The Pennant Group, Inc. $PNTG Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC reduced its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 6.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 661,051 shares of the company’s stock after selling 43,484 shares during the quarter. Riverbridge Partners LLC owned 1.89% of The Pennant Group worth $20,149,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNTG. Caitong International Asset Management Co. Ltd lifted its position in shares of The Pennant Group by 154.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,182 shares of the company’s stock worth $33,000 after purchasing an additional 717 shares in the last quarter. Quarry LP acquired a new stake in The Pennant Group during the 3rd quarter valued at $37,000. CIBC Private Wealth Group LLC increased its stake in The Pennant Group by 651.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company’s stock worth $86,000 after buying an additional 2,946 shares during the period. Quadrant Capital Group LLC increased its stake in The Pennant Group by 608.7% during the 4th quarter. Quadrant Capital Group LLC now owns 3,182 shares of the company’s stock worth $90,000 after buying an additional 2,733 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in The Pennant Group by 161.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,987 shares of the company’s stock worth $119,000 after buying an additional 2,463 shares during the period. 85.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

The Pennant Group Price Performance

PNTG opened at $34.23 on Wednesday. The company has a 50-day moving average of $32.73 and a 200-day moving average of $31.27. The company has a market capitalization of $1.19 billion, a P/E ratio of 40.27, a PEG ratio of 2.26 and a beta of 1.29. The Pennant Group, Inc. has a 1-year low of $21.73 and a 1-year high of $37.54. 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 Pennant Group (NASDAQ:PNTG) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $285.36 million for the quarter, compared to analysts’ expectations of $280.75 million. The Pennant Group had a net margin of 2.96% and a return on equity of 10.07%. Equities analysts expect that The Pennant Group, Inc. will post 1.14 EPS for the current fiscal year.

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.