Peregrine Capital Management LLC Cuts Holdings in The Pennant Group, Inc. $PNTG

Peregrine Capital Management LLC lowered its holdings in The Pennant Group, Inc. (NASDAQ:PNTG) by 8.8% in the 1st quarter, Holdings Channel reports. The firm owned 188,240 shares of the company’s stock after selling 18,165 shares during the period. Peregrine Capital Management LLC’s holdings in The Pennant Group were worth $5,738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in The Pennant Group by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 2,049,968 shares of the company’s stock worth $57,707,000 after buying an additional 82,071 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of The Pennant Group by 143.2% during the first quarter. Wasatch Advisors LP now owns 1,418,687 shares of the company’s stock valued at $43,242,000 after purchasing an additional 835,227 shares during the last quarter. Ophir Asset Management Pty Ltd lifted its position in The Pennant Group by 24.1% during the fourth quarter. Ophir Asset Management Pty Ltd now owns 1,326,850 shares of the company’s stock valued at $37,351,000 after purchasing an additional 257,840 shares during the period. Geode Capital Management LLC lifted its position in The Pennant Group by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 820,048 shares of the company’s stock valued at $23,089,000 after purchasing an additional 3,875 shares during the period. Finally, Wellington Management Group LLP lifted its position in The Pennant Group by 71.1% during the fourth quarter. Wellington Management Group LLP now owns 817,914 shares of the company’s stock valued at $23,024,000 after purchasing an additional 339,870 shares during the period. 85.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on PNTG. Truist Financial lifted their target price on shares of The Pennant Group from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Royal Bank Of Canada increased their price target on The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Wells Fargo & Company raised their price target on The Pennant Group from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings lowered The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Finally, Wall Street Zen upgraded The Pennant Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $39.00.

The Pennant Group Price Performance

Shares of The Pennant Group stock opened at $37.36 on Thursday. The stock has a market cap of $1.30 billion, a P/E ratio of 43.95, a P/E/G ratio of 2.48 and a beta of 1.25. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.19 and a current ratio of 1.19. The stock’s fifty day moving average is $33.41 and its 200 day moving average is $31.57. The Pennant Group, Inc. has a one year low of $21.73 and a one year high of $38.54.

The Pennant Group (NASDAQ:PNTG) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $285.36 million during the quarter, compared to analyst estimates of $280.75 million. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%. Sell-side analysts anticipate that The Pennant Group, Inc. will post 1.14 earnings per share for the current year.

The Pennant Group 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.