The Pennant Group, Inc. $PNTG Shares Acquired by Graham Capital Management L.P.

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. grew its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 131.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,037 shares of the company's stock after purchasing an additional 18,216 shares during the period. Graham Capital Management L.P. owned approximately 0.09% of The Pennant Group worth $806,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Paradigm Capital Management Inc. NY boosted its stake in shares of The Pennant Group by 1.7% in the first quarter. Paradigm Capital Management Inc. NY now owns 955,000 shares of the company's stock valued at $24,018,000 after buying an additional 16,000 shares in the last quarter. Magnetar Financial LLC acquired a new stake in The Pennant Group in the first quarter valued at $316,000. State of Wyoming boosted its position in shares of The Pennant Group by 41.3% during the 1st quarter. State of Wyoming now owns 6,170 shares of the company's stock worth $155,000 after purchasing an additional 1,803 shares in the last quarter. Freedom Investment Management Inc. boosted its position in shares of The Pennant Group by 39.3% during the 1st quarter. Freedom Investment Management Inc. now owns 19,407 shares of the company's stock worth $488,000 after purchasing an additional 5,473 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in shares of The Pennant Group by 37.9% during the 1st quarter. AlphaQuest LLC now owns 15,108 shares of the company's stock worth $380,000 after purchasing an additional 4,151 shares during the period. 85.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

The Pennant Group Price Performance

Shares of NASDAQ PNTG traded up $0.21 on Friday, hitting $24.29. The company's stock had a trading volume of 246,192 shares, compared to its average volume of 413,350. The stock has a 50 day moving average of $24.54 and a 200-day moving average of $25.72. The company has a market capitalization 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. The Pennant Group, Inc. has a 12-month low of $21.18 and a 12-month 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.

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.