American Century Companies Inc. Acquires New Holdings in The Pennant Group, Inc. $PNTG

Key Points

• American Century Companies Inc. has acquired a new stake in The Pennant Group, Inc., purchasing 20,627 shares valued at approximately $519,000.
• Several institutional investors increased their holdings in The Pennant Group, with notable raises including Turtle Creek Asset Management acquiring a 150% increase in their shares during the fourth quarter.
• Analysts have mixed ratings on The Pennant Group, with a consensus rating of "Moderate Buy" and an average target price of $34.40, reflecting varying outlooks on the stock's performance.

American Century Companies Inc. purchased a new stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 20,627 shares of the company's stock, valued at approximately $519,000. American Century Companies Inc. owned 0.06% of The Pennant Group as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in The Pennant Group in the 1st quarter valued at $25,000. Turtle Creek Asset Management Inc. lifted its holdings in 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 valued at $66,000 after purchasing an additional 1,500 shares in the last quarter. GAMMA Investing LLC lifted its holdings in The Pennant Group by 7,124.5% in the 1st quarter. GAMMA Investing LLC now owns 7,947 shares of the company's stock valued at $200,000 after purchasing an additional 7,837 shares in the last quarter. ProShare Advisors LLC purchased a new position in The Pennant Group in the 4th quarter valued at $244,000. Finally, XTX Topco Ltd purchased a new position in The Pennant Group in the 1st quarter valued at $285,000. Institutional investors and hedge funds own 85.88% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wells Fargo & Company decreased their price objective on The Pennant Group from $31.00 to $29.00 and set an "equal weight" rating on the stock in a report on Thursday, August 14th. Truist Financial decreased their price objective 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. Stephens restated an "overweight" rating and issued a $40.00 price objective on shares of The Pennant Group in a report on Thursday, September 4th. Finally, Wall Street Zen lowered The Pennant Group from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $34.40.

The Pennant Group Trading Up 4.5%

Shares of NASDAQ PNTG traded up $1.11 during trading on Thursday, hitting $25.71. 378,820 shares of the company were exchanged, compared to its average volume of 364,633. The Pennant Group, Inc. has a 12-month low of $21.18 and a 12-month high of $37.13. 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 company has a fifty day moving average price of $24.36 and a 200-day moving average price of $25.71. The firm has a market capitalization of $888.54 million, a PE ratio of 32.96, a P/E/G ratio of 2.02 and a beta of 1.31.

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.