Magnetar Financial LLC Makes New Investment in The Pennant Group, Inc. $PNTG

Key Points

• Magnetar Financial LLC acquired 12,576 shares of The Pennant Group, valued at approximately $316,000, during the first quarter.
• Institutional investors now own 85.88% of The Pennant Group's stock, indicating significant institutional interest in the company.
• Wall Street analysts have varying ratings for The Pennant Group, with a consensus of "Moderate Buy" and a target price of $33.40.

Magnetar Financial LLC purchased a new stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 12,576 shares of the company's stock, valued at approximately $316,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Versor Investments LP boosted its stake in The Pennant Group by 6.2% in the first quarter. Versor Investments LP now owns 12,000 shares of the company's stock valued at $302,000 after acquiring an additional 700 shares during the period. NBC Securities Inc. acquired a new stake in shares of The Pennant Group during the 1st quarter worth approximately $25,000. Turtle Creek Asset Management Inc. lifted its holdings in shares of The Pennant Group by 150.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,500 shares of the company's stock worth $66,000 after purchasing an additional 1,500 shares during the last quarter. State of Wyoming boosted its position in The Pennant Group by 41.3% during the 1st quarter. State of Wyoming now owns 6,170 shares of the company's stock valued at $155,000 after purchasing an additional 1,803 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in The Pennant Group by 18.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,537 shares of the company's stock worth $492,000 after buying an additional 2,890 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company's stock.

The Pennant Group Price Performance

Shares of NASDAQ:PNTG traded up $0.21 during trading on Friday, reaching $24.29. The company had a trading volume of 246,192 shares, compared to its average volume of 374,411. The firm's fifty day moving average is $24.54 and its 200 day moving average is $25.72. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market capitalization of $839.46 million, a PE ratio of 31.14, a price-to-earnings-growth ratio of 2.00 and a beta of 1.31. The Pennant Group, Inc. has a twelve month low of $21.18 and a twelve month high of $37.13.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PNTG shares. Wells Fargo & Company cut their target price on The Pennant Group from $31.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 14th. Truist Financial cut their price objective on shares of The Pennant Group from $32.00 to $28.00 and set a "hold" rating on the stock in a research report on Wednesday, July 16th. Stephens reissued an "overweight" rating and set a $40.00 target price on shares of The Pennant Group in a research note on Thursday. Finally, Wall Street Zen cut shares of The Pennant Group from a "buy" rating to a "hold" rating in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, The Pennant Group currently has an average rating of "Moderate Buy" and an average target price of $34.40.

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.