Vanguard Group Inc. Increases Stock Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Vanguard Group Inc. grew its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 0.8% during the third quarter, Holdings Channel reports. The firm owned 1,693,196 shares of the company’s stock after acquiring an additional 14,138 shares during the quarter. Vanguard Group Inc. owned about 0.06% of The Pennant Group worth $18,845,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. acquired a new position in shares of The Pennant Group during the first quarter valued at $293,000. Swiss National Bank raised its position in shares of The Pennant Group by 8.1% during the 1st quarter. Swiss National Bank now owns 64,000 shares of the company’s stock worth $1,192,000 after buying an additional 4,800 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of The Pennant Group by 20.0% in the 1st quarter. JPMorgan Chase & Co. now owns 18,482 shares of the company’s stock worth $344,000 after acquiring an additional 3,084 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of The Pennant Group by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 262,481 shares of the company’s stock worth $4,890,000 after buying an additional 13,814 shares during the period. Finally, US Bancorp DE lifted its position in shares of The Pennant Group by 19.5% in the first quarter. US Bancorp DE now owns 12,249 shares of the company’s stock worth $229,000 after purchasing an additional 1,999 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.

The Pennant Group Stock Performance

PNTG stock opened at $20.20 on Monday. The firm has a 50 day moving average of $18.28 and a two-hundred day moving average of $15.02. The Pennant Group, Inc. has a 12 month low of $10.31 and a 12 month high of $20.89. The company has a market capitalization of $606.20 million, a price-to-earnings ratio of 45.91, a P/E/G ratio of 2.13 and a beta of 2.06. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.44.

The Pennant Group (NASDAQ:PNTG) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The business had revenue of $145.95 million during the quarter, compared to analyst estimates of $136.79 million. The Pennant Group had a net margin of 2.46% and a return on equity of 12.78%. During the same period in the previous year, the firm posted $0.15 EPS. As a group, equities analysts anticipate that The Pennant Group, Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PNTG has been the topic of several research reports. Truist Financial upped their price objective on shares of The Pennant Group from $16.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, March 1st. Oppenheimer increased their price objective on The Pennant Group from $18.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Finally, Stephens upgraded The Pennant Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $14.00 to $18.00 in a research note on Friday, January 5th.

The Pennant Group Company Profile

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.