Cubist Systematic Strategies LLC Grows Stake 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 stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 205.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNTG. NBC Securities Inc. bought a new stake in The Pennant Group in the first quarter valued at approximately $25,000. Turtle Creek Asset Management Inc. increased its stake in shares of The Pennant Group by 150.0% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,500 shares of the company's stock valued at $66,000 after buying an additional 1,500 shares during the period. State of Wyoming increased its stake in shares of The Pennant Group by 41.3% during the first quarter. State of Wyoming now owns 6,170 shares of the company's stock valued at $155,000 after buying an additional 1,803 shares during the period. GAMMA Investing LLC increased its stake in shares of The Pennant Group by 7,124.5% during the first quarter. GAMMA Investing LLC now owns 7,947 shares of the company's stock valued at $200,000 after buying an additional 7,837 shares during the period. Finally, ProShare Advisors LLC purchased a new position in shares of The Pennant Group during the fourth quarter valued at approximately $244,000. Institutional investors own 85.88% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on The Pennant Group from $31.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 14th. Truist Financial reduced their target price on The Pennant Group from $32.00 to $28.00 and set a "hold" rating on the stock in a research note on Wednesday, July 16th. Stephens reissued an "overweight" rating and set a $40.00 target price on shares of The Pennant Group in a research note on Thursday, September 4th. Finally, Wall Street Zen cut The Pennant Group from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.40.

The Pennant Group Stock Down 0.5%

PNTG stock traded down $0.13 during midday trading on Friday, hitting $25.58. The stock had a trading volume of 417,190 shares, compared to its average volume of 353,162. The firm has a market cap of $884.04 million, a price-to-earnings ratio of 32.79, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The business has a 50-day moving average of $24.34 and a two-hundred day moving average of $25.71. The Pennant Group, Inc. has a 52-week low of $21.18 and a 52-week high of $37.13. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.21 and a quick ratio of 1.21.

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.