The Pennant Group, Inc. (NASDAQ:PNTG) Shares Sold by Riverbridge Partners LLC

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

A number of other institutional investors and hedge funds have also modified their holdings of PNTG. Two Sigma Advisers LP grew its stake in The Pennant Group by 144.8% during the 4th quarter. Two Sigma Advisers LP now owns 131,700 shares of the company's stock valued at $3,493,000 after acquiring an additional 77,900 shares in the last quarter. SG Americas Securities LLC grew its stake in The Pennant Group by 56.9% during the 1st quarter. SG Americas Securities LLC now owns 23,413 shares of the company's stock valued at $589,000 after acquiring an additional 8,490 shares in the last quarter. Millennium Management LLC grew its stake in The Pennant Group by 1,274.9% during the 4th quarter. Millennium Management LLC now owns 181,767 shares of the company's stock valued at $4,820,000 after acquiring an additional 168,547 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in The Pennant Group by 18.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,537 shares of the company's stock valued at $492,000 after acquiring an additional 2,890 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in The Pennant Group by 8.6% during the 1st quarter. Rhumbline Advisers now owns 47,423 shares of the company's stock valued at $1,193,000 after acquiring an additional 3,750 shares in the last quarter. Hedge funds and other institutional investors own 85.88% of the company's stock.

The Pennant Group Trading Up 1.6%

Shares of The Pennant Group stock traded up $0.44 during mid-day trading on Monday, hitting $28.22. The stock had a trading volume of 195,953 shares, compared to its average volume of 227,332. The firm has a 50-day moving average of $27.69 and a two-hundred day moving average of $26.60. 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. The firm has a market cap of $972.74 million, a P/E ratio of 37.13, a price-to-earnings-growth ratio of 2.36 and a beta of 1.52.

Insider Activity

In other news, Director Joanne Stringfield sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $29.47, for a total value of $147,350.00. Following the transaction, the director now directly owns 30,275 shares in the company, valued at approximately $892,204.25. This represents a 14.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.40% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PNTG. Stephens reaffirmed an "overweight" rating and set a $35.00 price objective on shares of The Pennant Group in a research note on Tuesday, June 10th. Truist Financial upped their price objective on shares of The Pennant Group from $28.00 to $32.00 and gave the company a "hold" rating in a research note on Monday, May 12th. Finally, Wells Fargo & Company upped 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $34.60.

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.