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

Peregrine Capital Management LLC cut its stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 224,482 shares of the company's stock after selling 12,247 shares during the quarter. Peregrine Capital Management LLC owned 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 stake in shares of The Pennant Group in the first quarter worth approximately $25,000. Turtle Creek Asset Management Inc. increased its holdings 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 buying an additional 1,500 shares during the last quarter. Quarry LP increased its holdings 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 buying an additional 1,691 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in The Pennant Group by 20.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company's stock valued at $91,000 after buying an additional 575 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new stake in The Pennant Group during the fourth quarter valued at approximately $122,000. 85.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PNTG has been the subject of a number of research reports. Truist Financial upped their target price on shares of The Pennant Group from $28.00 to $32.00 and gave the company a "hold" rating in a report on Monday, May 12th. Wells Fargo & Company upped their target price 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 reaffirmed an "overweight" rating and set a $35.00 target price 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 given a buy rating to the company's stock. According to data from MarketBeat.com, The Pennant Group presently has an average rating of "Moderate Buy" and an average target price of $34.60.

Insider Buying and Selling at The Pennant Group

In other The Pennant Group news, Director Joanne Stringfield sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $29.47, for a total value of $147,350.00. Following the completion of the transaction, the director directly owned 30,275 shares in the company, valued at $892,204.25. This represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.40% of the stock is currently owned by insiders.

The Pennant Group Price Performance

Shares of PNTG traded down $1.12 during mid-day trading on Wednesday, reaching $25.90. The stock had a trading volume of 422,390 shares, compared to its average volume of 233,148. The firm has a market cap of $892.77 million, a price-to-earnings ratio of 34.08, a PEG ratio of 2.30 and a beta of 1.51. The Pennant Group, Inc. has a 12 month low of $21.18 and a 12 month high of $37.13. The business has a fifty day moving average of $28.09 and a 200 day moving average of $26.59. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.41 and a current ratio of 1.41.

About The Pennant Group

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.