Jupiter Asset Management Ltd. cut its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 12.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 198,418 shares of the company’s stock after selling 29,221 shares during the period. Jupiter Asset Management Ltd. owned 0.69% of The Pennant Group worth $9,058,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of PNTG. Crewe Advisors LLC increased its position in shares of The Pennant Group by 744.0% during the first quarter. Crewe Advisors LLC now owns 1,209,487 shares of the company’s stock worth $55,395,000 after purchasing an additional 1,066,187 shares in the last quarter. Norges Bank acquired a new position in shares of The Pennant Group during the fourth quarter worth $16,546,000. Wasatch Advisors Inc. increased its position in shares of The Pennant Group by 6.0% during the first quarter. Wasatch Advisors Inc. now owns 3,737,150 shares of the company’s stock worth $171,162,000 after purchasing an additional 210,964 shares in the last quarter. BlackRock Inc. increased its position in shares of The Pennant Group by 4.2% during the fourth quarter. BlackRock Inc. now owns 3,871,283 shares of the company’s stock worth $224,767,000 after purchasing an additional 155,969 shares in the last quarter. Finally, Riverbridge Partners LLC increased its position in shares of The Pennant Group by 20.8% in the 1st quarter. Riverbridge Partners LLC now owns 789,457 shares of the company’s stock valued at $36,157,000 after acquiring an additional 135,871 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.
PNTG has been the topic of several research reports. Royal Bank of Canada raised The Pennant Group from a “sector perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Thursday. TheStreet downgraded The Pennant Group from a “c-” rating to a “d+” rating in a research report on Monday, April 5th. Finally, Zacks Investment Research downgraded The Pennant Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The Pennant Group presently has a consensus rating of “Hold” and a consensus price target of $50.40.
The Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings results on Thursday, May 6th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). The company had revenue of $105.66 million for the quarter, compared to analyst estimates of $104.30 million. The Pennant Group had a return on equity of 22.72% and a net margin of 3.39%. As a group, analysts predict that The Pennant Group, Inc. will post 0.83 earnings per share for the current fiscal year.
The Pennant Group Company Profile
The Pennant Group, Inc provides healthcare services in Arizona, California, Colorado, Idaho, Iowa, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin, and Wyoming. 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.
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