Federated Hermes Inc. Boosts Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

Federated Hermes Inc. grew its position in The Pennant Group, Inc. (NASDAQ:PNTG) by 600.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,045 shares of the company’s stock after purchasing an additional 46,324 shares during the quarter. Federated Hermes Inc. owned about 0.18% of The Pennant Group worth $1,253,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PNTG. Allianz Asset Management GmbH purchased a new position in The Pennant Group during the 4th quarter worth $2,351,000. Keeley Teton Advisors LLC purchased a new stake in shares of The Pennant Group during the fourth quarter worth about $603,000. Wasatch Advisors LP increased its holdings in shares of The Pennant Group by 3.3% during the fourth quarter. Wasatch Advisors LP now owns 1,465,754 shares of the company’s stock valued at $20,403,000 after acquiring an additional 46,484 shares in the last quarter. Sei Investments Co. raised its position in shares of The Pennant Group by 679.7% in the 1st quarter. Sei Investments Co. now owns 136,026 shares of the company’s stock valued at $2,670,000 after purchasing an additional 118,581 shares during the last quarter. Finally, 8 Knots Management LLC acquired a new stake in The Pennant Group in the 4th quarter worth approximately $25,578,000. 85.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

The Pennant Group Stock Up 0.2 %

NASDAQ:PNTG opened at $35.68 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.12 and a quick ratio of 1.12. The company’s fifty day moving average price is $31.37 and its 200-day moving average price is $25.08. The Pennant Group, Inc. has a 1-year low of $10.31 and a 1-year high of $36.33. The firm has a market capitalization of $1.08 billion, a P/E ratio of 66.07, a PEG ratio of 3.58 and a beta of 2.01.

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

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.