The Pennant Group, Inc. $PNTG Stake Reduced by Van Berkom & Associates Inc.

Van Berkom & Associates Inc. lowered its holdings in The Pennant Group, Inc. (NASDAQ:PNTG) by 8.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,165,636 shares of the company’s stock after selling 203,633 shares during the period. The Pennant Group comprises about 3.0% of Van Berkom & Associates Inc.’s portfolio, making the stock its 6th largest holding. Van Berkom & Associates Inc. owned 0.06% of The Pennant Group worth $84,460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNTG. Nykredit A S bought a new stake in The Pennant Group during the 2nd quarter worth about $29,000. Sterling Capital Management LLC boosted its stake in shares of The Pennant Group by 846.7% during the 3rd quarter. Sterling Capital Management LLC now owns 1,136 shares of the company’s stock worth $44,000 after buying an additional 1,016 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of The Pennant Group by 1,186.8% in the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the company’s stock valued at $42,000 after acquiring an additional 1,258 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of The Pennant Group by 34.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,568 shares of the company’s stock valued at $58,000 after acquiring an additional 403 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of The Pennant Group by 45.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,413 shares of the company’s stock valued at $133,000 after acquiring an additional 1,065 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.

The Pennant Group Stock Performance

Shares of PNTG opened at $36.26 on Tuesday. The firm has a 50-day moving average of $40.14 and a 200-day moving average of $35.73. The Pennant Group, Inc. has a one year low of $24.21 and a one year high of $44.24. The company has a market cap of $1.27 billion, a PE ratio of 36.63, a price-to-earnings-growth ratio of 2.87 and a beta of 1.33. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.20 and a quick ratio of 1.20.

The Pennant Group (NASDAQ:PNTG) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $302.25 million for the quarter, compared to analyst estimates of $299.34 million. The Pennant Group had a return on equity of 10.43% and a net margin of 3.05%. As a group, equities analysts forecast that The Pennant Group, Inc. will post 1.18 earnings per share for the current year.

Wall Street Analyst Weigh In

PNTG has been the topic of a number of recent research reports. Oppenheimer lifted their target price on The Pennant Group from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Thursday, November 5th. Weiss Ratings raised The Pennant Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 19th. Wall Street Zen downgraded The Pennant Group from a “buy” rating to a “hold” rating in a research note on Saturday. Truist Financial raised their price target on The Pennant Group from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Wells Fargo & Company boosted their price target on The Pennant Group from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

The Pennant Group Profile

The Pennant Group, Inc provides healthcare and senior living services through independently operated subsidiaries. Its services include home health and hospice care for people in their homes, as well as senior living options such as assisted living and memory care.

Based in Eagle, Idaho, the company operates across multiple U.S. states, with a presence concentrated in the western part of the country. Its local operating teams provide care and support to patients, residents and their families.

Pennant became an independent publicly traded company in 2019 after separating from The Ensign Group.