Voloridge Investment Management LLC Makes New $1.28 Million Investment in The Pennant Group, Inc. (NASDAQ:PNTG)

Voloridge Investment Management LLC purchased a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 48,353 shares of the company's stock, valued at approximately $1,282,000. Voloridge Investment Management LLC owned 0.14% of The Pennant Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Turtle Creek Asset Management Inc. grew its stake in shares of The Pennant Group by 150.0% during the 4th 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 lifted its holdings in The Pennant Group by 166.8% in the 4th 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. lifted its holdings 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 buying an additional 575 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in shares of The Pennant Group in the 4th quarter valued at about $122,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in The Pennant Group during the fourth quarter worth about $188,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Pennant Group

In other The Pennant Group news, Director Joanne Stringfield sold 5,000 shares of The Pennant Group 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 transaction, the director now directly owns 30,275 shares of the company's stock, valued at $892,204.25. The trade was a 14.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.40% of the company's stock.

Wall Street Analysts Forecast Growth

PNTG has been the subject of several recent analyst reports. Truist Financial upped their target price on shares of The Pennant Group from $28.00 to $32.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. Stephens restated an "overweight" rating and set a $38.00 price target on shares of The Pennant Group in a research note on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.60.

The Pennant Group Stock Performance

Shares of PNTG stock traded up $1.01 on Friday, hitting $29.06. The company's stock had a trading volume of 207,969 shares, compared to its average volume of 223,129. 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's 50 day moving average is $26.62 and its 200-day moving average is $26.97. The Pennant Group, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $37.13. The company has a market capitalization of $1.00 billion, a PE ratio of 42.74, a PEG ratio of 2.24 and a beta of 1.56.

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.