Riverbridge Partners LLC Sells 81,583 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Riverbridge Partners LLC reduced its position in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 8.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 928,611 shares of the company's stock after selling 81,583 shares during the period. Riverbridge Partners LLC owned 2.67% of The Pennant Group worth $23,355,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PNTG. Summit Investment Advisors Inc. boosted its stake in The Pennant Group by 20.3% in 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 in the last quarter. Corebridge Financial Inc. boosted its stake in The Pennant Group by 6.2% in the 4th quarter. Corebridge Financial Inc. now owns 16,227 shares of the company's stock worth $430,000 after purchasing an additional 954 shares in the last quarter. NBC Securities Inc. acquired a new stake in The Pennant Group in the 1st quarter worth approximately $25,000. Arizona State Retirement System boosted its stake in The Pennant Group by 13.0% in the 4th quarter. Arizona State Retirement System now owns 9,773 shares of the company's stock worth $259,000 after purchasing an additional 1,121 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake 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 worth $5,062,000 after purchasing an additional 1,200 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors.

The Pennant Group Stock Performance

PNTG opened at $28.06 on Friday. The Pennant Group, Inc. has a 12-month low of $21.18 and a 12-month high of $37.13. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $967.23 million, a PE ratio of 36.92, a P/E/G ratio of 2.39 and a beta of 1.51. The firm has a 50 day moving average of $27.60 and a two-hundred day moving average of $26.69.

Wall Street Analysts Forecast Growth

PNTG has been the subject of a number of recent analyst reports. Stephens reiterated an "overweight" rating and issued a $35.00 target price on shares of The Pennant Group in a research note on Tuesday, June 10th. Wells Fargo & Company raised their price target on shares of 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, Truist Financial raised their price target on shares of The Pennant Group from $28.00 to $32.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.60.

Insider Activity

In other news, Director Joanne Stringfield sold 5,000 shares of The Pennant Group stock in a transaction that occurred 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 now directly owns 30,275 shares of the company's stock, valued at $892,204.25. The trade was a 14.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.40% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.