The Pennant Group, Inc. $PNTG Stock Sold by Provident Investment Management Inc.

Provident Investment Management Inc. decreased its position in The Pennant Group, Inc. (NASDAQ:PNTG) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 894,415 shares of the company’s stock after selling 44,793 shares during the quarter. The Pennant Group accounts for 3.5% of Provident Investment Management Inc.’s portfolio, making the stock its 11th largest position. Provident Investment Management Inc.’s holdings in The Pennant Group were worth $34,882,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Sterling Capital Management LLC boosted its stake in The Pennant Group by 846.7% in the third quarter. Sterling Capital Management LLC now owns 1,136 shares of the company’s stock worth $44,000 after buying an additional 1,016 shares in the last quarter. Kings Path Partners LLC bought a new position in The Pennant Group during the third quarter valued at approximately $684,000. Pinnacle Associates Ltd. grew its position in The Pennant Group by 3.5% during the third quarter. Pinnacle Associates Ltd. now owns 38,594 shares of the company’s stock valued at $1,505,000 after acquiring an additional 1,313 shares during the last quarter. Nisa Investment Advisors LLC grew its position in The Pennant Group by 45.4% during the third quarter. Nisa Investment Advisors LLC now owns 3,413 shares of the company’s stock valued at $133,000 after acquiring an additional 1,065 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of The Pennant Group during the third quarter worth approximately $940,000. Institutional investors own 85.88% of the company’s stock.

Analysts Set New Price Targets

PNTG has been the subject of a number of recent research reports. Truist Financial boosted their price objective on shares of The Pennant Group from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Royal Bank Of Canada upped their price objective on shares of The Pennant Group from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Wells Fargo & Company increased their target price on shares of The Pennant Group from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of The Pennant Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 19th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.00.

The Pennant Group Stock Performance

NASDAQ PNTG opened at $41.88 on Monday. The Pennant Group, Inc. has a 1-year low of $22.25 and a 1-year high of $42.74. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average of $39.64 and a 200-day moving average of $36.90. The firm has a market cap of $1.46 billion, a PE ratio of 46.53, a price-to-earnings-growth ratio of 2.73 and a beta of 1.25.

The Pennant Group (NASDAQ:PNTG) last issued its earnings results on Wednesday, August 5th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. The Pennant Group had a return on equity of 10.33% and a net margin of 2.93%. The company had revenue of $297.98 million during the quarter, compared to analysts’ expectations of $288.71 million. The Pennant Group has set its FY 2026 guidance at 1.340-1.410 EPS. As a group, sell-side analysts forecast that The Pennant Group, Inc. will post 1.18 EPS for the current year.

The Pennant Group Profile

The Pennant Group, Inc is a healthcare services company that operates home health, hospice and senior living businesses in the United States. Through its affiliated agencies and communities, the company provides skilled nursing, physical, occupational and speech therapy, personal care, hospice and palliative services, assisted living, and other support for older adults and individuals recovering from illness or injury.

Pennant’s home health and hospice operations serve patients in their homes and other residential settings, while its senior living segment operates communities that provide assisted living and related services.