Mackenzie Financial Corp Acquires Shares of 17,924 The Pennant Group, Inc. (NASDAQ:PNTG)

Mackenzie Financial Corp acquired a new position in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,924 shares of the company's stock, valued at approximately $475,000. Mackenzie Financial Corp owned 0.05% of The Pennant Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. grew its holdings in shares of The Pennant Group by 20.3% during the 4th 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. Corebridge Financial Inc. boosted its stake in The Pennant Group by 6.2% during the fourth quarter. Corebridge Financial Inc. now owns 16,227 shares of the company's stock worth $430,000 after buying an additional 954 shares during the period. Arizona State Retirement System boosted its stake in The Pennant Group by 13.0% during the fourth quarter. Arizona State Retirement System now owns 9,773 shares of the company's stock worth $259,000 after buying an additional 1,121 shares during the period. Hillsdale Investment Management Inc. increased its position in shares of The Pennant Group by 0.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 190,882 shares of the company's stock valued at $5,062,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of The Pennant Group by 10.9% in the 4th quarter. Principal Financial Group Inc. now owns 14,000 shares of the company's stock worth $371,000 after acquiring an additional 1,374 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company's stock.

The Pennant Group Stock Down 0.3%

Shares of NASDAQ:PNTG traded down $0.09 during trading on Friday, hitting $29.55. The company's stock had a trading volume of 155,412 shares, compared to its average volume of 223,854. The Pennant Group, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $37.13. The business has a 50 day moving average price of $27.03 and a two-hundred day moving average price of $26.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $1.02 billion, a PE ratio of 43.46, a P/E/G ratio of 2.24 and a beta of 1.56.

Analyst Ratings Changes

PNTG has been the topic of a number of research analyst reports. Truist Financial boosted their target price on The Pennant Group from $28.00 to $32.00 and gave the company a "hold" rating in a research report on Monday, May 12th. Wells Fargo & Company boosted their price objective on The Pennant Group from $30.00 to $31.00 and gave the company an "equal weight" rating in a report on Tuesday. Finally, Stephens restated an "overweight" rating and set a $38.00 target price on shares of The Pennant Group in a report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $35.20.

Insider Activity at The Pennant Group

In related news, Director Joanne Stringfield sold 5,000 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $29.47, for a total transaction of $147,350.00. Following the completion of the transaction, the director now directly owns 30,275 shares of the company's stock, valued at $892,204.25. The trade was a 14.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.40% of the stock is currently owned by company insiders.

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.