Rhenman & Partners Asset Management AB Takes $10.06 Million Position in The Pennant Group, Inc. $PNTG

Rhenman & Partners Asset Management AB purchased a new stake in The Pennant Group, Inc. (NASDAQ:PNTG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 357,346 shares of the company’s stock, valued at approximately $10,059,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Quadrant Capital Group LLC raised its stake in The Pennant Group by 608.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,182 shares of the company’s stock valued at $90,000 after buying an additional 2,733 shares in the last quarter. Wasatch Advisors LP raised its stake in The Pennant Group by 10.5% in the fourth quarter. Wasatch Advisors LP now owns 583,460 shares of the company’s stock valued at $16,424,000 after buying an additional 55,213 shares in the last quarter. Brooklyn Investment Group acquired a new stake in The Pennant Group in the fourth quarter valued at $285,000. Integrated Quantitative Investments LLC raised its stake in The Pennant Group by 36.9% in the fourth quarter. Integrated Quantitative Investments LLC now owns 13,550 shares of the company’s stock valued at $381,000 after buying an additional 3,650 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its stake in The Pennant Group by 57.0% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 37,172 shares of the company’s stock valued at $1,046,000 after buying an additional 13,500 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.

The Pennant Group Stock Up 0.2%

PNTG opened at $32.85 on Friday. The business’s 50-day simple moving average is $32.27 and its 200-day simple moving average is $30.97. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.19 and a current ratio of 1.19. The Pennant Group, Inc. has a one year low of $21.73 and a one year high of $37.54. The stock has a market capitalization of $1.14 billion, a P/E ratio of 38.65, a price-to-earnings-growth ratio of 2.20 and a beta of 1.29.

The Pennant Group (NASDAQ:PNTG) last posted its earnings results on Wednesday, May 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $280.75 million. Analysts anticipate that The Pennant Group, Inc. will post 1.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PNTG. Weiss Ratings upgraded The Pennant Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. Wells Fargo & Company raised their price target on The Pennant Group from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Royal Bank Of Canada raised their price target on The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Truist Financial raised their price target on The Pennant Group from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Wall Street Zen cut The Pennant Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, The Pennant Group currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

About The Pennant Group

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.