The Pennant Group, Inc. (NASDAQ:PNTG) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 62.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 40,603 shares of the company's stock after selling 68,432 shares during the period. Teacher Retirement System of Texas owned approximately 0.12% of The Pennant Group worth $1,021,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNTG. NBC Securities Inc. acquired a new stake in shares of The Pennant Group during the 1st quarter valued at about $25,000. Turtle Creek Asset Management Inc. grew its position in shares of The Pennant Group by 150.0% during the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,500 shares of the company's stock valued at $66,000 after acquiring an additional 1,500 shares during the period. Quarry LP boosted its holdings in The Pennant Group by 166.8% in 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. boosted 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 during the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in The Pennant Group in the 4th quarter worth about $122,000. 85.88% of the stock is owned by institutional investors and hedge funds.

The Pennant Group Trading Down 2.2%

PNTG opened at $25.23 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.41 and a quick ratio of 1.41. The company's 50 day simple moving average is $28.13 and its two-hundred day simple moving average is $26.48. The Pennant Group, Inc. has a 1-year low of $21.18 and a 1-year high of $37.13. The firm has a market capitalization of $869.68 million, a price-to-earnings ratio of 33.20, a price-to-earnings-growth ratio of 2.14 and a beta of 1.51.

Insiders Place Their Bets

In other The Pennant Group news, Director Joanne Stringfield sold 5,000 shares of the firm'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 directly owned 30,275 shares of the company's stock, valued at $892,204.25. This trade represents a 14.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PNTG shares. Truist Financial lifted their price objective on The Pennant Group from $28.00 to $32.00 and gave the stock a "hold" rating in a report on Monday, May 12th. Wells Fargo & Company lifted their price objective on 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, Stephens reiterated an "overweight" rating and issued a $35.00 price objective on shares of The Pennant Group in a report on Tuesday, June 10th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.

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