Balance Wealth LLC Acquires Shares of 12,595 The Pennant Group, Inc. (NASDAQ:PNTG)

Balance Wealth LLC bought a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,595 shares of the company's stock, valued at approximately $317,000.

Several other institutional investors also recently bought and sold shares of the stock. Summit Investment Advisors Inc. grew its stake in The Pennant Group by 20.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company's stock valued at $91,000 after acquiring an additional 575 shares in the last quarter. Corebridge Financial Inc. grew its stake in shares of The Pennant Group by 6.2% in the 4th quarter. Corebridge Financial Inc. now owns 16,227 shares of the company's stock worth $430,000 after buying an additional 954 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of The Pennant Group in the 1st quarter worth $25,000. Arizona State Retirement System grew its stake in shares of The Pennant Group by 13.0% in the 4th quarter. Arizona State Retirement System now owns 9,773 shares of the company's stock worth $259,000 after buying an additional 1,121 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in shares of The Pennant Group by 0.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 190,882 shares of the company's stock worth $5,062,000 after buying an additional 1,200 shares in the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

The Pennant Group Trading Up 2.4%

Shares of PNTG stock traded up $0.71 during trading hours on Friday, reaching $29.80. 643,136 shares of the stock were exchanged, compared to its average volume of 228,690. The Pennant Group, Inc. has a 12-month low of $21.18 and a 12-month high of $37.13. 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 company's 50-day moving average price is $27.95 and its 200-day moving average price is $26.63. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 39.21, a price-to-earnings-growth ratio of 2.47 and a beta of 1.51.

Insider Buying and Selling

In related news, Director Joanne Stringfield sold 5,000 shares of The Pennant Group stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $29.47, for a total transaction of $147,350.00. Following the completion of the transaction, the director now directly owns 30,275 shares of the company's stock, valued at approximately $892,204.25. The trade was a 14.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.40% of the stock is owned by corporate insiders.

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.