Navellier & Associates Inc. Has $370,000 Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

Key Points

• Navellier & Associates Inc. has significantly reduced its stake in The Pennant Group, selling 31,776 shares and decreasing its holdings by 69.6%, now owning 13,851 shares worth approximately $370,000.
• Multiple institutional investors have modified their positions in The Pennant Group, with notable increases in holdings by Turtle Creek Asset Management and Quarry LP, while institutional ownership now totals 85.88%.
• The stock currently has a consensus rating of "Moderate Buy" with a price target of $33.80 according to several analysts, including Stephens, Wells Fargo, and Truist Financial.

Navellier & Associates Inc. lessened its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 69.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 13,851 shares of the company's stock after selling 31,776 shares during the period. Navellier & Associates Inc.'s holdings in The Pennant Group were worth $370,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of The Pennant Group in the first quarter valued at about $428,000. Rice Hall James & Associates LLC lifted its stake in The Pennant Group by 43.8% during the first quarter. Rice Hall James & Associates LLC now owns 240,649 shares of the company's stock worth $6,052,000 after purchasing an additional 73,300 shares during the period. Balance Wealth LLC bought a new position in The Pennant Group during the first quarter worth about $317,000. SG Americas Securities LLC raised its stake in shares of The Pennant Group by 56.9% in the first quarter. SG Americas Securities LLC now owns 23,413 shares of the company's stock valued at $589,000 after acquiring an additional 8,490 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in shares of The Pennant Group in the first quarter valued at approximately $25,000. Institutional investors and hedge funds own 85.88% of the company's stock.

The Pennant Group Stock Down 0.8%

NASDAQ PNTG traded down $0.19 on Wednesday, reaching $22.79. The company had a trading volume of 26,749 shares, compared to its average volume of 223,140. The firm has a market capitalization of $785.57 million, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 1.97 and a beta of 1.51. 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 1-year low of $21.18 and a 1-year high of $37.13. The company's fifty day moving average is $26.88 and its 200-day moving average is $26.25.

Analyst Ratings Changes

Several research analysts recently weighed in on PNTG shares. Truist Financial dropped 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 report on Wednesday, July 16th. Wells Fargo & Company boosted their price target on shares of The Pennant Group from $30.00 to $31.00 and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. Finally, Stephens reissued an "overweight" rating and issued a $35.00 price target on shares of The Pennant Group in a report on Tuesday, June 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $33.80.

Insiders Place Their Bets

In other The Pennant Group news, Director Joanne Stringfield sold 5,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $29.47, for a total transaction of $147,350.00. Following the sale, the director directly owned 30,275 shares of the company's stock, valued at $892,204.25. The trade was a 14.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 5.40% of the company's stock.

The Pennant Group 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.