Universal Beteiligungs und Servicegesellschaft mbH Buys New Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired 17,035 shares of The Pennant Group, Inc., valued at approximately $428,000, during the first quarter.
• The Pennant Group's stock has experienced a recent price target adjustment, with Truist Financial lowering it from $32.00 to $28.00 while Wells Fargo raised it from $30.00 to $31.00.
• Insider activity showed a significant 14.17% decrease in ownership as Director Joanne Stringfield sold 5,000 shares at an average price of $29.47.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,035 shares of the company's stock, valued at approximately $428,000.

Other large investors have also added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in The Pennant Group in the 1st quarter worth approximately $25,000. Turtle Creek Asset Management Inc. boosted its stake in The Pennant Group by 150.0% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,500 shares of the company's stock valued at $66,000 after buying an additional 1,500 shares during the period. Quarry LP grew its position in The Pennant Group by 166.8% during the fourth quarter. Quarry LP now owns 2,705 shares of the company's stock worth $72,000 after buying an additional 1,691 shares in the last quarter. Summit Investment Advisors Inc. increased its stake 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 acquiring an additional 575 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of The Pennant Group in the 4th quarter valued at about $122,000. Institutional investors own 85.88% of the company's stock.

The Pennant Group Trading Up 0.4%

Shares of NASDAQ PNTG traded up $0.09 during midday trading on Monday, reaching $22.16. The company had a trading volume of 193,592 shares, compared to its average volume of 289,534. The stock has a market cap of $763.86 million, a PE ratio of 29.16, a price-to-earnings-growth ratio of 1.88 and a beta of 1.48. The Pennant Group, Inc. has a one year low of $21.18 and a one year high of $37.13. The firm's fifty day moving average price is $26.53 and its 200-day moving average price is $26.15. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.81.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PNTG shares. Truist Financial lowered their target price on shares of The Pennant Group from $32.00 to $28.00 and set a "hold" rating on the stock in a research note on Wednesday, July 16th. Stephens reiterated an "overweight" rating and set a $35.00 price objective on shares of The Pennant Group in a research report on Tuesday, June 10th. Finally, Wells Fargo & Company raised their price objective on The Pennant Group from $30.00 to $31.00 and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.80.

Insider Activity

In related news, Director Joanne Stringfield sold 5,000 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $29.47, for a total transaction of $147,350.00. Following the completion of the sale, the director directly owned 30,275 shares in the company, valued at $892,204.25. This represents a 14.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.40% of the company's stock.

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.