The Pennant Group, Inc. (NASDAQ:PNTG) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its position in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,647 shares of the company's stock after selling 17,663 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.47% of The Pennant Group worth $4,065,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NBC Securities Inc. purchased a new stake in shares of The Pennant Group in the first quarter worth about $25,000. Turtle Creek Asset Management Inc. increased its position in shares of The Pennant Group by 150.0% in the fourth 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. Quarry LP increased its position in shares of The Pennant Group by 166.8% in the fourth quarter. Quarry LP now owns 2,705 shares of the company's stock worth $72,000 after purchasing an additional 1,691 shares during the last quarter. Summit Investment Advisors Inc. increased 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 worth $91,000 after purchasing an additional 575 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of The Pennant Group in the fourth quarter worth approximately $122,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other The Pennant Group news, Director Joanne Stringfield sold 5,000 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $29.47, for a total value of $147,350.00. Following the transaction, the director owned 30,275 shares of the company's stock, valued at $892,204.25. This represents a 14.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.40% of the stock is owned by company insiders.

The Pennant Group Trading Down 0.6%

Shares of NASDAQ PNTG traded down $0.13 during trading hours on Friday, hitting $22.05. 84,100 shares of the company traded hands, compared to its average volume of 224,454. The company's 50 day moving average price is $26.64 and its 200 day moving average price is $26.20. The stock has a market capitalization of $759.87 million, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 1.92 and a beta of 1.51. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.81. The Pennant Group, Inc. has a 12 month low of $21.18 and a 12 month high of $37.13.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PNTG. Wells Fargo & Company increased their price target on shares of The Pennant Group from $30.00 to $31.00 and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Truist Financial cut their price target 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, Stephens reaffirmed an "overweight" rating and set a $35.00 price objective on shares of The Pennant Group in a research report on Tuesday, June 10th. 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 company currently has an average rating of "Moderate Buy" and a consensus price target of $33.80.

The Pennant Group Company 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.