Rice Hall James & Associates LLC Has $6.05 Million Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

Rice Hall James & Associates LLC increased its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 43.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 240,649 shares of the company's stock after acquiring an additional 73,300 shares during the period. Rice Hall James & Associates LLC owned about 0.69% of The Pennant Group worth $6,052,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PNTG. FMR LLC boosted its position in shares of The Pennant Group by 54.5% during the 4th quarter. FMR LLC now owns 3,906,327 shares of the company's stock worth $103,596,000 after acquiring an additional 1,377,815 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of The Pennant Group by 11.0% during the 4th quarter. Vanguard Group Inc. now owns 2,261,564 shares of the company's stock worth $59,977,000 after acquiring an additional 223,919 shares in the last quarter. Millennium Management LLC boosted its position in shares of The Pennant Group by 1,274.9% during the 4th quarter. Millennium Management LLC now owns 181,767 shares of the company's stock worth $4,820,000 after acquiring an additional 168,547 shares in the last quarter. Zimmer Partners LP acquired a new stake in shares of The Pennant Group during the 4th quarter worth approximately $3,978,000. Finally, Ranger Investment Management L.P. boosted its position in shares of The Pennant Group by 147.3% during the 4th quarter. Ranger Investment Management L.P. now owns 195,210 shares of the company's stock worth $5,177,000 after acquiring an additional 116,285 shares in the last quarter. Institutional investors and hedge funds own 85.88% of the company's stock.

Insider Activity

In other news, Director Joanne Stringfield sold 5,000 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $29.47, for a total transaction of $147,350.00. Following the completion of the transaction, the director owned 30,275 shares of the company's stock, valued at approximately $892,204.25. This trade represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.40% of the company's stock.

The Pennant Group Trading Up 0.6%

Shares of PNTG stock traded up $0.15 during trading hours on Thursday, hitting $23.91. 386,877 shares of the company's stock traded hands, compared to its average volume of 236,447. The stock's 50 day simple moving average is $27.89 and its 200 day simple moving average is $26.43. The stock has a market cap of $824.18 million, a PE ratio of 31.46, a price-to-earnings-growth ratio of 2.02 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 company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.81.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of The Pennant Group from $30.00 to $31.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Truist Financial dropped their price objective on shares of The Pennant Group from $32.00 to $28.00 and set a "hold" rating for the company in a research note on Wednesday. Finally, Stephens reissued an "overweight" rating and issued a $35.00 price objective on shares of The Pennant Group in a research note on Tuesday, June 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, The Pennant Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.80.

The Pennant Group 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.