PharVision Advisers LLC Purchases New Stake in The Pennant Group, Inc. (NASDAQ:PNTG)

PharVision Advisers LLC purchased a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 11,457 shares of the company's stock, valued at approximately $304,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Investment Advisors Inc. lifted its stake in 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 buying an additional 575 shares during the last quarter. Corebridge Financial Inc. grew its position in shares of The Pennant Group by 6.2% during the fourth quarter. Corebridge Financial Inc. now owns 16,227 shares of the company's stock worth $430,000 after acquiring an additional 954 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of The Pennant Group by 13.0% in the 4th quarter. Arizona State Retirement System now owns 9,773 shares of the company's stock valued at $259,000 after acquiring an additional 1,121 shares during the period. Hillsdale Investment Management Inc. raised its position in The Pennant Group by 0.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 190,882 shares of the company's stock valued at $5,062,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in The Pennant Group by 10.9% in the 4th quarter. Principal Financial Group Inc. now owns 14,000 shares of the company's stock valued at $371,000 after purchasing an additional 1,374 shares during the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Pennant Group

In other news, Director Joanne Stringfield sold 5,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $29.47, for a total transaction of $147,350.00. Following the transaction, the director now directly owns 30,275 shares in the company, valued at $892,204.25. The trade was a 14.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PNTG. Stephens reissued an "overweight" rating and set a $38.00 price objective on shares of The Pennant Group in a research report on Wednesday, April 2nd. Truist Financial increased their target price on shares of The Pennant Group from $28.00 to $32.00 and gave the stock a "hold" rating in a research note on Monday, May 12th. Two equities research 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 company has an average rating of "Moderate Buy" and a consensus price target of $35.60.

The Pennant Group Stock Performance

Shares of NASDAQ PNTG traded up $0.62 during mid-day trading on Tuesday, hitting $28.39. 14,741 shares of the company were exchanged, compared to its average volume of 223,333. The stock has a 50 day simple moving average of $26.29 and a 200-day simple moving average of $27.03. The Pennant Group, Inc. has a 1-year low of $21.18 and a 1-year high of $37.13. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. The firm has a market cap of $978.40 million, a price-to-earnings ratio of 41.71, a price-to-earnings-growth ratio of 2.24 and a beta of 1.56.

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.