The Pennant Group, Inc. $PNTG Stock: Van Berkom & Associates Inc. Lowers Stake

Key Points

• Van Berkom & Associates cut its Pennant Group stake by 8.6%, selling 203,633 shares in the third quarter. It still held 2.17 million shares, worth about $84.5 million and equal to 6.2% of the company.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $48; six analysts rate the stock Buy and one rates it Hold.
• Pennant reported quarterly EPS of $0.35, slightly below the $0.36 estimate, while revenue of $302.25 million exceeded the $299.34 million consensus.

Van Berkom & Associates Inc. lowered its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 8.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,165,636 shares of the company's stock after selling 203,633 shares during the quarter. The Pennant Group accounts for about 3.0% of Van Berkom & Associates Inc.'s portfolio, making the stock its 6th biggest position. Van Berkom & Associates Inc. owned about 6.20% of The Pennant Group worth $84,460,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of The Pennant Group during the 2nd quarter valued at about $109,340,000. Wasatch Advisors LP increased its stake in 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 in the last quarter. Turtle Creek Asset Management Inc. increased its stake in 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 worth $48,244,000 after purchasing an additional 1,569,823 shares in the last quarter. Paradigm Capital Management Inc. NY bought a new stake in The Pennant Group during the 2nd quarter worth approximately $51,833,000. Finally, Dimensional Fund Advisors LP raised its holdings 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 buying an additional 11,943 shares during the period. Institutional investors and hedge funds own 85.88% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of The Pennant Group from $45.00 to $46.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada upped their price target on shares of The Pennant Group from $44.00 to $48.00 and gave the company an "outperform" rating in a report on Friday. Truist Financial increased their price objective on shares of The Pennant Group from $42.00 to $48.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Weiss Ratings raised shares of The Pennant Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen lowered shares of The Pennant Group from a "buy" rating to a "hold" rating in a report on Saturday. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $48.00.

The Pennant Group Stock Performance

Shares of The Pennant Group stock opened at $36.26 on Tuesday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 36.63, a price-to-earnings-growth ratio of 2.87 and a beta of 1.33. The stock's 50-day moving average is $40.14 and its 200-day moving average is $35.73. The Pennant Group, Inc. has a one year low of $24.21 and a one year high of $44.24. 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 Pennant Group (NASDAQ:PNTG - Get Free Report) last posted its quarterly earnings data 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 10.43% and a net margin of 3.05%. The firm had revenue of $302.25 million for the quarter, compared to the consensus estimate of $299.34 million. Equities analysts predict that The Pennant Group, Inc. will post 1.18 earnings per share for the current fiscal year.

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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