Trust Point Inc. Increases Stock Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Trust Point Inc. increased its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 9.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,926 shares of the company’s stock after buying an additional 2,199 shares during the period. Trust Point Inc. owned 0.08% of The Pennant Group worth $890,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PNTG. Quadrature Capital Ltd purchased a new stake in The Pennant Group during the fourth quarter worth $288,000. Los Angeles Capital Management LLC lifted its holdings in The Pennant Group by 16.1% during the first quarter. Los Angeles Capital Management LLC now owns 68,421 shares of the company’s stock valued at $1,343,000 after purchasing an additional 9,480 shares in the last quarter. Principal Financial Group Inc. purchased a new position in The Pennant Group during the first quarter valued at $197,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in The Pennant Group by 101.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,908 shares of the company’s stock valued at $450,000 after purchasing an additional 11,536 shares in the last quarter. Finally, ClariVest Asset Management LLC lifted its holdings in The Pennant Group by 14.9% during the first quarter. ClariVest Asset Management LLC now owns 87,850 shares of the company’s stock valued at $1,724,000 after purchasing an additional 11,359 shares in the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Stephens reaffirmed an “overweight” rating and set a $40.00 price objective on shares of The Pennant Group in a report on Wednesday, October 9th. Oppenheimer increased their price objective on shares of The Pennant Group from $28.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Truist Financial increased their target price on shares of The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, October 7th.

The Pennant Group Price Performance

Shares of NASDAQ PNTG opened at $34.85 on Friday. The firm has a 50-day simple moving average of $33.67 and a 200-day simple moving average of $27.13. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 55.32, a price-to-earnings-growth ratio of 3.57 and a beta of 2.01. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.48. The Pennant Group, Inc. has a 52 week low of $10.46 and a 52 week high of $37.13.

The Pennant Group (NASDAQ:PNTG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The Pennant Group had a net margin of 3.16% and a return on equity of 13.74%. The firm had revenue of $168.75 million during the quarter, compared to analysts’ expectations of $156.71 million. On average, equities analysts predict that The Pennant Group, Inc. will post 0.75 earnings per share for the current fiscal year.

The Pennant Group Profile

The Pennant Group, Inc provides healthcare services in the United States. It operates in two segments, Home Health and Hospice Services, and Senior Living Services. The company offers home health services, including clinical services, such as nursing, speech, occupational and physical therapy, medical social work, and home health aide services; and hospice services comprising clinical care, education, and counseling services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.