Peregrine Capital Management LLC Lowers Stake in The Pennant Group, Inc. (NASDAQ:PNTG)

Peregrine Capital Management LLC reduced its holdings in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 5.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 224,482 shares of the company's stock after selling 12,247 shares during the period. Peregrine Capital Management LLC owned approximately 0.65% of The Pennant Group worth $5,646,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. NBC Securities Inc. bought a new position in shares of The Pennant Group during the 1st quarter valued at approximately $25,000. Turtle Creek Asset Management Inc. increased its position in The Pennant Group by 150.0% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,500 shares of the company's stock valued at $66,000 after acquiring an additional 1,500 shares during the last quarter. Quarry LP increased its position in The Pennant Group by 166.8% during the fourth quarter. Quarry LP now owns 2,705 shares of the company's stock valued at $72,000 after acquiring an additional 1,691 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of The Pennant Group by 20.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company's stock valued at $91,000 after acquiring an additional 575 shares during the period. Finally, Public Employees Retirement Association of Colorado bought a new stake in shares of The Pennant Group in the 4th quarter worth about $122,000. 85.88% of the stock is currently owned by institutional investors.

The Pennant Group Trading Up 1.5%

PNTG traded up $0.40 on Friday, reaching $26.30. 160,640 shares of the company traded hands, compared to its average volume of 233,382. The company has a market cap of $906.39 million, a P/E ratio of 34.60, a price-to-earnings-growth ratio of 2.24 and a beta of 1.51. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.81. The Pennant Group, Inc. has a one year low of $21.18 and a one year high of $37.13. The firm has a fifty day simple moving average of $28.12 and a two-hundred day simple moving average of $26.56.

Analysts Set New Price Targets

A number of research firms recently commented on PNTG. Wells Fargo & Company upped 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. Stephens restated 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, Truist Financial increased 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $34.60.

Insider Buying and Selling at The Pennant Group

In related news, Director Joanne Stringfield sold 5,000 shares of the stock in a transaction that occurred on 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 owned 30,275 shares of the company's stock, valued at $892,204.25. This represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.40% of the company's stock.

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.