365,055 Shares in The Pennant Group, Inc. $PNTG Bought by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in The Pennant Group, purchasing 365,055 shares valued at approximately $9.18 million during the first quarter, bringing their total ownership to 1.05%.
• Recent analyst ratings on PNTG show a mixed sentiment; while Wells Fargo lowered their target price to $29, Stephens maintains an "overweight" rating with a $35 target.
• The stock currently has a market capitalization of $869.88 million and has a consensus rating of "Moderate Buy" with a target price of $33.40 from analysts.

Nuveen LLC acquired a new stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 365,055 shares of the company's stock, valued at approximately $9,181,000. Nuveen LLC owned about 1.05% of The Pennant Group as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Invesco Ltd. lifted its holdings in shares of The Pennant Group by 9.9% in the 1st quarter. Invesco Ltd. now owns 48,945 shares of the company's stock worth $1,231,000 after buying an additional 4,425 shares during the period. XTX Topco Ltd purchased a new stake in shares of The Pennant Group during the 1st quarter worth $285,000. De Lisle Partners LLP lifted its stake in shares of The Pennant Group by 6.9% during the 1st quarter. De Lisle Partners LLP now owns 407,801 shares of the company's stock worth $10,260,000 after purchasing an additional 26,339 shares during the last quarter. Premier Fund Managers Ltd purchased a new stake in shares of The Pennant Group during the 1st quarter worth $535,000. Finally, Mackenzie Financial Corp lifted its stake in shares of The Pennant Group by 25.2% during the 1st quarter. Mackenzie Financial Corp now owns 22,446 shares of the company's stock worth $565,000 after purchasing an additional 4,522 shares during the last quarter. Institutional investors own 85.88% of the company's stock.

The Pennant Group Price Performance

PNTG traded down $0.28 during trading on Friday, hitting $24.01. The company's stock had a trading volume of 243,289 shares, compared to its average volume of 440,675. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.11. The Pennant Group, Inc. has a twelve month low of $21.18 and a twelve month high of $37.13. The business's fifty day simple moving average is $25.03 and its 200 day simple moving average is $25.80. The firm has a market capitalization of $829.79 million, a price-to-earnings ratio of 30.78, a P/E/G ratio of 2.00 and a beta of 1.48.

Analysts Set New Price Targets

PNTG has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on The Pennant Group from $31.00 to $29.00 and set an "equal weight" rating for the company in a research note on Thursday, August 14th. Wall Street Zen upgraded The Pennant Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Truist Financial decreased their price target on 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. Finally, Stephens reiterated an "overweight" rating and issued a $35.00 price target on shares of The Pennant Group in a research note on Tuesday, June 10th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $33.40.

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.