Graham Capital Management L.P. Buys 18,216 Shares of The Pennant Group, Inc. $PNTG

Key Points

• Graham Capital Management L.P. increased its holdings in The Pennant Group by 131.8%, now owning approximately $806,000 worth of shares.
• Analysts have set a consensus target price of $34.40 for The Pennant Group, with three analysts rating it as a "Buy".
• The stock has fluctuated between a one-year low of $21.18 and a high of $37.13, currently trading at around $24.08.

Graham Capital Management L.P. increased its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 131.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,037 shares of the company's stock after acquiring an additional 18,216 shares during the period. Graham Capital Management L.P. owned about 0.09% of The Pennant Group worth $806,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Susquehanna International Group LLP raised its stake in shares of The Pennant Group by 44.5% during the 4th quarter. Susquehanna International Group LLP now owns 63,132 shares of the company's stock worth $1,674,000 after purchasing an additional 19,446 shares in the last quarter. Northern Trust Corp increased its holdings in The Pennant Group by 22.5% in the fourth quarter. Northern Trust Corp now owns 424,880 shares of the company's stock worth $11,268,000 after buying an additional 77,980 shares during the last quarter. Algert Global LLC raised its position in The Pennant Group by 10.2% during the fourth quarter. Algert Global LLC now owns 97,551 shares of the company's stock valued at $2,587,000 after acquiring an additional 9,049 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in The Pennant Group in the fourth quarter valued at approximately $2,022,000. Finally, Bank of America Corp DE grew its position in The Pennant Group by 94.0% in the fourth quarter. Bank of America Corp DE now owns 122,340 shares of the company's stock worth $3,244,000 after acquiring an additional 59,286 shares in the last quarter. Hedge funds and other institutional investors own 85.88% of the company's stock.

The Pennant Group Stock Performance

Shares of NASDAQ:PNTG traded down $0.23 during midday trading on Wednesday, hitting $24.60. The company's stock had a trading volume of 572,823 shares, compared to its average volume of 358,964. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.21 and a current ratio of 1.21. The stock's 50 day simple moving average is $24.37 and its 200 day simple moving average is $25.70. The stock has a market capitalization of $850.18 million, a price-to-earnings ratio of 31.54, a PEG ratio of 2.04 and a beta of 1.31. The Pennant Group, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $37.13.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Truist Financial cut their price target 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. Wall Street Zen lowered The Pennant Group from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Wells Fargo & Company reduced their price target on The Pennant Group from $31.00 to $29.00 and set an "equal weight" rating for the company in a research report on Thursday, August 14th. Finally, Stephens reissued an "overweight" rating and set a $40.00 price objective on shares of The Pennant Group in a report on Thursday, September 4th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, The Pennant Group has a consensus rating of "Moderate Buy" and a consensus price target of $34.40.

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.