TD Asset Management Inc. Buys 3,028 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

TD Asset Management Inc. increased its stake in The Pennant Group, Inc. (NASDAQ:PNTGGet Rating) by 7.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,636 shares of the company’s stock after acquiring an additional 3,028 shares during the quarter. TD Asset Management Inc. owned about 0.15% of The Pennant Group worth $533,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PNTG. Wellington Management Group LLP lifted its position in shares of The Pennant Group by 30.0% in the 1st quarter. Wellington Management Group LLP now owns 556,550 shares of the company’s stock worth $10,369,000 after purchasing an additional 128,548 shares during the period. Rice Hall James & Associates LLC acquired a new stake in shares of The Pennant Group during the first quarter worth $1,972,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in The Pennant Group by 79.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 141,000 shares of the company’s stock worth $2,627,000 after buying an additional 62,500 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in The Pennant Group in the first quarter valued at $1,074,000. Finally, Ancora Advisors LLC boosted its position in The Pennant Group by 146.3% during the first quarter. Ancora Advisors LLC now owns 94,700 shares of the company’s stock valued at $4,337,000 after acquiring an additional 56,257 shares during the last quarter. 88.56% of the stock is currently owned by institutional investors.

The Pennant Group Stock Performance

Shares of PNTG opened at $13.28 on Monday. The Pennant Group, Inc. has a one year low of $8.68 and a one year high of $27.22. The company has a market cap of $392.44 million, a PE ratio of -132.79, a P/E/G ratio of 2.47 and a beta of 2.35. The stock has a 50-day moving average of $12.72 and a 200-day moving average of $14.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.00 and a quick ratio of 1.00.

The Pennant Group (NASDAQ:PNTGGet Rating) last released its quarterly earnings data on Monday, August 8th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). The Pennant Group had a negative net margin of 0.57% and a positive return on equity of 4.92%. The firm had revenue of $116.32 million for the quarter, compared to the consensus estimate of $113.14 million. On average, equities research analysts predict that The Pennant Group, Inc. will post 0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PNTG. Truist Financial lifted their price objective on The Pennant Group from $12.00 to $18.00 and gave the stock a “hold” rating in a research report on Wednesday, August 10th. Oppenheimer initiated coverage on The Pennant Group in a report on Thursday, August 25th. They issued an “outperform” rating and a $22.00 target price for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, The Pennant Group has an average rating of “Hold” and an average target price of $19.80.

The Pennant Group Profile

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The Pennant Group, Inc provides healthcare services in the United States. It operates in two segments, Home Health and Hospice Services, and Senior Living Services. The company offers home health services, including clinical services, such as nursing, speech, occupational and physical therapy, medical social work, and home health aide services; and hospice services comprising clinical care, education, and counseling services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.

Further Reading

Institutional Ownership by Quarter for The Pennant Group (NASDAQ:PNTG)

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