Ancora Advisors LLC Sells 107,406 Shares of The Pennant Group, Inc. $PNTG

Key Points

• Ancora Advisors LLC reduced its stake in The Pennant Group by 54.9%, selling 107,406 shares, and now holds 88,068 shares worth approximately $2.22 million.
• Other institutional investors, such as PDT Partners LLC and Cubist Systematic Strategies LLC, have significantly increased their holdings, indicating heightened interest in the stock.
• Despite a recent target price cut from $32.00 to $28.00 by Truist Financial, The Pennant Group still holds a "Moderate Buy" rating with an average price target of $34.40 from analysts.

Ancora Advisors LLC reduced its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 54.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,068 shares of the company's stock after selling 107,406 shares during the period. Ancora Advisors LLC owned approximately 0.26% of The Pennant Group worth $2,215,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Two Sigma Advisers LP raised its position in The Pennant Group by 144.8% during the fourth quarter. Two Sigma Advisers LP now owns 131,700 shares of the company's stock valued at $3,493,000 after purchasing an additional 77,900 shares in the last quarter. SG Americas Securities LLC raised its position in The Pennant Group by 56.9% during the first quarter. SG Americas Securities LLC now owns 23,413 shares of the company's stock valued at $589,000 after purchasing an additional 8,490 shares in the last quarter. GAMMA Investing LLC raised its position in The Pennant Group by 7,124.5% during the first quarter. GAMMA Investing LLC now owns 7,947 shares of the company's stock valued at $200,000 after purchasing an additional 7,837 shares in the last quarter. Millennium Management LLC raised its position in The Pennant Group by 1,274.9% during the fourth quarter. Millennium Management LLC now owns 181,767 shares of the company's stock valued at $4,820,000 after purchasing an additional 168,547 shares in the last quarter. Finally, Rhumbline Advisers raised its position in The Pennant Group by 8.6% during the first quarter. Rhumbline Advisers now owns 47,423 shares of the company's stock valued at $1,193,000 after purchasing an additional 3,750 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of The Pennant Group from $31.00 to $29.00 and set an "equal weight" rating for the company in a report on Thursday, August 14th. Stephens reiterated an "overweight" rating and set a $40.00 price target on shares of The Pennant Group in a report on Thursday, September 4th. Wall Street Zen downgraded shares of The Pennant Group from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Finally, Truist Financial lowered their price target on shares of The Pennant Group from $32.00 to $28.00 and set a "hold" rating for the company in a report on Wednesday, July 16th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $34.40.

The Pennant Group Trading Down 0.4%

NASDAQ PNTG traded down $0.09 on Wednesday, reaching $24.74. The company had a trading volume of 140,749 shares, compared to its average volume of 255,779. The firm has a market cap of $855.06 million, a price-to-earnings ratio of 31.81, a P/E/G ratio of 2.02 and a beta of 1.31. The Pennant Group, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $37.13. The business has a 50 day moving average of $24.39 and a two-hundred day moving average of $25.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.21 and a quick ratio of 1.21.

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.