Rhenman & Partners Asset Management AB Buys Shares of 357,346 The Pennant Group, Inc. $PNTG

Rhenman & Partners Asset Management AB bought a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 357,346 shares of the company’s stock, valued at approximately $10,059,000. Rhenman & Partners Asset Management AB owned approximately 1.03% of The Pennant Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PNTG. Royal Bank of Canada raised its position in The Pennant Group by 174.5% during the 1st quarter. Royal Bank of Canada now owns 27,290 shares of the company’s stock valued at $687,000 after purchasing an additional 17,347 shares in the last quarter. AQR Capital Management LLC grew its stake in The Pennant Group by 32.6% during the 1st quarter. AQR Capital Management LLC now owns 10,255 shares of the company’s stock worth $258,000 after buying an additional 2,524 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in The Pennant Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company’s stock worth $488,000 after buying an additional 857 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in The Pennant Group by 4.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 81,392 shares of the company’s stock worth $2,047,000 after buying an additional 3,507 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in The Pennant Group during the 1st quarter worth about $297,000. 85.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Truist Financial lifted their price target on The Pennant Group from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Royal Bank Of Canada increased their target price on The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Wall Street Zen cut The Pennant Group from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings raised The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Finally, Wells Fargo & Company increased their price target on The Pennant Group from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.00.

The Pennant Group Stock Up 0.2%

Shares of NASDAQ PNTG opened at $32.85 on Friday. The stock has a market cap of $1.14 billion, a P/E ratio of 38.65, a PEG ratio of 2.20 and a beta of 1.29. 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, Inc. has a 12-month low of $21.73 and a 12-month high of $37.54. The business’s fifty day simple moving average is $32.27 and its 200-day simple moving average is $30.97.

The Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $285.36 million for the quarter, compared to analysts’ expectations of $280.75 million. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%. As a group, equities analysts predict that The Pennant Group, Inc. will post 1.14 EPS 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.