Cornercap Investment Counsel Inc. Takes Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Cornercap Investment Counsel Inc. purchased a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 42,851 shares of the company's stock, valued at approximately $596,000. Cornercap Investment Counsel Inc. owned 0.14% of The Pennant Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PNTG. Envestnet Asset Management Inc. acquired a new position in shares of The Pennant Group during the first quarter valued at $293,000. Swiss National Bank grew its position in The Pennant Group by 8.1% in the 1st quarter. Swiss National Bank now owns 64,000 shares of the company's stock valued at $1,192,000 after buying an additional 4,800 shares in the last quarter. JPMorgan Chase & Co. increased its stake in The Pennant Group by 20.0% during the 1st quarter. JPMorgan Chase & Co. now owns 18,482 shares of the company's stock valued at $344,000 after buying an additional 3,084 shares during the period. Bank of New York Mellon Corp increased its stake in The Pennant Group by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 262,481 shares of the company's stock valued at $4,890,000 after buying an additional 13,814 shares during the period. Finally, US Bancorp DE raised its position in shares of The Pennant Group by 19.5% during the 1st quarter. US Bancorp DE now owns 12,249 shares of the company's stock worth $229,000 after buying an additional 1,999 shares in the last quarter. Institutional investors own 85.88% of the company's stock.

The Pennant Group Price Performance

The Pennant Group stock remained flat at $20.01 during mid-day trading on Wednesday. 126,338 shares of the company's stock traded hands, compared to its average volume of 140,091. The firm has a market capitalization of $608.10 million, a PE ratio of 46.07, a P/E/G ratio of 2.10 and a beta of 2.06. The Pennant Group, Inc. has a 12-month low of $10.31 and a 12-month high of $20.89. The firm's fifty day simple moving average is $18.47 and its two-hundred day simple moving average is $15.14. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.44.

The Pennant Group (NASDAQ:PNTG - Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). The Pennant Group had a return on equity of 12.78% and a net margin of 2.46%. The company had revenue of $145.95 million during the quarter, compared to analyst estimates of $136.79 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. Equities analysts expect that The Pennant Group, Inc. will post 0.73 earnings per share for the current year.

Analyst Ratings Changes

PNTG has been the topic of several recent analyst reports. Stephens raised The Pennant Group from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $14.00 to $18.00 in a report on Friday, January 5th. Oppenheimer raised their target price on The Pennant Group from $18.00 to $22.00 and gave the company an "outperform" rating in a research note on Friday, March 1st. Finally, Truist Financial lifted their target price on The Pennant Group from $16.00 to $21.00 and gave the stock a "hold" rating in a report on Friday, March 1st.

The Pennant Group Profile

The Pennant Group, Inc provides healthcare services in the United States. It operates in two segments, Home Health and Hospice Services, and Senior Living Services. The company offers home health services, including clinical services, such as nursing, speech, occupational and physical therapy, medical social work, and home health aide services; and hospice services comprising clinical care, education, and counseling services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.