Wasatch Advisors LP Sells 185,945 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Wasatch Advisors LP lowered its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 12.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,279,809 shares of the company’s stock after selling 185,945 shares during the quarter. Wasatch Advisors LP’s holdings in The Pennant Group were worth $25,123,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PNTG. 8 Knots Management LLC bought a new stake in shares of The Pennant Group during the fourth quarter valued at approximately $25,578,000. Boone Capital Management LLC bought a new stake in shares of The Pennant Group during the fourth quarter valued at approximately $4,589,000. Allianz Asset Management GmbH bought a new stake in shares of The Pennant Group during the fourth quarter valued at approximately $2,351,000. Kent Lake Capital LLC increased its position in shares of The Pennant Group by 34.6% during the third quarter. Kent Lake Capital LLC now owns 583,631 shares of the company’s stock valued at $6,496,000 after acquiring an additional 150,187 shares in the last quarter. Finally, Trexquant Investment LP boosted its holdings in The Pennant Group by 186.0% in the fourth quarter. Trexquant Investment LP now owns 89,656 shares of the company’s stock worth $1,248,000 after purchasing an additional 58,310 shares during the last quarter. Institutional investors own 85.88% of the company’s stock.

The Pennant Group Stock Up 4.6 %

PNTG opened at $24.48 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market cap of $735.62 million, a price-to-earnings ratio of 45.33, a price-to-earnings-growth ratio of 2.45 and a beta of 2.01. The firm’s fifty day moving average is $22.58 and its 200 day moving average is $19.06. The Pennant Group, Inc. has a fifty-two week low of $10.31 and a fifty-two week high of $24.50.

The Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.15. The company had revenue of $156.92 million for the quarter, compared to the consensus estimate of $146.01 million. The Pennant Group had a net margin of 2.86% and a return on equity of 13.42%. On average, sell-side analysts forecast that The Pennant Group, Inc. will post 0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PNTG has been the topic of several research reports. Truist Financial raised their target price on shares of The Pennant Group from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, May 15th. Stephens reiterated an “overweight” rating and set a $25.00 price target on shares of The Pennant Group in a research note on Thursday, June 20th. Finally, Royal Bank of Canada lifted their target price on shares of The Pennant Group from $21.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th.

About The Pennant Group

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.