The Pennant Group, Inc. (NASDAQ:PNTG) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 292.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,738 shares of the company’s stock after buying an additional 16,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of The Pennant Group worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH purchased a new stake in shares of The Pennant Group during the 4th quarter worth approximately $2,351,000. Keeley Teton Advisors LLC acquired a new stake in The Pennant Group in the fourth quarter valued at $603,000. Wasatch Advisors LP increased its position in shares of The Pennant Group by 3.3% in the fourth quarter. Wasatch Advisors LP now owns 1,465,754 shares of the company’s stock valued at $20,403,000 after buying an additional 46,484 shares in the last quarter. Sei Investments Co. raised its stake in shares of The Pennant Group by 679.7% during the 1st quarter. Sei Investments Co. now owns 136,026 shares of the company’s stock worth $2,670,000 after buying an additional 118,581 shares during the last quarter. Finally, 8 Knots Management LLC purchased a new stake in shares of The Pennant Group in the 4th quarter worth about $25,578,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PNTG has been the subject of a number of research reports. Stephens lifted their target price on shares of The Pennant Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Oppenheimer lifted their price objective on The Pennant Group from $28.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Truist Financial increased their target price on The Pennant Group from $28.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, August 15th.

The Pennant Group Stock Performance

Shares of NASDAQ PNTG opened at $31.84 on Friday. The company has a 50-day simple moving average of $29.41 and a 200-day simple moving average of $23.86. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $956.66 million, a PE ratio of 58.96, a price-to-earnings-growth ratio of 3.58 and a beta of 2.01. The Pennant Group, Inc. has a 12 month low of $10.31 and a 12 month high of $35.57.

The Pennant Group (NASDAQ:PNTG) last released its earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $168.75 million during the quarter, compared to analysts’ expectations of $156.71 million. The Pennant Group had a net margin of 3.16% and a return on equity of 13.74%. On average, equities analysts anticipate that The Pennant Group, Inc. will post 0.74 earnings per share for the current year.

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.