Federated Hermes Inc. Has $630,000 Stock Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

Federated Hermes Inc. trimmed its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 53.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,052 shares of the company's stock after selling 28,699 shares during the quarter. Federated Hermes Inc. owned approximately 0.07% of The Pennant Group worth $630,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PNTG. NBC Securities Inc. acquired a new position in shares of The Pennant Group in the first quarter worth approximately $25,000. Turtle Creek Asset Management Inc. lifted its stake 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 acquiring an additional 1,500 shares during the period. Quarry LP lifted its stake 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 acquiring an additional 1,691 shares during the period. Summit Investment Advisors Inc. lifted its stake 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 acquiring an additional 575 shares during the period. Finally, Public Employees Retirement Association of Colorado acquired a new position in shares of The Pennant Group in the fourth quarter worth approximately $122,000. 85.88% of the stock is owned by institutional investors and hedge funds.

The Pennant Group Trading Up 8.4%

Shares of PNTG stock opened at $24.12 on Friday. The company has a market cap of $831.42 million, a P/E ratio of 30.92, a PEG ratio of 1.89 and a beta of 1.48. The stock has a 50 day simple moving average of $26.10 and a two-hundred day simple moving average of $26.03. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.41 and a current ratio of 1.41. The Pennant Group, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $37.13.

Insiders Place Their Bets

In other The Pennant Group news, Director Joanne Stringfield sold 5,000 shares of The Pennant Group stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $29.47, for a total value of $147,350.00. Following the completion of the sale, the director directly owned 30,275 shares in the company, valued at approximately $892,204.25. The trade was a 14.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.40% of the company's stock.

Analyst Upgrades and Downgrades

PNTG has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on 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 cut their price objective 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. Finally, Stephens reaffirmed 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 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.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $33.80.

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.

Want to see what other hedge funds are holding PNTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Pennant Group, Inc. (NASDAQ:PNTG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.