Rice Hall James & Associates LLC Trims Stock Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Rice Hall James & Associates LLC decreased its position in The Pennant Group, Inc. (NASDAQ:PNTG) by 19.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 192,949 shares of the company’s stock after selling 47,834 shares during the period. Rice Hall James & Associates LLC owned 0.64% of The Pennant Group worth $4,474,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PNTG. 8 Knots Management LLC purchased a new stake in shares of The Pennant Group in the 4th quarter worth $25,578,000. Boone Capital Management LLC purchased a new stake in shares of The Pennant Group in the 4th quarter worth approximately $4,589,000. Peregrine Capital Management LLC bought a new position in shares of The Pennant Group during the first quarter valued at approximately $6,403,000. Allianz Asset Management GmbH purchased a new position in The Pennant Group during the fourth quarter valued at approximately $2,351,000. Finally, Sei Investments Co. raised its stake in The Pennant Group by 679.7% in the first quarter. Sei Investments Co. now owns 136,026 shares of the company’s stock worth $2,670,000 after buying an additional 118,581 shares in the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PNTG. Stephens increased their target price 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. Oppenheimer boosted their target price on shares of 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 increased their price objective on The Pennant Group from $28.00 to $34.00 and gave the company a “hold” rating in a report on Thursday, August 15th.

The Pennant Group Stock Performance

NASDAQ PNTG opened at $32.13 on Wednesday. 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 Pennant Group, Inc. has a 1-year low of $10.31 and a 1-year high of $35.57. The company has a market cap of $965.38 million, a PE ratio of 59.50, a price-to-earnings-growth ratio of 3.32 and a beta of 2.01. The stock’s 50 day simple moving average is $29.75 and its 200-day simple moving average is $24.18.

The Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 earnings per share 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 company had revenue of $168.75 million for the quarter, compared to analyst estimates of $156.71 million. As a group, equities research analysts anticipate that The Pennant Group, Inc. will post 0.74 EPS for the current fiscal year.

About The Pennant Group

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.