Provident Investment Management Inc. Sells 44,793 Shares of The Pennant Group, Inc. $PNTG

Key Points

• Provident Investment Management reduced its Pennant Group stake by 4.8%, selling 44,793 shares and retaining 894,415 shares worth approximately $34.9 million. Institutional investors collectively own 85.88% of PNTG.
• Pennant Group reported quarterly EPS of $0.36, exceeding analyst expectations of $0.33, while revenue reached $297.98 million versus the $288.71 million consensus estimate.
• Analyst sentiment remains positive, with five Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $46, above the reported $41.88 share price.

Provident Investment Management Inc. reduced its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 894,415 shares of the company's stock after selling 44,793 shares during the period. The Pennant Group makes up 3.5% of Provident Investment Management Inc.'s portfolio, making the stock its 11th biggest holding. Provident Investment Management Inc. owned about 2.56% of The Pennant Group worth $34,882,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sterling Capital Management LLC raised its position in shares of The Pennant Group by 846.7% in the third quarter. Sterling Capital Management LLC now owns 1,136 shares of the company's stock worth $44,000 after buying an additional 1,016 shares in the last quarter. Kings Path Partners LLC bought a new stake in The Pennant Group during the third quarter valued at $684,000. Pinnacle Associates Ltd. grew its position in The Pennant Group by 3.5% during the third quarter. Pinnacle Associates Ltd. now owns 38,594 shares of the company's stock worth $1,505,000 after buying an additional 1,313 shares in the last quarter. Nisa Investment Advisors LLC grew its position in The Pennant Group by 45.4% during the third quarter. Nisa Investment Advisors LLC now owns 3,413 shares of the company's stock worth $133,000 after buying an additional 1,065 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in The Pennant Group during the third quarter worth about $940,000. Institutional investors own 85.88% of the company's stock.

The Pennant Group Price Performance

Shares of NASDAQ:PNTG opened at $41.88 on Monday. The company's fifty day moving average price is $39.64 and its 200-day moving average price is $36.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 46.53, a PEG ratio of 2.73 and a beta of 1.25. The Pennant Group, Inc. has a one year low of $22.25 and a one year high of $42.74.

The Pennant Group (NASDAQ:PNTG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $297.98 million during the quarter, compared to the consensus estimate of $288.71 million. The Pennant Group has set its FY 2026 guidance at 1.340-1.410 EPS. On average, equities research analysts anticipate that The Pennant Group, Inc. will post 1.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

About The Pennant Group

The Pennant Group, Inc is a healthcare services company that operates home health, hospice and senior living businesses in the United States. Through its affiliated agencies and communities, the company provides skilled nursing, physical, occupational and speech therapy, personal care, hospice and palliative services, assisted living, and other support for older adults and individuals recovering from illness or injury.

Pennant's home health and hospice operations serve patients in their homes and other residential settings, while its senior living segment operates communities that provide assisted living and related services.

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