Public Employees Retirement System of Ohio Takes Position in The Pennant Group, Inc. $PNTG

Key Points

• Public Employees Retirement System of Ohio purchased 47,410 shares of The Pennant Group valued at approximately $1.45 million, joining several institutional investors that increased their holdings. Institutions collectively own 85.88% of the company.
• The Pennant Group exceeded quarterly expectations, reporting $0.32 EPS versus the $0.31 consensus estimate and revenue of $285.36 million compared with the $280.75 million forecast.
• Analyst sentiment remains favorable, with six Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $41.00; recent targets range as high as $48.00.

Public Employees Retirement System of Ohio bought a new position in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 47,410 shares of the company's stock, valued at approximately $1,445,000. Public Employees Retirement System of Ohio owned 0.14% of The Pennant Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership lifted its stake in The Pennant Group by 34.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 28,124 shares of the company's stock worth $857,000 after purchasing an additional 7,204 shares during the period. Sei Investments Co. raised its holdings in shares of The Pennant Group by 33.7% in the 1st quarter. Sei Investments Co. now owns 153,546 shares of the company's stock worth $4,680,000 after buying an additional 38,735 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 buying an additional 11,943 shares during the period. Parallel Advisors LLC boosted its stake in The Pennant Group by 1,186.8% in the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the company's stock valued at $42,000 after buying an additional 1,258 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in The Pennant Group by 548.9% in the first quarter. Fifth Third Bancorp now owns 6,807 shares of the company's stock valued at $207,000 after acquiring an additional 5,758 shares during the period. Institutional investors own 85.88% of the company's stock.

The Pennant Group Price Performance

Shares of NASDAQ:PNTG opened at $40.32 on Monday. The Pennant Group, Inc. has a one year low of $21.73 and a one year high of $42.69. The company has a 50 day moving average of $36.62 and a 200-day moving average of $33.34. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 47.44, a P/E/G ratio of 2.71 and a beta of 1.25.

The Pennant Group (NASDAQ:PNTG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. The Pennant Group had a return on equity of 10.07% and a net margin of 2.96%.The business had revenue of $285.36 million for the quarter, compared to analyst estimates of $280.75 million. On average, sell-side analysts forecast that The Pennant Group, Inc. will post 1.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PNTG. Truist Financial lifted their price target on shares of The Pennant Group from $42.00 to $48.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Wells Fargo & Company upped their price objective on shares of The Pennant Group from $41.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Weiss Ratings lowered shares of The Pennant Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, July 21st. Royal Bank Of Canada lifted their target price on shares of The Pennant Group from $41.00 to $42.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Finally, Wall Street Zen raised The Pennant Group from a "hold" rating to a "buy" rating in a report on Saturday, June 20th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.00.

The Pennant Group Company Profile

The Pennant Group NASDAQ: PNTG is a publicly traded holding company that provides specialized services to the asset management industry. Through its operating subsidiaries, the company delivers outsourced fund administration, securities lending, prime brokerage, and capital markets solutions designed to support hedge funds, private equity firms, mutual funds and other institutional investors. By leveraging a combination of technology platforms and industry expertise, The Pennant Group helps clients streamline middle- and back-office processes, enhance operational efficiency and manage regulatory requirements.

Key service offerings include fund accounting and reporting, trade settlement and reconciliation, risk monitoring, securities lending programs and execution support across a range of asset classes.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source