Algert Global LLC Grows Stake in The Pennant Group, Inc. (NASDAQ:PNTG)

Algert Global LLC raised its position in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 10.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 97,551 shares of the company's stock after buying an additional 9,049 shares during the period. Algert Global LLC owned 0.28% of The Pennant Group worth $2,587,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of PNTG. Summit Investment Advisors Inc. increased its position in shares of The Pennant Group by 20.3% during 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 shares of 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 purchasing an additional 954 shares during the period. Arizona State Retirement System boosted its holdings in shares of The Pennant Group by 13.0% in the 4th quarter. Arizona State Retirement System now owns 9,773 shares of the company's stock worth $259,000 after buying an additional 1,121 shares during the last quarter. Hillsdale Investment Management Inc. grew its position in The Pennant Group by 0.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 190,882 shares of the company's stock valued at $5,062,000 after buying an additional 1,200 shares during the period. Finally, Principal Financial Group Inc. grew its position in The Pennant Group by 10.9% during the fourth quarter. Principal Financial Group Inc. now owns 14,000 shares of the company's stock valued at $371,000 after buying an additional 1,374 shares during the period. Institutional investors own 85.88% of the company's stock.

The Pennant Group Stock Performance

Shares of PNTG stock traded up $0.23 during trading on Friday, reaching $28.40. 421,200 shares of the company's stock traded hands, compared to its average volume of 226,343. The firm's 50-day moving average is $25.04 and its 200 day moving average is $27.37. The company has a market capitalization of $986.10 million, a P/E ratio of 41.77, a PEG ratio of 2.24 and a beta of 1.56. The Pennant Group, Inc. has a 1 year low of $21.18 and a 1 year high of $37.13. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58.

Analyst Upgrades and Downgrades

PNTG has been the topic of a number of research analyst reports. Stephens reiterated an "overweight" rating and issued a $38.00 target price on shares of The Pennant Group in a research note on Wednesday, April 2nd. Truist Financial reduced their price objective 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. Two equities 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 stock presently has an average rating of "Moderate Buy" and a consensus target price of $34.80.

The Pennant Group 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.