The Pennant Group, Inc. (NASDAQ:PNTG) Stock Holdings Lifted by 8 Knots Management LLC

8 Knots Management LLC increased its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,432,710 shares of the company's stock after purchasing an additional 35,975 shares during the quarter. The Pennant Group accounts for about 6.5% of 8 Knots Management LLC's investment portfolio, making the stock its 6th largest holding. 8 Knots Management LLC owned approximately 7.08% of The Pennant Group worth $64,515,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PNTG. Van Berkom & Associates Inc. boosted its stake in The Pennant Group by 2,635.6% during the 4th quarter. Van Berkom & Associates Inc. now owns 2,198,216 shares of the company's stock valued at $58,297,000 after purchasing an additional 2,117,859 shares during the period. FMR LLC increased its position in The Pennant Group by 54.5% in the 4th quarter. FMR LLC now owns 3,906,327 shares of the company's stock valued at $103,596,000 after acquiring an additional 1,377,815 shares during the period. Vanguard Group Inc. raised its stake in The Pennant Group by 11.0% during the 4th quarter. Vanguard Group Inc. now owns 2,261,564 shares of the company's stock valued at $59,977,000 after acquiring an additional 223,919 shares in the last quarter. Ranger Investment Management L.P. boosted its position in The Pennant Group by 147.3% during the 4th quarter. Ranger Investment Management L.P. now owns 195,210 shares of the company's stock worth $5,177,000 after acquiring an additional 116,285 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of The Pennant Group in the fourth quarter worth $2,570,000. Hedge funds and other institutional investors own 85.88% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PNTG. Stephens reiterated an "overweight" rating and issued a $38.00 target price on shares of The Pennant Group in a research report on Wednesday, April 2nd. Truist Financial decreased their price objective on shares of The Pennant Group from $32.00 to $28.00 and set a "hold" rating for the company in a report on Friday, March 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, The Pennant Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.80.

The Pennant Group Price Performance

Shares of PNTG traded up $1.27 during mid-day trading on Friday, hitting $26.69. The company's stock had a trading volume of 167,163 shares, compared to its average volume of 225,108. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50-day moving average price of $24.66 and a 200 day moving average price of $27.59. The Pennant Group, Inc. has a fifty-two week low of $20.78 and a fifty-two week high of $37.13. The stock has a market capitalization of $926.73 million, a price-to-earnings ratio of 39.25, a PEG ratio of 2.24 and a beta of 1.56.

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.