Eversept Partners LP Increases Position in The Pennant Group, Inc. $PNTG

Eversept Partners LP grew its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 6.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 312,178 shares of the company’s stock after purchasing an additional 18,218 shares during the period. Eversept Partners LP owned approximately 0.90% of The Pennant Group worth $9,515,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PNTG. Quantinno Capital Management LP grew its stake in shares of The Pennant Group by 23.3% in the 1st quarter. Quantinno Capital Management LP now owns 11,398 shares of the company’s stock worth $347,000 after buying an additional 2,155 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in The Pennant Group during the first quarter valued at $1,445,000. Arrowstreet Capital Limited Partnership boosted its holdings in The Pennant Group by 34.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 28,124 shares of the company’s stock worth $857,000 after acquiring an additional 7,204 shares in the last quarter. Sei Investments Co. boosted its holdings in The Pennant Group by 33.7% in the first quarter. Sei Investments Co. now owns 153,546 shares of the company’s stock worth $4,680,000 after acquiring an additional 38,735 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in The Pennant Group by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 815,660 shares of the company’s stock worth $24,861,000 after acquiring an additional 11,943 shares in the last quarter. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

The Pennant Group Stock Up 0.4%

PNTG stock opened at $41.34 on Tuesday. The stock has a market capitalization of $1.44 billion, a P/E ratio of 48.64, a P/E/G ratio of 2.77 and a beta of 1.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 1.19. The Pennant Group, Inc. has a 1-year low of $21.73 and a 1-year high of $42.55. The business has a fifty day moving average price of $36.10 and a 200-day moving average price of $33.00.

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

Wall Street Analyst Weigh In

PNTG has been the subject of several analyst reports. Truist Financial raised their price target on The Pennant Group from $42.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Wells Fargo & Company increased their price objective on shares of The Pennant Group from $41.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Weiss Ratings lowered shares of The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 21st. Wall Street Zen raised shares of The Pennant Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Finally, Royal Bank Of Canada lifted their target price on shares of The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, The Pennant Group has a consensus rating of “Moderate Buy” and an average target price of $41.00.

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.