Creative Planning Purchases 2,510 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Creative Planning grew its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 13.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,662 shares of the company’s stock after acquiring an additional 2,510 shares during the period. Creative Planning owned about 0.07% of The Pennant Group worth $773,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its stake in shares of The Pennant Group by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 11,227 shares of the company’s stock valued at $260,000 after acquiring an additional 471 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of The Pennant Group by 9.9% during the second quarter. Principal Financial Group Inc. now owns 11,029 shares of the company’s stock valued at $256,000 after acquiring an additional 991 shares in the last quarter. Covestor Ltd raised its stake in shares of The Pennant Group by 3,805.6% during the first quarter. Covestor Ltd now owns 1,406 shares of the company’s stock valued at $28,000 after acquiring an additional 1,370 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of The Pennant Group by 17.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 17,486 shares of the company’s stock valued at $406,000 after acquiring an additional 2,549 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in shares of The Pennant Group during the third quarter valued at approximately $121,000. Institutional investors own 85.88% of the company’s stock.

The Pennant Group Stock Performance

Shares of PNTG stock opened at $32.49 on Friday. The firm has a market cap of $984.77 million, a price-to-earnings ratio of 51.57, a PEG ratio of 3.28 and a beta of 2.02. The company’s 50 day moving average is $33.94 and its 200 day moving average is $28.08. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.48. The Pennant Group, Inc. has a 52-week low of $10.91 and a 52-week high of $37.13.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Truist Financial lifted their price target on shares of The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Royal Bank of Canada lifted their price objective on shares of The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Stephens reissued an “overweight” rating and set a $40.00 price objective on shares of The Pennant Group in a report on Wednesday, October 9th. Finally, Oppenheimer lifted their price objective on shares of The Pennant Group from $28.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, August 8th.

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.