Los Angeles Capital Management LLC Reduces Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Los Angeles Capital Management LLC lowered its holdings in The Pennant Group, Inc. (NASDAQ:PNTG) by 9.6% in the second quarter, HoldingsChannel reports. The firm owned 61,821 shares of the company’s stock after selling 6,600 shares during the period. Los Angeles Capital Management LLC’s holdings in The Pennant Group were worth $1,434,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. 8 Knots Management LLC grew its holdings in The Pennant Group by 34.0% during the 1st quarter. 8 Knots Management LLC now owns 2,462,553 shares of the company’s stock worth $48,340,000 after acquiring an additional 625,061 shares in the last quarter. Vanguard Group Inc. grew its stake in The Pennant Group by 4.3% in the first quarter. Vanguard Group Inc. now owns 1,859,679 shares of the company’s stock worth $36,505,000 after purchasing an additional 77,052 shares in the last quarter. Wasatch Advisors LP grew its stake in The Pennant Group by 3.3% in the fourth quarter. Wasatch Advisors LP now owns 1,465,754 shares of the company’s stock worth $20,403,000 after purchasing an additional 46,484 shares in the last quarter. Crewe Advisors LLC increased its holdings in The Pennant Group by 0.7% in the fourth quarter. Crewe Advisors LLC now owns 1,108,104 shares of the company’s stock valued at $15,425,000 after buying an additional 7,797 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its stake in The Pennant Group by 8.2% during the first quarter. Hillsdale Investment Management Inc. now owns 352,292 shares of the company’s stock valued at $6,915,000 after buying an additional 26,670 shares in the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PNTG shares. Oppenheimer lifted their target price 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. Stephens lifted their price objective on shares of The Pennant Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Truist Financial increased their target price on shares of The Pennant Group from $28.00 to $34.00 and gave the stock a “hold” rating in a report on Thursday, August 15th.

The Pennant Group Stock Up 4.6 %

Shares of The Pennant Group stock opened at $33.62 on Thursday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 62.26, a PEG ratio of 3.32 and a beta of 2.01. The Pennant Group, Inc. has a twelve month low of $10.31 and a twelve month high of $35.57. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.48. The business’s 50 day simple moving average is $29.93 and its 200-day simple moving average is $24.24.

The Pennant Group (NASDAQ:PNTG) last posted its earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $168.75 million for the quarter, compared to analysts’ expectations of $156.71 million. The Pennant Group had a return on equity of 13.74% and a net margin of 3.16%. Equities research analysts forecast that The Pennant Group, Inc. will post 0.74 earnings per share for the current 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.