Teacher Retirement System of Texas lessened its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 62.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,603 shares of the company's stock after selling 68,432 shares during the quarter. Teacher Retirement System of Texas owned about 0.12% of The Pennant Group worth $1,021,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in The Pennant Group in the 1st quarter valued at $25,000. Turtle Creek Asset Management Inc. raised its position in 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 during the last quarter. Quarry LP raised its position in The Pennant Group by 166.8% during the 4th quarter. Quarry LP now owns 2,705 shares of the company's stock worth $72,000 after buying an additional 1,691 shares during the last quarter. Summit Investment Advisors Inc. raised its position in The Pennant Group by 20.3% during 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 during the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new position in The Pennant Group during the 4th quarter worth $122,000. Hedge funds and other institutional investors own 85.88% of the company's stock.
Analyst Upgrades and Downgrades
PNTG has been the subject of a number of analyst reports. Stephens restated an "overweight" rating and set a $35.00 price objective on shares of The Pennant Group in a research report on Tuesday, June 10th. Wells Fargo & Company upped 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 research report on Tuesday, June 3rd. Finally, Truist Financial cut 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 report on Wednesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.80.
Check Out Our Latest Analysis on PNTG
Insider Activity
In other news, Director Joanne Stringfield sold 5,000 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $29.47, for a total value of $147,350.00. Following the completion of the transaction, the director owned 30,275 shares in the company, valued at $892,204.25. This trade represents a 14.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.40% of the stock is owned by corporate insiders.
The Pennant Group Price Performance
Shares of PNTG traded up $0.15 during trading hours on Thursday, reaching $23.91. The company had a trading volume of 386,877 shares, compared to its average volume of 236,447. The firm has a 50 day simple moving average of $27.89 and a 200-day simple moving average of $26.43. 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 company has a market capitalization of $824.18 million, a price-to-earnings ratio of 31.46, a PEG 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.
About The Pennant Group
(
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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