ProShare Advisors LLC Makes New $244,000 Investment in The Pennant Group, Inc. (NASDAQ:PNTG)

ProShare Advisors LLC purchased a new position in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 9,191 shares of the company's stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Summit Investment Advisors Inc. grew its stake in shares of The Pennant Group by 20.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company's stock worth $91,000 after purchasing an additional 575 shares during the period. Corebridge Financial Inc. lifted its position in shares of The Pennant Group by 6.2% during the 4th quarter. Corebridge Financial Inc. now owns 16,227 shares of the company's stock valued at $430,000 after buying an additional 954 shares in the last quarter. Arizona State Retirement System lifted its position in shares of The Pennant Group by 13.0% during the 4th quarter. Arizona State Retirement System now owns 9,773 shares of the company's stock valued at $259,000 after buying an additional 1,121 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of The Pennant Group by 0.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 190,882 shares of the company's stock valued at $5,062,000 after buying an additional 1,200 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of The Pennant Group by 10.9% during the 4th quarter. Principal Financial Group Inc. now owns 14,000 shares of the company's stock valued at $371,000 after buying an additional 1,374 shares in the last quarter. Institutional investors and hedge funds own 85.88% of the company's stock.

Insider Transactions at The Pennant Group

In other The Pennant Group news, Director Joanne Stringfield sold 5,000 shares of the firm's stock in a transaction 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 sale, the director now directly owns 30,275 shares of the company's stock, valued at $892,204.25. This trade represents a 14.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Stephens reiterated an "overweight" rating and set a $38.00 target price on shares of The Pennant Group in a research report on Wednesday, April 2nd. Truist Financial increased their target price on The Pennant Group from $28.00 to $32.00 and gave the company a "hold" rating in a research report on Monday, May 12th. Finally, Wells Fargo & Company increased their target price on The Pennant Group from $30.00 to $31.00 and gave the company an "equal weight" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $35.20.

The Pennant Group Price Performance

Shares of NASDAQ:PNTG traded down $0.19 during midday trading on Wednesday, hitting $28.88. The company's stock had a trading volume of 122,259 shares, compared to its average volume of 223,475. The business's 50 day simple moving average is $26.86 and its 200 day simple moving average is $26.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $995.46 million, a P/E ratio of 42.47, a price-to-earnings-growth ratio of 2.24 and a beta of 1.56. The Pennant Group, Inc. has a 12-month low of $21.18 and a 12-month high of $37.13.

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.