The Pennant Group, Inc. $PNTG Shares Sold by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd trimmed its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 45.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 76,411 shares of the company’s stock after selling 63,495 shares during the period. The Pennant Group accounts for 1.3% of Persistent Asset Partners Ltd’s portfolio, making the stock its 19th biggest position. Persistent Asset Partners Ltd owned approximately 0.22% of The Pennant Group worth $1,927,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PNTG. Ophir Asset Management Pty Ltd increased its holdings in shares of The Pennant Group by 403.9% during the 2nd quarter. Ophir Asset Management Pty Ltd now owns 1,048,759 shares of the company’s stock worth $31,305,000 after purchasing an additional 840,642 shares during the period. WCM Investment Management LLC bought a new position in shares of The Pennant Group in the 3rd quarter valued at about $16,100,000. Ameriprise Financial Inc. acquired a new stake in shares of The Pennant Group during the second quarter worth $14,356,000. Van Berkom & Associates Inc. raised its holdings in The Pennant Group by 10.1% in the third quarter. Van Berkom & Associates Inc. now owns 3,112,812 shares of the company’s stock worth $78,505,000 after purchasing an additional 284,856 shares during the period. Finally, Ranger Investment Management L.P. raised its position in shares of The Pennant Group by 56.6% during the second quarter. Ranger Investment Management L.P. now owns 304,925 shares of the company’s stock worth $9,102,000 after purchasing an additional 110,175 shares during the period. 85.88% of the stock is owned by institutional investors and hedge funds.

The Pennant Group Stock Down 0.9%

Shares of NASDAQ:PNTG opened at $32.35 on Friday. The Pennant Group, Inc. has a 1 year low of $21.18 and a 1 year high of $33.04. The business has a fifty day moving average price of $29.54 and a two-hundred day moving average price of $26.83. The company has a market capitalization of $1.12 billion, a PE ratio of 43.13, a price-to-earnings-growth ratio of 2.27 and a beta of 1.27. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.04 and a quick ratio of 1.04.

Analyst Ratings Changes

Several research firms recently issued reports on PNTG. Zacks Research lowered The Pennant Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Royal Bank Of Canada restated an “outperform” rating on shares of The Pennant Group in a research report on Friday, December 19th. Truist Financial upgraded The Pennant Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $28.00 to $34.00 in a research report on Tuesday, December 2nd. Wells Fargo & Company raised their target price on The Pennant Group from $31.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Finally, Wall Street Zen cut shares of The Pennant Group from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.20.

About The Pennant Group

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.