Squarepoint Ops LLC Makes New Investment in The Pennant Group, Inc. (NASDAQ:PNTG)

Squarepoint Ops LLC acquired a new stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 15,011 shares of the company's stock, valued at approximately $398,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Two Sigma Advisers LP boosted its stake in The Pennant Group by 144.8% in the 4th quarter. Two Sigma Advisers LP now owns 131,700 shares of the company's stock valued at $3,493,000 after buying an additional 77,900 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of The Pennant Group by 192.8% during the fourth quarter. Two Sigma Investments LP now owns 154,818 shares of the company's stock valued at $4,106,000 after acquiring an additional 101,943 shares during the period. Turtle Creek Asset Management Inc. boosted its stake in shares of The Pennant Group by 150.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,500 shares of the company's stock valued at $66,000 after purchasing an additional 1,500 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of The Pennant Group in the 4th quarter valued at $244,000. Finally, Nuveen Asset Management LLC grew its holdings in shares of The Pennant Group by 29.7% in the 4th quarter. Nuveen Asset Management LLC now owns 457,364 shares of the company's stock worth $12,129,000 after purchasing an additional 104,697 shares during the last quarter. 85.88% of the stock is owned by institutional investors.

Insider Buying and Selling at The Pennant Group

In other The Pennant Group news, Director Joanne Stringfield sold 5,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $29.47, for a total transaction 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 approximately $892,204.25. The trade was a 14.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.40% of the company's stock.

The Pennant Group Price Performance

Shares of The Pennant Group stock traded down $0.72 during trading on Monday, reaching $28.83. The company's stock had a trading volume of 154,083 shares, compared to its average volume of 223,952. The stock has a 50-day moving average price of $27.03 and a two-hundred day moving average price of $26.82. The stock has a market capitalization of $993.74 million, a P/E ratio of 42.40, a price-to-earnings-growth ratio of 2.24 and a beta of 1.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58. The Pennant Group, Inc. has a one year low of $21.18 and a one year high of $37.13.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PNTG. Stephens reissued an "overweight" rating and set a $38.00 price target on shares of The Pennant Group in a report on Wednesday, April 2nd. Wells Fargo & Company raised their price objective on shares of The Pennant Group from $30.00 to $31.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Finally, Truist Financial lifted their target price 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. 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.com, The Pennant Group has an average rating of "Moderate Buy" and an average price target of $35.20.

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.