CenterBook Partners LP Invests $307,000 in The Pennant Group, Inc. (NASDAQ:PNTG)

CenterBook Partners LP bought a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,558 shares of the company's stock, valued at approximately $307,000.

Several other institutional investors and hedge funds also recently modified their holdings of PNTG. Franklin Resources Inc. raised its position in shares of The Pennant Group by 26.6% during the 3rd quarter. Franklin Resources Inc. now owns 18,347 shares of the company's stock worth $638,000 after purchasing an additional 3,859 shares during the last quarter. JPMorgan Chase & Co. increased its position in The Pennant Group by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company's stock worth $7,351,000 after buying an additional 83,664 shares in the last quarter. Barclays PLC raised its holdings in shares of The Pennant Group by 375.0% in the third quarter. Barclays PLC now owns 49,101 shares of the company's stock worth $1,753,000 after acquiring an additional 38,763 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of The Pennant Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 682,132 shares of the company's stock valued at $24,357,000 after acquiring an additional 2,963 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of The Pennant Group by 14.5% during the third quarter. Principal Financial Group Inc. now owns 12,626 shares of the company's stock valued at $451,000 after acquiring an additional 1,597 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Truist Financial cut 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 research note on Friday, March 7th. Wells Fargo & Company assumed coverage on shares of The Pennant Group in a research report on Thursday, December 19th. They issued an "equal weight" rating and a $33.00 price objective for the company. Finally, Stephens restated an "overweight" rating and set a $38.00 target price on shares of The Pennant Group in a research report 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $34.80.

The Pennant Group Trading Down 0.3 %

The Pennant Group stock traded down $0.07 during trading on Friday, reaching $26.13. The company had a trading volume of 224,261 shares, compared to its average volume of 225,013. The Pennant Group, Inc. has a 12-month low of $19.64 and a 12-month 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's 50 day moving average price is $24.76 and its two-hundred day moving average price is $28.25. The firm has a market capitalization of $907.29 million, a price-to-earnings ratio of 38.43, a PEG ratio of 2.24 and a beta of 1.73.

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.