Teacher Retirement System of Texas Raises Stake in The Pennant Group, Inc. $PNTG

Teacher Retirement System of Texas grew its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 131.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,956 shares of the company’s stock after purchasing an additional 53,353 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.27% of The Pennant Group worth $2,805,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. 8 Knots Management LLC boosted its stake in shares of The Pennant Group by 23.9% during the first quarter. 8 Knots Management LLC now owns 3,014,023 shares of the company’s stock valued at $75,803,000 after purchasing an additional 581,313 shares during the period. Van Berkom & Associates Inc. boosted its stake in shares of The Pennant Group by 29.6% during the first quarter. Van Berkom & Associates Inc. now owns 2,849,562 shares of the company’s stock valued at $71,666,000 after purchasing an additional 651,346 shares during the period. Paradigm Capital Management Inc. NY boosted its stake in shares of The Pennant Group by 1.7% during the first quarter. Paradigm Capital Management Inc. NY now owns 955,000 shares of the company’s stock valued at $24,018,000 after purchasing an additional 16,000 shares during the period. De Lisle Partners LLP boosted its stake in shares of The Pennant Group by 6.9% during the first quarter. De Lisle Partners LLP now owns 407,801 shares of the company’s stock valued at $10,260,000 after purchasing an additional 26,339 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of The Pennant Group during the first quarter valued at $9,181,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PNTG has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of The Pennant Group from $31.00 to $29.00 and set an “equal weight” rating for the company in a research note on Thursday, August 14th. Stephens reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of The Pennant Group in a research note on Thursday, October 9th. Wall Street Zen lowered shares of The Pennant Group from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Truist Financial lowered their price objective on shares of The Pennant Group from $32.00 to $28.00 and set a “hold” rating for the company in a research note on Wednesday, July 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Pennant Group in a research note on Tuesday, October 14th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.80.

The Pennant Group Stock Up 0.5%

NASDAQ:PNTG opened at $24.73 on Monday. The Pennant Group, Inc. has a 1-year low of $21.18 and a 1-year high of $34.36. The company has a 50-day moving average of $24.71 and a 200 day moving average of $25.84. The firm has a market cap of $854.67 million, a PE ratio of 31.71, a price-to-earnings-growth ratio of 2.03 and a beta of 1.39. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.21 and a quick ratio of 1.21.

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.