8 Knots Management LLC Increases Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

8 Knots Management LLC grew its position in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,432,710 shares of the company's stock after buying an additional 35,975 shares during the period. The Pennant Group accounts for approximately 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 reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northern Trust Corp grew its holdings in The Pennant Group by 22.5% during the fourth quarter. Northern Trust Corp now owns 424,880 shares of the company's stock valued at $11,268,000 after purchasing an additional 77,980 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in The Pennant Group during the fourth quarter worth $122,000. Quarry LP lifted its stake in The Pennant Group by 166.8% in the fourth quarter. Quarry LP now owns 2,705 shares of the company's stock valued at $72,000 after acquiring an additional 1,691 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in shares of The Pennant Group during the 4th quarter worth about $374,000. Finally, Nebula Research & Development LLC acquired a new position in shares of The Pennant Group in the fourth quarter valued at $338,000. Institutional investors own 85.88% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on PNTG shares. Truist Financial reduced their target price 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. Stephens reaffirmed an "overweight" rating and issued a $38.00 target price on shares of The Pennant Group in a research report on Wednesday, April 2nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, The Pennant Group has a consensus rating of "Moderate Buy" and an average target price of $34.80.

The Pennant Group Stock Down 0.1 %

Shares of PNTG opened at $25.55 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $887.15 million, a PE ratio of 37.57, a P/E/G ratio of 2.24 and a beta of 1.73. The firm's 50 day moving average is $24.62 and its 200-day moving average is $27.80. The Pennant Group, Inc. has a 12 month low of $20.23 and a 12 month high of $37.13.

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.

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