Paradigm Capital Management Inc. NY Has $24.02 Million Stake in The Pennant Group, Inc. $PNTG

Key Points

• Paradigm Capital Management Inc. increased its stake in The Pennant Group by 1.7%, acquiring an additional 16,000 shares, bringing its total holdings to 955,000 shares.
• Several other hedge funds have also increased their investments in The Pennant Group, with institutional investors owning 85.88% of the company's stock.
• Analysts have varied opinions on the stock; Truist Financial lowered their price target to $28 while Wall Street Zen upgraded it to a "buy," reflecting differing assessments of the company's prospects.

Paradigm Capital Management Inc. NY increased its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 955,000 shares of the company's stock after purchasing an additional 16,000 shares during the period. The Pennant Group comprises about 1.3% of Paradigm Capital Management Inc. NY's investment portfolio, making the stock its 22nd largest position. Paradigm Capital Management Inc. NY owned about 2.77% of The Pennant Group worth $24,018,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Two Sigma Advisers LP increased its position in shares of The Pennant Group by 144.8% during the fourth quarter. Two Sigma Advisers LP now owns 131,700 shares of the company's stock valued at $3,493,000 after purchasing an additional 77,900 shares during the period. SG Americas Securities LLC increased its position in shares of The Pennant Group by 56.9% during the first quarter. SG Americas Securities LLC now owns 23,413 shares of the company's stock valued at $589,000 after purchasing an additional 8,490 shares during the period. GAMMA Investing LLC increased its position in shares of The Pennant Group by 7,124.5% during the first quarter. GAMMA Investing LLC now owns 7,947 shares of the company's stock valued at $200,000 after purchasing an additional 7,837 shares during the period. Millennium Management LLC increased its position in shares of The Pennant Group by 1,274.9% during the fourth quarter. Millennium Management LLC now owns 181,767 shares of the company's stock valued at $4,820,000 after purchasing an additional 168,547 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of The Pennant Group by 8.6% in the 1st quarter. Rhumbline Advisers now owns 47,423 shares of the company's stock worth $1,193,000 after purchasing an additional 3,750 shares during the last quarter. 85.88% of the stock is currently owned by institutional investors.

The Pennant Group Trading Up 3.0%

Shares of PNTG traded up $0.73 during trading hours on Wednesday, hitting $24.69. 542,471 shares of the stock traded hands, compared to its average volume of 425,318. 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 1-year low of $21.18 and a 1-year high of $37.13. The firm has a market capitalization of $853.29 million, a PE ratio of 29.28, a price-to-earnings-growth ratio of 1.98 and a beta of 1.31. The business has a fifty day moving average of $24.84 and a 200-day moving average of $25.77.

Wall Street Analyst Weigh In

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