Eversept Partners LP Acquires 255,980 Shares of The Pennant Group, Inc. $PNTG

Eversept Partners LP raised its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 674.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 293,960 shares of the company’s stock after purchasing an additional 255,980 shares during the period. Eversept Partners LP owned 0.85% of The Pennant Group worth $8,275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC raised its position in shares of The Pennant Group by 84.7% in the 4th quarter. AQR Capital Management LLC now owns 20,595 shares of the company’s stock worth $580,000 after acquiring an additional 9,447 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of The Pennant Group by 3.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,749 shares of the company’s stock worth $1,176,000 after acquiring an additional 1,282 shares in the last quarter. California State Teachers Retirement System raised its position in shares of The Pennant Group by 8.2% in the 4th quarter. California State Teachers Retirement System now owns 33,812 shares of the company’s stock worth $952,000 after acquiring an additional 2,559 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of The Pennant Group by 33.9% in the 4th quarter. Russell Investments Group Ltd. now owns 384,303 shares of the company’s stock worth $10,818,000 after acquiring an additional 97,196 shares in the last quarter. Finally, Rice Hall James & Associates LLC raised its position in shares of The Pennant Group by 14.2% in the 4th quarter. Rice Hall James & Associates LLC now owns 257,510 shares of the company’s stock worth $7,249,000 after acquiring an additional 31,932 shares in the last quarter. Institutional investors own 85.88% of the company’s stock.

The Pennant Group Stock Performance

The Pennant Group stock opened at $34.58 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.20 billion, a P/E ratio of 40.68, a PEG ratio of 2.28 and a beta of 1.29. The stock’s 50 day moving average is $32.52 and its 200 day moving average is $31.13. The Pennant Group, Inc. has a twelve month low of $21.73 and a twelve month high of $37.54.

The Pennant Group (NASDAQ:PNTG) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $285.36 million for the quarter, compared to the consensus estimate of $280.75 million. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%. On average, equities research analysts predict that The Pennant Group, Inc. will post 1.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PNTG shares. Wells Fargo & Company increased their target price on The Pennant Group from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Wall Street Zen lowered The Pennant Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Royal Bank Of Canada increased their target price on The Pennant Group from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Weiss Ratings lowered The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Finally, Truist Financial increased their target price on The Pennant Group from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

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.