Renaissance Technologies LLC Raises Stock Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Renaissance Technologies LLC increased its stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 17.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,300 shares of the company's stock after acquiring an additional 39,000 shares during the period. Renaissance Technologies LLC owned approximately 0.89% of The Pennant Group worth $6,199,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNTG. 8 Knots Management LLC acquired a new stake in The Pennant Group in the 4th quarter valued at about $25,578,000. Boone Capital Management LLC purchased a new position in The Pennant Group in the fourth quarter worth approximately $4,589,000. Peregrine Capital Management LLC acquired a new position in shares of The Pennant Group during the first quarter worth $6,403,000. Allianz Asset Management GmbH purchased a new position in The Pennant Group in the fourth quarter valued at $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 valued at $2,670,000 after buying an additional 118,581 shares in the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PNTG has been the topic of several research analyst reports. Oppenheimer raised their target price 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. Truist Financial boosted their price objective on shares of The Pennant Group from $28.00 to $34.00 and gave the stock a "hold" rating in a research report on Thursday, August 15th. Finally, Stephens upped their target price on shares of The Pennant Group from $28.00 to $32.00 and gave the company an "overweight" rating in a report on Thursday, August 8th.

The Pennant Group Stock Performance

PNTG traded down $0.29 during trading on Friday, hitting $34.39. 195,726 shares of the stock were exchanged, compared to its average volume of 173,662. The firm has a market capitalization of $1.03 billion, a P/E ratio of 63.61, a PEG ratio of 3.69 and a beta of 2.01. The Pennant Group, Inc. has a 1-year low of $10.31 and a 1-year high of $37.13. The stock has a fifty day moving average price of $32.08 and a two-hundred day moving average price of $25.51. 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 (NASDAQ:PNTG - Get Free Report) 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 business had revenue of $168.75 million for the quarter, compared to analyst estimates 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, sell-side analysts predict that The Pennant Group, Inc. will post 0.75 earnings per share for the current 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.