Mackenzie Financial Corp Buys New Stake in The Pennant Group, Inc. (NASDAQ:PNTG)

Mackenzie Financial Corp bought a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,924 shares of the company's stock, valued at approximately $475,000. Mackenzie Financial Corp owned approximately 0.05% of The Pennant Group as of its most recent SEC filing.

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

Insider Transactions at The Pennant Group

In other news, Director Joanne Stringfield sold 5,000 shares of the company's stock in a transaction that occurred on 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 now directly owns 30,275 shares in the company, valued at approximately $892,204.25. This represents a 14.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.40% of the company's stock.

Analyst Ratings Changes

PNTG has been the topic of a number of research reports. Stephens reissued an "overweight" rating and issued a $38.00 target price on shares of The Pennant Group in a research note on Wednesday, April 2nd. 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 report on Tuesday. Finally, Truist Financial boosted their price objective on The Pennant Group from $28.00 to $32.00 and gave the stock a "hold" rating in a research note on Monday, May 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.20.

The Pennant Group Trading Down 0.3%

NASDAQ:PNTG traded down $0.09 on Friday, hitting $29.55. The stock had a trading volume of 155,412 shares, compared to its average volume of 224,233. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 43.46, a PEG ratio of 2.24 and a beta of 1.56. The company has a fifty day moving average price of $27.03 and a two-hundred day moving average price of $26.88. The Pennant Group, Inc. has a 1-year low of $21.18 and a 1-year high of $37.13.

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.