Wasatch Advisors LP Purchases 835,227 Shares of The Pennant Group, Inc. $PNTG

Wasatch Advisors LP grew its position in The Pennant Group, Inc. (NASDAQ:PNTG) by 143.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,418,687 shares of the company’s stock after purchasing an additional 835,227 shares during the period. Wasatch Advisors LP’s holdings in The Pennant Group were worth $43,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings 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 worth $687,000 after purchasing an additional 17,347 shares during the last quarter. AQR Capital Management LLC grew its holdings in The Pennant Group by 32.6% in the 1st quarter. AQR Capital Management LLC now owns 10,255 shares of the company’s stock valued at $258,000 after buying an additional 2,524 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in The Pennant Group by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company’s stock valued at $488,000 after buying an additional 857 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position 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 period. Finally, Jane Street Group LLC bought a new position in The Pennant Group during the 1st quarter worth $297,000. Institutional investors own 85.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings cut shares of The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Truist Financial raised 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 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. Wells Fargo & Company boosted their target price on shares of The Pennant Group from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded The Pennant Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Pennant Group presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

The Pennant Group Trading Up 0.2%

Shares of PNTG stock opened at $35.91 on Friday. The Pennant Group, Inc. has a twelve month low of $21.73 and a twelve month high of $37.54. The stock’s fifty day simple moving average is $33.01 and its 200 day simple moving average is $31.39. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $1.25 billion, a P/E ratio of 42.25, a P/E/G ratio of 2.41 and a beta of 1.29.

The Pennant Group (NASDAQ:PNTG) last posted its earnings results on Wednesday, May 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%.The firm had revenue of $285.36 million during the quarter, compared to the consensus estimate of $280.75 million. As a group, sell-side analysts predict that The Pennant Group, Inc. will post 1.14 EPS for the current fiscal 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.