BNP Paribas Financial Markets Makes New Investment in The Pennant Group, Inc. (NASDAQ:PNTG)

BNP Paribas Financial Markets acquired a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 76,240 shares of the company's stock, valued at approximately $2,022,000. BNP Paribas Financial Markets owned approximately 0.22% of The Pennant Group at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PNTG. Van Berkom & Associates Inc. boosted its holdings in The Pennant Group by 2,635.6% in the fourth quarter. Van Berkom & Associates Inc. now owns 2,198,216 shares of the company's stock worth $58,297,000 after acquiring an additional 2,117,859 shares in the last quarter. FMR LLC raised its position in shares of The Pennant Group by 54.5% during the fourth quarter. FMR LLC now owns 3,906,327 shares of the company's stock worth $103,596,000 after purchasing an additional 1,377,815 shares during the period. Vanguard Group Inc. raised its position in shares of The Pennant Group by 11.0% during the fourth quarter. Vanguard Group Inc. now owns 2,261,564 shares of the company's stock worth $59,977,000 after purchasing an additional 223,919 shares during the period. Ranger Investment Management L.P. lifted its holdings in shares of The Pennant Group by 147.3% in the 4th quarter. Ranger Investment Management L.P. now owns 195,210 shares of the company's stock worth $5,177,000 after purchasing an additional 116,285 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in The Pennant Group in the 4th quarter valued at $2,570,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

The Pennant Group Stock Down 2.7%

The Pennant Group stock traded down $0.80 during trading on Wednesday, hitting $28.63. 140,877 shares of the company were exchanged, compared to its average volume of 224,181. The company has a market capitalization of $986.85 million, a P/E ratio of 42.10, a PEG ratio of 2.24 and a beta of 1.56. The business's 50 day moving average is $25.97 and its 200 day moving average is $27.19. The Pennant Group, Inc. has a 52 week low of $21.18 and a 52 week high of $37.13. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Stephens restated an "overweight" rating and set a $38.00 price objective on shares of The Pennant Group in a report on Wednesday, April 2nd. Truist Financial upped their target price on shares of The Pennant Group from $28.00 to $32.00 and gave the stock a "hold" rating in a report on Monday, May 12th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.60.

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.