equities research analysts expect that The Pennant Group, Inc. will post 1.14 EPS for the current year.

The Pennant Group Company Profile

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.