Two Sigma Advisers LP Raises Stake in The Pennant Group, Inc. (NASDAQ:PNTG)

Two Sigma Advisers LP lifted its stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 144.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 131,700 shares of the company's stock after purchasing an additional 77,900 shares during the quarter. Two Sigma Advisers LP owned about 0.38% of The Pennant Group worth $3,493,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Barclays PLC increased its position in The Pennant Group by 22.3% during the fourth quarter. Barclays PLC now owns 60,070 shares of the company's stock worth $1,593,000 after purchasing an additional 10,969 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in The Pennant Group by 10.9% in the fourth quarter. Principal Financial Group Inc. now owns 14,000 shares of the company's stock valued at $371,000 after acquiring an additional 1,374 shares during the last quarter. SG Americas Securities LLC grew its position in The Pennant Group by 36.6% in the fourth quarter. SG Americas Securities LLC now owns 14,923 shares of the company's stock worth $396,000 after acquiring an additional 3,997 shares during the period. Proficio Capital Partners LLC acquired a new stake in The Pennant Group during the fourth quarter worth $487,000. Finally, Charles Schwab Investment Management Inc. increased its stake in The Pennant Group by 17.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 284,391 shares of the company's stock worth $7,542,000 after acquiring an additional 41,648 shares during the last quarter. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

The Pennant Group Trading Up 2.8%

Shares of PNTG traded up $0.79 during midday trading on Friday, hitting $28.84. 110,895 shares of the stock were exchanged, compared to its average volume of 222,526. The Pennant Group, Inc. has a 52-week low of $21.18 and a 52-week high of $37.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a fifty day simple moving average of $26.54 and a 200 day simple moving average of $27.00. The firm has a market cap of $993.91 million, a P/E ratio of 42.48, a P/E/G ratio of 2.24 and a beta of 1.56.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Stephens reiterated an "overweight" rating and set a $38.00 price target on shares of The Pennant Group in a report on Wednesday, April 2nd. Truist Financial upped their target price on shares of The Pennant Group from $28.00 to $32.00 and gave the company a "hold" rating in a research report on Monday, May 12th. Two equities research 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 an average price target of $35.60.

Insider Buying and Selling at The Pennant Group

In other news, Director Joanne Stringfield sold 5,000 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $29.47, for a total transaction of $147,350.00. Following the sale, the director now owns 30,275 shares of the company's stock, valued at approximately $892,204.25. This represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.40% of the stock is currently owned by corporate insiders.

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.