Balance Wealth LLC Makes New Investment in The Pennant Group, Inc. (NASDAQ:PNTG)

Balance Wealth LLC bought a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,595 shares of the company's stock, valued at approximately $317,000.

A number of other institutional investors also recently modified their holdings of the business. NBC Securities Inc. bought a new position in The Pennant Group during the first quarter worth about $25,000. Turtle Creek Asset Management Inc. grew its position in shares of The Pennant Group by 150.0% during 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 in the last quarter. Quarry LP increased its holdings in shares of The Pennant Group by 166.8% during 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 period. Summit Investment Advisors Inc. raised 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 buying an additional 575 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of The Pennant Group in the fourth quarter valued at approximately $122,000. Institutional investors own 85.88% of the company's stock.

The Pennant Group Trading Up 3.1%

Shares of PNTG opened at $29.09 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.41 and a current ratio of 1.41. The Pennant Group, Inc. has a 52-week low of $21.18 and a 52-week high of $37.13. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 2.40 and a beta of 1.51. The business's fifty day moving average is $27.75 and its 200-day moving average is $26.62.

Insiders Place Their Bets

In other The Pennant Group news, Director Joanne Stringfield sold 5,000 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $29.47, for a total transaction of $147,350.00. Following the sale, the director now owns 30,275 shares of the company's stock, valued at approximately $892,204.25. The trade was a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.40% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PNTG shares. Truist Financial increased their price target on The Pennant Group from $28.00 to $32.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. Wells Fargo & Company increased their target price on The Pennant Group from $30.00 to $31.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Finally, Stephens restated an "overweight" rating and issued a $35.00 price target on shares of The Pennant Group in a research report on Tuesday, June 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $34.60.

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.

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