Allianz Asset Management GmbH Reduces Stake in The Pennant Group, Inc. $PNTG

Allianz Asset Management GmbH lowered its position in The Pennant Group, Inc. (NASDAQ:PNTG) by 53.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,555 shares of the company’s stock after selling 67,093 shares during the period. Allianz Asset Management GmbH’s holdings in The Pennant Group were worth $1,502,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in The Pennant Group by 174.5% in the first quarter. Royal Bank of Canada now owns 27,290 shares of the company’s stock valued at $687,000 after acquiring an additional 17,347 shares during the period. AQR Capital Management LLC increased its position in shares of The Pennant Group by 32.6% during the 1st quarter. AQR Capital Management LLC now owns 10,255 shares of the company’s stock valued at $258,000 after purchasing an additional 2,524 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of The Pennant Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company’s stock valued at $488,000 after purchasing an additional 857 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of The Pennant Group by 4.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 81,392 shares of the company’s stock worth $2,047,000 after purchasing an additional 3,507 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of The Pennant Group in the 1st quarter worth approximately $297,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PNTG has been the subject of several recent research reports. William Blair began coverage on shares of The Pennant Group in a research report on Monday, December 8th. They set an “outperform” rating for the company. Jefferies Financial Group assumed coverage on shares of The Pennant Group in a research note on Friday, October 24th. They set a “buy” rating and a $30.00 price target on the stock. Truist Financial raised shares of The Pennant Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $28.00 to $34.00 in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Pennant Group in a report on Monday, December 29th. Finally, Zacks Research downgraded The Pennant Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.20.

The Pennant Group Trading Down 1.4%

Shares of The Pennant Group stock opened at $31.16 on Friday. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 2.20 and a beta of 1.27. The business has a 50-day moving average price of $29.24 and a 200-day moving average price of $26.50. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.08. The Pennant Group, Inc. has a twelve month low of $21.18 and a twelve month high of $32.29.

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.