Oppenheimer Asset Management Inc. Buys 2,549 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Oppenheimer Asset Management Inc. boosted its stake in The Pennant Group, Inc. (NASDAQ:PNTG) by 17.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,486 shares of the company’s stock after purchasing an additional 2,549 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.06% of The Pennant Group worth $406,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. 8 Knots Management LLC increased its stake in shares of The Pennant Group by 34.0% in the 1st quarter. 8 Knots Management LLC now owns 2,462,553 shares of the company’s stock valued at $48,340,000 after acquiring an additional 625,061 shares during the last quarter. Vanguard Group Inc. grew its holdings in The Pennant Group by 4.3% during the first quarter. Vanguard Group Inc. now owns 1,859,679 shares of the company’s stock valued at $36,505,000 after purchasing an additional 77,052 shares during the period. Wasatch Advisors LP increased its stake in The Pennant Group by 3.3% in the fourth quarter. Wasatch Advisors LP now owns 1,465,754 shares of the company’s stock valued at $20,403,000 after purchasing an additional 46,484 shares in the last quarter. Hillsdale Investment Management Inc. raised its holdings in The Pennant Group by 8.2% in the first quarter. Hillsdale Investment Management Inc. now owns 352,292 shares of the company’s stock worth $6,915,000 after purchasing an additional 26,670 shares during the period. Finally, Boone Capital Management LLC bought a new position in shares of The Pennant Group during the fourth quarter worth $4,589,000. Institutional investors and hedge funds own 85.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Oppenheimer upped their price objective on shares of The Pennant Group from $28.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Truist Financial increased their price target on The Pennant Group from $28.00 to $34.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Stephens boosted their price objective on The Pennant Group from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th.

The Pennant Group Trading Up 0.2 %

NASDAQ PNTG opened at $35.68 on Friday. The Pennant Group, Inc. has a 52 week low of $10.31 and a 52 week high of $36.33. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s 50 day moving average price is $31.37 and its two-hundred day moving average price is $25.08. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 66.07, a PEG ratio of 3.58 and a beta of 2.01.

The Pennant Group (NASDAQ:PNTG) last released its earnings results on Tuesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The Pennant Group had a return on equity of 13.74% and a net margin of 3.16%. The business had revenue of $168.75 million for the quarter, compared to the consensus estimate of $156.71 million. As a group, analysts anticipate that The Pennant Group, Inc. will post 0.75 earnings per share for the current fiscal year.

The Pennant Group Company 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.