Cubist Systematic Strategies LLC Raises Holdings in The Pennant Group, Inc. $PNTG

Key Points

• Cubist Systematic Strategies LLC increased its holdings in The Pennant Group, Inc. by 205.9%, owning 97,527 shares after purchasing 65,640 additional shares during the first quarter.
• Several institutional investors have made significant movements with The Pennant Group stock, with Millennium Management LLC increasing its position by 1,274.9% during the fourth quarter.
• Analysts have recently downgraded The Pennant Group's stock from a "buy" to a "hold" rating, with a consensus price target of $34.40.

Cubist Systematic Strategies LLC raised its holdings in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 205.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,527 shares of the company's stock after purchasing an additional 65,640 shares during the quarter. Cubist Systematic Strategies LLC owned 0.28% of The Pennant Group worth $2,453,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Van Berkom & Associates Inc. increased its position in shares of The Pennant Group by 29.6% during the 1st quarter. Van Berkom & Associates Inc. now owns 2,849,562 shares of the company's stock worth $71,666,000 after purchasing an additional 651,346 shares during the last quarter. Nuveen LLC purchased a new position in The Pennant Group during the first quarter worth about $9,181,000. Millennium Management LLC increased its position in shares of The Pennant Group by 1,274.9% during the fourth quarter. Millennium Management LLC now owns 181,767 shares of the company's stock valued at $4,820,000 after acquiring an additional 168,547 shares during the last quarter. Zimmer Partners LP purchased a new stake in shares of The Pennant Group in the 4th quarter valued at approximately $3,978,000. Finally, Nuveen Asset Management LLC lifted its holdings in shares of The Pennant Group by 29.7% in the 4th quarter. Nuveen Asset Management LLC now owns 457,364 shares of the company's stock worth $12,129,000 after acquiring an additional 104,697 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company's stock.

The Pennant Group Stock Performance

NASDAQ:PNTG opened at $24.29 on Friday. The Pennant Group, Inc. has a 52 week low of $21.18 and a 52 week high of $37.13. The company has a fifty day simple moving average of $24.54 and a two-hundred day simple moving average of $25.72. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.11. The company has a market cap of $839.51 million, a price-to-earnings ratio of 31.14, a price-to-earnings-growth ratio of 2.00 and a beta of 1.31.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PNTG shares. Wall Street Zen downgraded shares of The Pennant Group from a "buy" rating to a "hold" rating in a report on Friday. Truist Financial dropped their price objective 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. Wells Fargo & Company cut 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. Finally, Stephens reissued an "overweight" rating and set a $40.00 target price on shares of The Pennant Group in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, The Pennant Group currently has a consensus rating of "Moderate Buy" and an average price target of $34.40.

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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