The Pennant Group, Inc. $PNTG Shares Sold by Riverbridge Partners LLC

Key Points

• Riverbridge Partners LLC reduced its stake in The Pennant Group, Inc. by 13.1%, holding 807,137 shares worth approximately $24 million after the sale.
• As of now, institutional investors own about 85.88% of The Pennant Group's stock, reflecting strong institutional interest in the company.
• Analysts have mixed opinions on the stock, with price targets ranging from $28.00 to $40.00, and a consensus rating of "Moderate Buy."

Riverbridge Partners LLC cut its holdings in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 13.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 807,137 shares of the company's stock after selling 121,474 shares during the period. Riverbridge Partners LLC owned about 2.34% of The Pennant Group worth $24,093,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. NBC Securities Inc. purchased a new position in shares of The Pennant Group during the first quarter worth about $25,000. State of Wyoming grew its holdings in shares of The Pennant Group by 41.3% during the first quarter. State of Wyoming now owns 6,170 shares of the company's stock worth $155,000 after purchasing an additional 1,803 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of The Pennant Group by 7,124.5% during the first quarter. GAMMA Investing LLC now owns 7,947 shares of the company's stock worth $200,000 after purchasing an additional 7,837 shares during the last quarter. ProShare Advisors LLC purchased a new position in shares of The Pennant Group during the fourth quarter worth about $244,000. Finally, Bosun Asset Management LLC purchased a new position in shares of The Pennant Group during the first quarter worth about $249,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

The Pennant Group Trading Up 1.6%

Shares of The Pennant Group stock opened at $24.90 on Thursday. 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, Inc. has a 1 year low of $21.18 and a 1 year high of $37.13. The company has a market capitalization of $860.59 million, a P/E ratio of 31.92, a P/E/G ratio of 2.02 and a beta of 1.31. The business has a 50 day moving average price of $24.23 and a 200 day moving average price of $25.77.

Wall Street Analysts Forecast Growth

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

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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