De Lisle Partners LLP Grows Stock Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

Key Points

• De Lisle Partners LLP increased its stake in The Pennant Group by 6.9%, holding 407,801 shares valued at approximately $10.26 million, which represents 1.7% of their overall holdings.
• Institutional investors own 85.88% of The Pennant Group, with significant stake increases from firms like Vanguard Group and Wellington Management Group in the most recent quarter.
• Analysts have mixed ratings on the stock, with a consensus target price of $33.80 and two analysts rating it as a "hold" while three assigned a "buy" rating.

De Lisle Partners LLP lifted its stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 6.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 407,801 shares of the company's stock after acquiring an additional 26,339 shares during the quarter. The Pennant Group accounts for about 1.7% of De Lisle Partners LLP's investment portfolio, making the stock its 11th largest holding. De Lisle Partners LLP owned 1.17% of The Pennant Group worth $10,260,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. NBC Securities Inc. bought a new position in shares of The Pennant Group in the first quarter worth approximately $25,000. Turtle Creek Asset Management Inc. boosted its position in shares of The Pennant Group by 150.0% in the fourth 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 during the period. Quarry LP boosted its position in shares of The Pennant Group by 166.8% in 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. boosted 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 worth $91,000 after purchasing an additional 575 shares during the period. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of The Pennant Group in the fourth quarter worth approximately $122,000. 85.88% of the stock is currently owned by institutional investors.

Insider Activity at The Pennant Group

In other news, Director Joanne Stringfield sold 5,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $29.47, for a total value of $147,350.00. Following the transaction, the director directly owned 30,275 shares in the company, valued at approximately $892,204.25. This represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.40% of the company's stock.

Analyst Upgrades and Downgrades

PNTG has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of The Pennant Group from $30.00 to $31.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Stephens reissued an "overweight" rating and issued a $35.00 target price on shares of The Pennant Group in a report on Tuesday, June 10th. Finally, Truist Financial lowered their target price on shares of The Pennant Group from $32.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, July 16th. Two 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.80.

The Pennant Group Price Performance

PNTG traded down $0.10 during trading hours on Friday, hitting $22.07. The company's stock had a trading volume of 356,816 shares, compared to its average volume of 225,352. 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 Pennant Group, Inc. has a 12 month low of $21.18 and a 12 month high of $37.13. The stock has a market cap of $760.73 million, a price-to-earnings ratio of 29.04, a P/E/G ratio of 1.92 and a beta of 1.51. The business's 50-day moving average price is $26.64 and its 200-day moving average price is $26.20.

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.