Mackenzie Financial Corp Makes New $155,000 Investment in The Pennant Group, Inc. (NASDAQ:PNTG)

Mackenzie Financial Corp bought a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 11,147 shares of the company’s stock, valued at approximately $155,000.

Several other institutional investors and hedge funds have also bought and sold shares of PNTG. Paradigm Capital Management Inc. NY raised its stake in 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 acquiring an additional 528,612 shares during the period. Kent Lake Capital LLC lifted its stake in shares of The Pennant Group by 34.6% during the 3rd quarter. Kent Lake Capital LLC now owns 583,631 shares of the company’s stock valued at $6,496,000 after buying an additional 150,187 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in The Pennant Group by 16.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 397,900 shares of the company’s stock worth $4,429,000 after buying an additional 56,893 shares during the period. GSA Capital Partners LLP increased its stake in The Pennant Group by 71.2% in the 3rd quarter. GSA Capital Partners LLP now owns 118,101 shares of the company’s stock worth $1,314,000 after buying an additional 49,114 shares in the last quarter. Finally, Boston Partners increased its stake in The Pennant Group by 26.0% in the 3rd quarter. Boston Partners now owns 212,897 shares of the company’s stock worth $2,369,000 after buying an additional 43,978 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 a number of recent analyst reports. Oppenheimer upped their price objective on The Pennant Group from $18.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Stephens upgraded shares of The Pennant Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $14.00 to $18.00 in a research report on Friday, January 5th. Finally, Truist Financial boosted their target price 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 Stock Performance

NASDAQ PNTG opened at $20.69 on Tuesday. The stock has a market capitalization of $620.97 million, a PE ratio of 47.02, a P/E/G ratio of 2.19 and a beta of 2.06. The Pennant Group, Inc. has a 1-year low of $10.31 and a 1-year high of $21.45. The business has a 50 day simple moving average of $19.33 and a two-hundred day simple moving average of $15.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.12.

The Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $136.79 million. During the same quarter in the prior year, the firm posted $0.15 EPS. On average, research analysts predict that The Pennant Group, Inc. will post 0.73 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.