Algert Global LLC Boosts Holdings in 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 grew its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 39.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,441 shares of the company's stock after purchasing an additional 38,890 shares during the period. Algert Global LLC owned approximately 0.39% of The Pennant Group worth $3,431,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PNTG. LPL Financial LLC bought a new stake in shares of The Pennant Group in the fourth quarter worth about $225,000. Wells Fargo & Company MN increased its holdings 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 worth $422,000 after purchasing an additional 6,197 shares during the last quarter. Legal & General Group Plc increased its holdings 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 worth $1,333,000 after purchasing an additional 2,593 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of The Pennant Group in the fourth quarter worth about $2,570,000. Finally, Summit Investment Advisors Inc. increased its holdings 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 worth $91,000 after purchasing an additional 575 shares during the last quarter. 85.88% of the stock is owned by institutional investors.

The Pennant Group Stock Performance

NASDAQ:PNTG traded down $0.53 during mid-day trading on Monday, hitting $24.64. The company's stock had a trading volume of 355,874 shares, compared to its average volume of 429,028. The Pennant Group, Inc. has a 1 year low of $21.18 and a 1 year high of $37.13. 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 stock has a market cap of $851.56 million, a price-to-earnings ratio of 31.59, a PEG ratio of 2.07 and a beta of 1.48. The business's fifty day moving average is $25.32 and its two-hundred day moving average is $25.85.

Wall Street Analysts Forecast Growth

PNTG has been the topic of several research reports. Truist Financial reduced their target price on The Pennant Group from $32.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, July 16th. Wall Street Zen upgraded The Pennant Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Stephens restated an "overweight" rating and set a $35.00 target price on shares of The Pennant Group in a research report on Tuesday, June 10th. Finally, Wells Fargo & Company decreased their price target on shares of 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 analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $33.40.

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.