Adage Capital Partners GP L.L.C. Buys Shares of 74,000 The Pennant Group, Inc. (NASDAQ:PNTG)

Adage Capital Partners GP L.L.C. purchased a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 74,000 shares of the company's stock, valued at approximately $1,962,000. Adage Capital Partners GP L.L.C. owned about 0.22% of The Pennant Group as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PNTG. Summit Investment Advisors Inc. raised its stake in shares of The Pennant Group by 20.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company's stock valued at $91,000 after acquiring an additional 575 shares during the last quarter. Corebridge Financial Inc. raised its stake in The Pennant Group by 6.2% during the 4th quarter. Corebridge Financial Inc. now owns 16,227 shares of the company's stock worth $430,000 after buying an additional 954 shares during the period. Arizona State Retirement System raised its position in shares of The Pennant Group by 13.0% during the fourth quarter. Arizona State Retirement System now owns 9,773 shares of the company's stock worth $259,000 after purchasing an additional 1,121 shares during the period. Hillsdale Investment Management Inc. increased its stake in The Pennant Group by 0.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 190,882 shares of the company's stock worth $5,062,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of The Pennant Group by 10.9% during the fourth quarter. Principal Financial Group Inc. now owns 14,000 shares of the company's stock worth $371,000 after acquiring an additional 1,374 shares during the period. Institutional investors and hedge funds own 85.88% of the company's stock.

The Pennant Group Price Performance

NASDAQ PNTG remained flat at $26.69 on Monday. The company's stock had a trading volume of 7,180 shares, compared to its average volume of 224,246. The Pennant Group, Inc. has a 52-week low of $20.78 and a 52-week high of $37.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $926.73 million, a P/E ratio of 39.25, a P/E/G ratio of 2.24 and a beta of 1.56. The stock's fifty day moving average is $24.66 and its two-hundred day moving average is $27.54.

Analyst Ratings Changes

A number of research firms have issued reports on PNTG. Truist Financial lowered their target price on 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 restated an "overweight" rating and set a $38.00 price objective on shares of The Pennant Group in a research note on Wednesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, The Pennant Group has an average rating of "Moderate Buy" and a consensus target price of $34.80.

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.