8 Knots Management LLC Acquires Shares of 1,837,492 The Pennant Group, Inc. (NASDAQ:PNTG)

8 Knots Management LLC acquired a new stake in The Pennant Group, Inc. (NASDAQ:PNTG) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,837,492 shares of the company’s stock, valued at approximately $25,578,000. The Pennant Group accounts for 4.8% of 8 Knots Management LLC’s holdings, making the stock its 9th biggest holding. 8 Knots Management LLC owned 6.14% of The Pennant Group at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PNTG. Vanguard Group Inc. increased its stake in shares of The Pennant Group by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,693,196 shares of the company’s stock worth $18,845,000 after purchasing an additional 14,138 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of The Pennant Group by 3.3% during the 4th quarter. Wasatch Advisors LP now owns 1,465,754 shares of the company’s stock worth $20,403,000 after purchasing an additional 46,484 shares during the last quarter. Paradigm Capital Management Inc. NY increased its stake in shares of The Pennant Group by 79.1% during the 3rd quarter. Paradigm Capital Management Inc. NY now owns 1,196,500 shares of the company’s stock worth $13,317,000 after purchasing an additional 528,612 shares during the last quarter. Crewe Advisors LLC increased its stake in shares of The Pennant Group by 0.7% during the 4th quarter. Crewe Advisors LLC now owns 1,108,104 shares of the company’s stock worth $15,425,000 after purchasing an additional 7,797 shares during the last quarter. Finally, Kent Lake Capital LLC increased its stake in shares of The Pennant Group by 5.4% during the 4th quarter. Kent Lake Capital LLC now owns 615,000 shares of the company’s stock worth $8,561,000 after purchasing an additional 31,369 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

The Pennant Group Price Performance

Shares of NASDAQ:PNTG traded up $0.33 during midday trading on Tuesday, reaching $23.19. 136,686 shares of the company’s stock were exchanged, compared to its average volume of 156,185. The company’s 50 day simple moving average is $21.83 and its two-hundred day simple moving average is $18.10. The firm has a market capitalization of $696.86 million, a PE ratio of 42.94, a price-to-earnings-growth ratio of 2.41 and a beta of 2.02. The Pennant Group, Inc. has a 12 month low of $10.31 and a 12 month high of $24.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.16.

The Pennant Group (NASDAQ:PNTG) last announced its earnings results on Monday, May 6th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15. The business had revenue of $156.92 million during the quarter, compared to analysts’ expectations of $146.01 million. The Pennant Group had a net margin of 2.86% and a return on equity of 13.42%. Equities research analysts expect that The Pennant Group, Inc. will post 0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on PNTG shares. Oppenheimer upped their price objective on shares of The Pennant Group from $18.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Stephens reaffirmed an “overweight” rating and set a $23.00 price objective on shares of The Pennant Group in a report on Tuesday, May 7th. Truist Financial upped their price objective on shares of The Pennant Group from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, May 15th. Finally, Royal Bank of Canada upped their price objective on shares of The Pennant Group from $21.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th.

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.