Bank of America Corp DE lifted its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 94.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,340 shares of the company's stock after acquiring an additional 59,286 shares during the quarter. Bank of America Corp DE owned about 0.36% of The Pennant Group worth $3,244,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in PNTG. Summit Investment Advisors Inc. lifted its holdings 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 buying an additional 575 shares in the last quarter. Corebridge Financial Inc. grew its position 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 during the last quarter. Arizona State Retirement System grew its position 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 during the last quarter. Hillsdale Investment Management Inc. grew its position 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 during the last quarter. Finally, Principal Financial Group Inc. grew its position in The Pennant Group by 10.9% in the 4th quarter. Principal Financial Group Inc. now owns 14,000 shares of the company's stock worth $371,000 after purchasing an additional 1,374 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company's stock.
Insider Buying and Selling 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 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 transaction, the director now directly owns 30,275 shares in the company, valued at $892,204.25. This trade represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.40% of the company's stock.
The Pennant Group Trading Up 1.2%
Shares of NASDAQ:PNTG traded up $0.34 during mid-day trading on Tuesday, hitting $29.17. The stock had a trading volume of 91,236 shares, compared to its average volume of 222,754. 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 $1.01 billion, a PE ratio of 42.90, a P/E/G 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. The company's 50 day moving average is $26.70 and its 200-day moving average is $26.88.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on PNTG shares. Stephens reaffirmed an "overweight" rating and issued a $38.00 price target on shares of The Pennant Group in a research note on Wednesday, April 2nd. Truist Financial upped 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 note on Monday, May 12th. Finally, Wells Fargo & Company upped 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 note on Tuesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $35.20.
View Our Latest Stock Analysis on PNTG
The Pennant Group Profile
(
Free Report)
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.
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