Geode Capital Management LLC Boosts Stock Position in The Pennant Group, Inc. $PNTG

Geode Capital Management LLC raised its holdings in The Pennant Group, Inc. (NASDAQ:PNTG) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 832,481 shares of the company’s stock after purchasing an additional 36,357 shares during the period. Geode Capital Management LLC owned about 2.42% of The Pennant Group worth $24,853,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PNTG. State of Wyoming increased its stake in shares of The Pennant Group by 41.3% in the first quarter. State of Wyoming now owns 6,170 shares of the company’s stock worth $155,000 after buying an additional 1,803 shares during the last quarter. ProShare Advisors LLC bought a new stake in shares of The Pennant Group in the 2nd quarter worth about $207,000. Belpointe Asset Management LLC acquired a new stake in shares of The Pennant Group in the 2nd quarter valued at about $211,000. Bosun Asset Management LLC bought a new position in shares of The Pennant Group during the first quarter worth about $249,000. Finally, AQR Capital Management LLC lifted its position in shares of The Pennant Group by 32.6% during the first quarter. AQR Capital Management LLC now owns 10,255 shares of the company’s stock worth $258,000 after purchasing an additional 2,524 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PNTG. Wells Fargo & Company raised The Pennant Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $29.00 to $31.00 in a report on Tuesday, November 18th. Weiss Ratings reissued a “hold (c)” rating on shares of The Pennant Group in a research report on Monday. Jefferies Financial Group initiated coverage on The Pennant Group in a research note on Friday, October 24th. They set a “buy” rating and a $30.00 price objective on the stock. Zacks Research upgraded shares of The Pennant Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 20th. Finally, Royal Bank Of Canada increased their target price on shares of The Pennant Group from $34.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, The Pennant Group currently has a consensus rating of “Moderate Buy” and an average target price of $33.60.

The Pennant Group Price Performance

Shares of PNTG opened at $27.71 on Friday. The Pennant Group, Inc. has a 12 month low of $21.18 and a 12 month high of $32.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a fifty day moving average price of $25.26 and a 200 day moving average price of $25.79. The company has a market cap of $958.32 million, a P/E ratio of 36.94, a PEG ratio of 2.27 and a beta of 1.39.

The Pennant Group (NASDAQ:PNTG) last posted its earnings results on Wednesday, November 5th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The company had revenue of $229.04 million for the quarter, compared to analysts’ expectations of $221.96 million. The Pennant Group had a return on equity of 9.37% and a net margin of 3.15%. The Pennant Group has set its FY 2025 guidance at 1.140-1.180 EPS. On average, research analysts forecast that The Pennant Group, Inc. will post 0.75 earnings per share for the current year.

About The Pennant Group

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.