Vanguard Group Inc. Trims Holdings in The Pennant Group, Inc. $PNTG

Key Points

• Vanguard Group Inc. has decreased its holdings in The Pennant Group, Inc. by 6.0%, now owning approximately 2.13 million shares, valued at $53.49 million.
• A number of institutional investors, including Van Berkom & Associates Inc. and Nuveen Asset Management LLC, have increased their stakes in The Pennant Group, with institutional ownership now at 85.88%.
• Several analysts have adjusted price targets for The Pennant Group, with an average rating of "Moderate Buy" and a price target of $33.40.

Vanguard Group Inc. lessened its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,126,880 shares of the company's stock after selling 134,684 shares during the quarter. Vanguard Group Inc. owned approximately 6.13% of The Pennant Group worth $53,491,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in The Pennant Group during the first quarter valued at $25,000. Turtle Creek Asset Management Inc. lifted its holdings 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 purchasing an additional 1,500 shares in the last quarter. Quarry LP lifted its holdings in The Pennant Group by 166.8% during the fourth quarter. Quarry LP now owns 2,705 shares of the company's stock valued at $72,000 after purchasing an additional 1,691 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in The Pennant Group during the fourth quarter valued at $122,000. Finally, GAMMA Investing LLC lifted its holdings 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. Institutional investors and hedge funds own 85.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PNTG. Wall Street Zen raised shares of The Pennant Group from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Stephens reaffirmed an "overweight" rating and set a $35.00 price objective on shares of The Pennant Group in a report on Tuesday, June 10th. Wells Fargo & Company decreased their price objective on shares of 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. Finally, Truist Financial decreased their price objective 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. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, The Pennant Group currently has an average rating of "Moderate Buy" and an average target price of $33.40.

The Pennant Group Trading Down 1.2%

PNTG stock traded down $0.28 during trading on Friday, reaching $24.01. 243,289 shares of the stock were exchanged, compared to its average volume of 251,662. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average price of $25.11 and a 200-day moving average price of $25.82. The Pennant Group, Inc. has a 1 year low of $21.18 and a 1 year high of $37.13. The firm has a market capitalization of $829.83 million, a price-to-earnings ratio of 30.78, a P/E/G ratio of 2.01 and a beta of 1.48.

The Pennant Group Company 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.