PDT Partners LLC Buys 29,061 Shares of The Pennant Group, Inc. $PNTG

Key Points

• PDT Partners LLC significantly increased its stake in The Pennant Group, Inc. by 218.2%, acquiring a total of 42,377 shares worth approximately $1,066,000.
• Several institutional investors have also raised their investments in The Pennant Group, with 85.88% of the stock now owned by such entities.
• Analysts have issued mixed ratings on PNTG, with an average price target set at $33.40 and three analysts rating it as a Buy, while two have given it a Hold rating.

PDT Partners LLC grew its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 218.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,377 shares of the company's stock after purchasing an additional 29,061 shares during the period. PDT Partners LLC owned approximately 0.12% of The Pennant Group worth $1,066,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Versor Investments LP grew its holdings in shares of The Pennant Group by 6.2% during the first quarter. Versor Investments LP now owns 12,000 shares of the company's stock worth $302,000 after purchasing an additional 700 shares during the last quarter. NBC Securities Inc. acquired a new position in The Pennant Group during the 1st quarter worth approximately $25,000. Turtle Creek Asset Management Inc. boosted its stake 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 worth $66,000 after acquiring an additional 1,500 shares in the last quarter. State of Wyoming boosted its stake in shares of The Pennant Group by 41.3% during the 1st quarter. State of Wyoming now owns 6,170 shares of the company's stock worth $155,000 after acquiring an additional 1,803 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in The Pennant Group by 18.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,537 shares of the company's stock valued at $492,000 after buying an additional 2,890 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.

The Pennant Group Price Performance

PNTG traded up $0.20 during midday trading on Tuesday, reaching $24.71. 97,895 shares of the company's stock were exchanged, compared to its average volume of 255,458. The firm has a market capitalization of $853.80 million, a price-to-earnings ratio of 31.67, a price-to-earnings-growth ratio of 2.00 and a beta of 1.31. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.11. The Pennant Group, Inc. has a one year low of $21.18 and a one year high of $37.13. The business has a 50-day simple moving average of $24.44 and a two-hundred day simple moving average of $25.72.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial cut their target price on The Pennant Group from $32.00 to $28.00 and set a "hold" rating on the stock in a research report on Wednesday, July 16th. Wells Fargo & Company decreased their target price on The Pennant Group from $31.00 to $29.00 and set an "equal weight" rating for the company in a research note on Thursday, August 14th. Stephens restated an "overweight" rating and issued a $40.00 target price on shares of The Pennant Group in a research note on Thursday, September 4th. Finally, Wall Street Zen downgraded The Pennant Group from a "buy" rating to a "hold" rating in a research report on Friday. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.40.

About The Pennant Group

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.