Premier Fund Managers Ltd Takes $535,000 Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Premier Fund Managers Ltd purchased a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 21,751 shares of the company's stock, valued at approximately $535,000. Premier Fund Managers Ltd owned approximately 0.06% of The Pennant Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PNTG. Mackenzie Financial Corp grew its stake in The Pennant Group by 25.2% in the first quarter. Mackenzie Financial Corp now owns 22,446 shares of the company's stock valued at $565,000 after purchasing an additional 4,522 shares in the last quarter. Van Berkom & Associates Inc. grew its stake in The Pennant Group by 29.6% in the first quarter. Van Berkom & Associates Inc. now owns 2,849,562 shares of the company's stock valued at $71,666,000 after purchasing an additional 651,346 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in The Pennant Group in the first quarter valued at about $428,000. Rice Hall James & Associates LLC grew its stake in The Pennant Group by 43.8% in the first quarter. Rice Hall James & Associates LLC now owns 240,649 shares of the company's stock valued at $6,052,000 after purchasing an additional 73,300 shares in the last quarter. Finally, Balance Wealth LLC purchased a new position in The Pennant Group in the first quarter valued at about $317,000. Hedge funds and other institutional investors own 85.88% of the company's stock.

The Pennant Group Stock Performance

Shares of NASDAQ PNTG traded down $0.10 during trading hours on Friday, hitting $22.07. 356,819 shares of the company's stock were exchanged, compared to its average volume of 271,693. The Pennant Group, Inc. has a 1-year low of $21.18 and a 1-year high of $37.13. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $760.75 million, a price-to-earnings ratio of 29.04, a PEG ratio of 1.88 and a beta of 1.48. The company's 50-day moving average price is $26.53 and its 200-day moving average price is $26.17.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PNTG shares. Truist Financial reduced their price target on 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. Wells Fargo & Company boosted their price target on The Pennant Group from $30.00 to $31.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Finally, Stephens reissued an "overweight" rating and set a $35.00 price objective on shares of The Pennant Group in a research report on Tuesday, June 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.80.

Insider Buying and Selling

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 stock was sold at an average price of $29.47, for a total value of $147,350.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.40% of the stock is currently owned by company insiders.

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.