Peregrine Capital Management LLC Trims Stock Position in The Pennant Group, Inc. $PNTG

Peregrine Capital Management LLC reduced its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 8.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,240 shares of the company’s stock after selling 18,165 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.54% of The Pennant Group worth $5,738,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PNTG. Caitong International Asset Management Co. Ltd boosted its stake in shares of The Pennant Group by 154.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,182 shares of the company’s stock valued at $33,000 after purchasing an additional 717 shares in the last quarter. Quarry LP bought a new position in The Pennant Group in the third quarter worth about $37,000. CIBC Private Wealth Group LLC raised its stake in The Pennant Group by 651.8% in the third quarter. CIBC Private Wealth Group LLC now owns 3,398 shares of the company’s stock worth $86,000 after buying an additional 2,946 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in The Pennant Group by 608.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,182 shares of the company’s stock worth $90,000 after buying an additional 2,733 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in The Pennant Group by 161.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,987 shares of the company’s stock worth $119,000 after buying an additional 2,463 shares during the period. 85.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PNTG. Wells Fargo & Company lifted their price objective on The Pennant Group from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings cut The Pennant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. Royal Bank Of Canada raised their target price on The Pennant Group from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Wall Street Zen upgraded The Pennant Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Finally, Truist Financial upped their price target on The Pennant Group from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.00.

The Pennant Group Price Performance

PNTG opened at $37.36 on Thursday. The firm has a market cap of $1.30 billion, a PE ratio of 43.95, a P/E/G ratio of 2.48 and a beta of 1.25. The stock has a 50-day moving average price of $33.41 and a 200-day moving average price of $31.57. The Pennant Group, Inc. has a 1 year low of $21.73 and a 1 year high of $38.54. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.19 and a quick ratio of 1.19.

The Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $285.36 million for the quarter, compared to the consensus estimate of $280.75 million. The Pennant Group had a net margin of 2.96% and a return on equity of 10.07%. Sell-side analysts predict that The Pennant Group, Inc. will post 1.14 earnings per share for the current fiscal year.

The Pennant Group Company Profile

The Pennant Group (NASDAQ: PNTG) is a publicly traded holding company that provides specialized services to the asset management industry. Through its operating subsidiaries, the company delivers outsourced fund administration, securities lending, prime brokerage, and capital markets solutions designed to support hedge funds, private equity firms, mutual funds and other institutional investors. By leveraging a combination of technology platforms and industry expertise, The Pennant Group helps clients streamline middle- and back-office processes, enhance operational efficiency and manage regulatory requirements.

Key service offerings include fund accounting and reporting, trade settlement and reconciliation, risk monitoring, securities lending programs and execution support across a range of asset classes.