92,827 Shares in The Pennant Group, Inc. $PNTG Bought by Bank of America Corp DE

Key Points

• Bank of America purchased 92,827 shares of The Pennant Group during the second quarter, valued at approximately $3.43 million and representing about 0.27% of the company. Institutional investors and hedge funds collectively own 85.88% of PNTG.
• Analyst sentiment remains positive: seven analysts rate PNTG a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average price target of $41.60.
• PNTG shares opened at $40.50, near their 52-week high of $42.74. The company’s latest quarterly results exceeded expectations, with earnings of $0.36 per share versus a $0.33 estimate and revenue of $297.98 million.

Bank of America Corp DE purchased a new stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 92,827 shares of the company's stock, valued at approximately $3,430,000. Bank of America Corp DE owned about 0.27% of The Pennant Group as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of The Pennant Group in the 2nd quarter worth about $109,340,000. Wasatch Advisors LP grew its holdings in shares of The Pennant Group by 31.8% during the 2nd quarter. Wasatch Advisors LP now owns 1,870,178 shares of the company's stock worth $69,103,000 after purchasing an additional 451,491 shares during the period. Turtle Creek Asset Management Inc. raised its holdings in shares of The Pennant Group by 12,075.6% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,582,823 shares of the company's stock valued at $48,244,000 after buying an additional 1,569,823 shares during the period. Paradigm Capital Management Inc. NY purchased a new stake in shares of The Pennant Group during the 2nd quarter valued at about $51,833,000. Finally, Dimensional Fund Advisors LP lifted its position in The Pennant Group by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 815,660 shares of the company's stock worth $24,861,000 after acquiring an additional 11,943 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PNTG has been the subject of several analyst reports. Truist Financial upped their target price on shares of The Pennant Group from $42.00 to $48.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of The Pennant Group from a "hold" rating to a "buy" rating in a report on Saturday, June 20th. Royal Bank Of Canada upped their price objective on shares of The Pennant Group from $42.00 to $44.00 and gave the company an "outperform" rating in a research report on Thursday, August 20th. Weiss Ratings upgraded The Pennant Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 19th. Finally, Wells Fargo & Company lifted their target price on The Pennant Group from $45.00 to $46.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, The Pennant Group currently has a consensus rating of "Moderate Buy" and an average price target of $41.60.

The Pennant Group Stock Down 1.0%

Shares of NASDAQ:PNTG opened at $40.50 on Wednesday. The company's fifty day moving average is $39.39 and its two-hundred day moving average is $35.73. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.20 and a current ratio of 1.20. The Pennant Group, Inc. has a 1-year low of $22.25 and a 1-year high of $42.74. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 45.00, a price-to-earnings-growth ratio of 2.67 and a beta of 1.27.

The Pennant Group (NASDAQ:PNTG - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The Pennant Group had a net margin of 2.93% and a return on equity of 10.33%. The business had revenue of $297.98 million during the quarter, compared to analyst estimates of $288.71 million. The Pennant Group has set its FY 2026 guidance at 1.340-1.410 EPS. Equities analysts anticipate that The Pennant Group, Inc. will post 1.18 EPS for the current year.

The Pennant Group Company Profile

The Pennant Group, Inc is a healthcare services company that operates home health, hospice and personal care businesses, as well as senior living communities. Its services are designed to support older adults and other patients in their homes, residential settings and communities, with offerings that may include skilled nursing, therapy, hospice care, assisted living and memory care.

The company serves patients and residents through a network of affiliated operating companies and communities across multiple U.S.

Want to see what other hedge funds are holding PNTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Pennant Group, Inc. (NASDAQ:PNTG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.