3,480,949 Shares of The Pennant Group, Inc. $PNTG Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group plc acquired 3,480,949 Pennant Group shares in the third quarter, worth about $135.8 million and representing approximately 9.97% of the company.
• Institutional investors and hedge funds own 85.88% of Pennant Group shares; several other firms also recently established or increased stakes.
• Pennant reported quarterly EPS of $0.35, slightly below analysts’ $0.36 estimate, while revenue of $302.25 million topped expectations. Analysts’ average rating was “Moderate Buy,” with an average price target of $48.

Aberdeen Group plc purchased a new stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,480,949 shares of the company's stock, valued at approximately $135,757,000. Aberdeen Group plc owned approximately 9.97% of The Pennant Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PNTG. BlackRock Inc. bought a new stake in The Pennant Group during the second quarter worth about $109,340,000. Turtle Creek Asset Management Inc. raised its stake in shares of The Pennant Group by 12,075.6% in the first quarter. Turtle Creek Asset Management Inc. now owns 1,582,823 shares of the company's stock valued at $48,244,000 after acquiring an additional 1,569,823 shares during the last quarter. Paradigm Capital Management Inc. NY bought a new position in shares of The Pennant Group in the second quarter valued at approximately $51,833,000. Boone Capital Management LLC acquired a new position in shares of The Pennant Group in the 2nd quarter worth approximately $19,059,000. Finally, De Lisle Partners LLP acquired a new position in shares of The Pennant Group in the 2nd quarter worth approximately $18,755,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

The Pennant Group Trading Up 0.4%

PNTG opened at $36.07 on Friday. The Pennant Group, Inc. has a 1-year low of $24.46 and a 1-year high of $44.24. The stock has a market capitalization of $1.27 billion, a PE ratio of 36.43, a PEG ratio of 2.43 and a beta of 1.33. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $40.04 and a two-hundred day moving average price of $35.85.

The Pennant Group (NASDAQ:PNTG - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). The Pennant Group had a return on equity of 10.23% and a net margin of 3.05%. The company had revenue of $302.25 million for the quarter, compared to analyst estimates of $299.34 million. As a group, equities analysts anticipate that The Pennant Group, Inc. will post 1.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada raised their price target on The Pennant Group from $44.00 to $48.00 and gave the company an "outperform" rating in a report on Friday, November 6th. Weiss Ratings raised The Pennant Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 19th. Wall Street Zen lowered The Pennant Group from a "buy" rating to a "hold" rating in a research note on Saturday, November 7th. Oppenheimer increased their target price on The Pennant Group from $47.00 to $50.00 and gave the stock an "outperform" rating in a report on Thursday, November 5th. Finally, Wells Fargo & Company raised their target price on The Pennant Group from $45.00 to $46.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, The Pennant Group has an average rating of "Moderate Buy" and an average target price of $48.00.

The Pennant Group Profile

The Pennant Group, Inc. provides healthcare and senior living services through independently operated subsidiaries. Its services include home health and hospice care for people in their homes, as well as senior living options such as assisted living and memory care. Based in Eagle, Idaho, the company operates across multiple U.S. states, with a presence concentrated in the western part of the country. Its local operating teams provide care and support to patients, residents and their families. Pennant became an independent publicly traded company in 2019 after separating from The Ensign Group.

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