Eversept Partners LP Raises Holdings in The Pennant Group, Inc. $PNTG

Eversept Partners LP raised its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 674.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 293,960 shares of the company’s stock after acquiring an additional 255,980 shares during the quarter. Eversept Partners LP’s holdings in The Pennant Group were worth $8,275,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in The Pennant Group by 84.7% during the 4th quarter. AQR Capital Management LLC now owns 20,595 shares of the company’s stock valued at $580,000 after purchasing an additional 9,447 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in The Pennant Group by 3.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,749 shares of the company’s stock valued at $1,176,000 after purchasing an additional 1,282 shares during the last quarter. California State Teachers Retirement System boosted its stake in The Pennant Group by 8.2% during the 4th quarter. California State Teachers Retirement System now owns 33,812 shares of the company’s stock valued at $952,000 after purchasing an additional 2,559 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in The Pennant Group by 33.9% during the 4th quarter. Russell Investments Group Ltd. now owns 384,303 shares of the company’s stock valued at $10,818,000 after purchasing an additional 97,196 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in The Pennant Group by 14.2% during the 4th quarter. Rice Hall James & Associates LLC now owns 257,510 shares of the company’s stock valued at $7,249,000 after purchasing an additional 31,932 shares during the last quarter. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

The Pennant Group Price Performance

NASDAQ PNTG opened at $34.58 on Thursday. The business’s fifty day moving average price is $32.52 and its 200-day moving average price is $31.13. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 40.68, a PEG ratio of 2.28 and a beta of 1.29. 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 $37.54.

The Pennant Group (NASDAQ:PNTG) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $285.36 million for the quarter, compared to analysts’ expectations 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 analysts predict that The Pennant Group, Inc. will post 1.14 earnings per share for the current 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.