Allianz Asset Management GmbH Sells 67,093 Shares of The Pennant Group, Inc. $PNTG

Allianz Asset Management GmbH cut its holdings in The Pennant Group, Inc. (NASDAQ:PNTG) by 53.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,555 shares of the company’s stock after selling 67,093 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.17% of The Pennant Group worth $1,502,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Royal Bank of Canada boosted its stake in The Pennant Group by 174.5% during the first quarter. Royal Bank of Canada now owns 27,290 shares of the company’s stock worth $687,000 after acquiring an additional 17,347 shares in the last quarter. AQR Capital Management LLC increased its position in The Pennant Group by 32.6% during 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. increased its position in The Pennant Group by 4.6% during 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 raised its stake in The Pennant Group by 4.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 81,392 shares of the company’s stock valued at $2,047,000 after buying an additional 3,507 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in The Pennant Group in the first quarter worth $297,000. 85.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PNTG has been the subject of several analyst reports. Truist Financial upgraded The Pennant Group from a “hold” rating to a “buy” rating and raised their price target for the company from $28.00 to $34.00 in a report on Tuesday, December 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of The Pennant Group in a research report on Monday, December 29th. Wall Street Zen lowered shares of The Pennant Group from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of The Pennant Group in a report on Friday, December 19th. Finally, William Blair assumed coverage on shares of The Pennant Group in a report on Monday, December 8th. They set an “outperform” rating on the stock. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $36.20.

The Pennant Group Stock Performance

Shares of PNTG stock opened at $31.16 on Friday. The company has a 50 day moving average price of $29.24 and a 200-day moving average price of $26.50. The Pennant Group, Inc. has a 52 week low of $21.18 and a 52 week high of $32.29. The firm has a market capitalization of $1.08 billion, a PE ratio of 41.55, a P/E/G ratio of 2.20 and a beta of 1.27. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.08.

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.