Cornercap Investment Counsel Inc. Acquires Shares of 42,851 The Pennant Group, Inc. (NASDAQ:PNTG)

Cornercap Investment Counsel Inc. bought a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 42,851 shares of the company’s stock, valued at approximately $596,000. Cornercap Investment Counsel Inc. owned approximately 0.14% of The Pennant Group at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PNTG. Envestnet Asset Management Inc. purchased a new position in shares of The Pennant Group during the 1st quarter valued at approximately $293,000. Swiss National Bank increased its holdings in shares of The Pennant Group by 8.1% during the 1st quarter. Swiss National Bank now owns 64,000 shares of the company’s stock valued at $1,192,000 after purchasing an additional 4,800 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of The Pennant Group by 20.0% during the 1st quarter. JPMorgan Chase & Co. now owns 18,482 shares of the company’s stock valued at $344,000 after purchasing an additional 3,084 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of The Pennant Group by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 262,481 shares of the company’s stock valued at $4,890,000 after purchasing an additional 13,814 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of The Pennant Group by 19.5% during the 1st quarter. US Bancorp DE now owns 12,249 shares of the company’s stock valued at $229,000 after purchasing an additional 1,999 shares in the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PNTG has been the subject of several recent research reports. Stephens raised shares of The Pennant Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $14.00 to $18.00 in a report on Friday, January 5th. Oppenheimer boosted their price target 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. Finally, Truist Financial boosted their price target on shares of The Pennant Group from $16.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, March 1st.

The Pennant Group Price Performance

Shares of NASDAQ PNTG opened at $20.01 on Wednesday. The firm has a market cap of $608.10 million, a PE ratio of 45.48, a PEG ratio of 2.10 and a beta of 2.06. The firm has a fifty day moving average of $18.47 and a 200 day moving average of $15.14. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.12 and a current ratio of 1.12. The Pennant Group, Inc. has a one year low of $10.31 and a one year high of $20.89.

The Pennant Group (NASDAQ:PNTG) last released its earnings results on Wednesday, February 28th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The Pennant Group had a return on equity of 12.78% and a net margin of 2.46%. The business had revenue of $145.95 million for the quarter, compared to analysts’ expectations of $136.79 million. During the same period in the previous year, the company earned $0.15 EPS. As a group, research analysts predict that The Pennant Group, Inc. will post 0.73 EPS for the current fiscal year.

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.