Universal Beteiligungs und Servicegesellschaft mbH Buys Shares of 17,035 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 purchased a new stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 17,035 shares of the company's stock, valued at approximately $428,000.

Several other large investors have also modified their holdings of PNTG. Summit Investment Advisors Inc. raised its holdings in shares of The Pennant Group by 20.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company's stock valued at $91,000 after buying an additional 575 shares during the last quarter. Corebridge Financial Inc. increased its position in The Pennant Group by 6.2% during the fourth quarter. Corebridge Financial Inc. now owns 16,227 shares of the company's stock worth $430,000 after buying an additional 954 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of The Pennant Group during the 1st quarter worth about $25,000. Turtle Creek Asset Management Inc. raised its holdings in The Pennant Group by 150.0% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 2,500 shares of the company's stock valued at $66,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Quarry LP boosted its stake in The Pennant Group by 166.8% in the 4th quarter. Quarry LP now owns 2,705 shares of the company's stock valued at $72,000 after buying an additional 1,691 shares in the last quarter. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

The Pennant Group Price Performance

NASDAQ PNTG traded up $2.30 on Thursday, reaching $24.56. 371,822 shares of the company's stock traded hands, compared to its average volume of 229,162. The stock has a 50-day simple moving average of $26.18 and a 200 day simple moving average of $26.06. The Pennant Group, Inc. has a 12 month low of $21.18 and a 12 month high of $37.13. The stock has a market cap of $846.70 million, a PE ratio of 32.31, a P/E/G ratio of 1.89 and a beta of 1.48. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.41 and a quick ratio of 1.41.

Insider Buying and Selling

In other news, Director Joanne Stringfield sold 5,000 shares of the 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 transaction, the director directly owned 30,275 shares of the company's stock, valued at $892,204.25. This represents a 14.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.40% of the company's stock.

Analysts Set New Price Targets

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

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.