Nuveen Asset Management LLC Raises Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Nuveen Asset Management LLC grew its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 29.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 457,364 shares of the company's stock after buying an additional 104,697 shares during the period. Nuveen Asset Management LLC owned 1.33% of The Pennant Group worth $12,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PNTG. Van Berkom & Associates Inc. lifted its holdings in The Pennant Group by 2,635.6% during the 4th quarter. Van Berkom & Associates Inc. now owns 2,198,216 shares of the company's stock worth $58,297,000 after buying an additional 2,117,859 shares during the last quarter. FMR LLC lifted its holdings in The Pennant Group by 54.5% during the 4th quarter. FMR LLC now owns 3,906,327 shares of the company's stock worth $103,596,000 after buying an additional 1,377,815 shares during the last quarter. Vanguard Group Inc. lifted its holdings in The Pennant Group by 11.0% during the 4th quarter. Vanguard Group Inc. now owns 2,261,564 shares of the company's stock worth $59,977,000 after buying an additional 223,919 shares during the last quarter. Millennium Management LLC lifted its holdings in The Pennant Group by 1,274.9% during the 4th quarter. Millennium Management LLC now owns 181,767 shares of the company's stock worth $4,820,000 after buying an additional 168,547 shares during the last quarter. Finally, Ranger Investment Management L.P. lifted its holdings in The Pennant Group by 147.3% during the 4th quarter. Ranger Investment Management L.P. now owns 195,210 shares of the company's stock worth $5,177,000 after buying an additional 116,285 shares during the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on PNTG. Truist Financial lifted their price target on The Pennant Group from $28.00 to $32.00 and gave the stock a "hold" rating in a report on Monday, May 12th. Stephens reiterated an "overweight" rating and set a $38.00 target price on shares of The Pennant Group in a research 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 data from MarketBeat, The Pennant Group currently has a consensus rating of "Moderate Buy" and an average target price of $35.60.

Insider Activity at The Pennant Group

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

The Pennant Group Stock Performance

Shares of PNTG traded up $1.01 during midday trading on Friday, reaching $29.06. 207,969 shares of the stock were exchanged, compared to its average volume of 223,311. The business's 50-day moving average price is $26.62 and its 200 day moving average price is $26.93. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12. The Pennant Group, Inc. has a twelve month low of $21.18 and a twelve month high of $37.13. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 42.74, a PEG ratio of 2.24 and a beta of 1.56.

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.