Algert Global LLC Purchases 38,890 Shares of The Pennant Group, Inc. $PNTG

Key Points

• Algert Global LLC increased its stake in The Pennant Group by 39.9% in Q1, owning 136,441 shares worth approximately $3.43 million after acquiring an additional 38,890 shares during the quarter.
• Investment activity has surged as several large investors, including American Century Companies Inc. and Nuveen LLC, have recently made adjustments to their positions in The Pennant Group, highlighting strong institutional interest with 85.88% of the stock held by institutional investors.
• Analysts have mixed sentiments about The Pennant Group's stock, with a consensus rating of "Moderate Buy" and an average price target of $33.40, despite some lowering of their price objectives by other firms.

Algert Global LLC increased its stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 39.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 136,441 shares of the company's stock after purchasing an additional 38,890 shares during the quarter. Algert Global LLC owned about 0.39% of The Pennant Group worth $3,431,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PNTG. LPL Financial LLC purchased a new position in shares of The Pennant Group in the fourth quarter valued at $225,000. Wells Fargo & Company MN grew its position in shares of The Pennant Group by 63.7% in the fourth quarter. Wells Fargo & Company MN now owns 15,920 shares of the company's stock valued at $422,000 after purchasing an additional 6,197 shares in the last quarter. Legal & General Group Plc grew its position in shares of The Pennant Group by 5.4% in the fourth quarter. Legal & General Group Plc now owns 50,280 shares of the company's stock valued at $1,333,000 after purchasing an additional 2,593 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of The Pennant Group in the fourth quarter valued at $2,570,000. Finally, Summit Investment Advisors Inc. grew its position 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 purchasing an additional 575 shares in the last quarter. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

The Pennant Group Price Performance

PNTG stock traded down $0.2180 during mid-day trading on Monday, hitting $24.9520. 45,704 shares of the stock were exchanged, compared to its average volume of 248,626. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.21 and a quick ratio of 1.21. The business has a fifty day moving average price of $25.40 and a 200 day moving average price of $25.87. The Pennant Group, Inc. has a 12 month low of $21.18 and a 12 month high of $37.13. The stock has a market capitalization of $862.34 million, a price-to-earnings ratio of 32.03, a PEG ratio of 2.07 and a beta of 1.48.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PNTG. Wall Street Zen upgraded The Pennant Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Stephens reissued an "overweight" rating and set a $35.00 price objective on shares of The Pennant Group in a research note on Tuesday, June 10th. Truist Financial dropped their price objective on The Pennant Group from $32.00 to $28.00 and set a "hold" rating for the company in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company dropped their price objective on The Pennant Group from $31.00 to $29.00 and set an "equal weight" rating for the company in a research note on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, The Pennant Group currently has an average rating of "Moderate Buy" and a consensus target price of $33.40.

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.