Voloridge Investment Management LLC Acquires New Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

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

Several other institutional investors and hedge funds have also made changes to their positions in the company. Summit Investment Advisors Inc. boosted its holdings in The Pennant Group by 20.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company's stock worth $91,000 after purchasing an additional 575 shares during the period. Corebridge Financial Inc. lifted its position in shares of The Pennant Group by 6.2% in the 4th 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. Arizona State Retirement System boosted its holdings in shares of The Pennant Group by 13.0% in the 4th quarter. Arizona State Retirement System now owns 9,773 shares of the company's stock valued at $259,000 after buying an additional 1,121 shares during the period. Hillsdale Investment Management Inc. boosted its holdings in shares of The Pennant Group by 0.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 190,882 shares of the company's stock valued at $5,062,000 after buying an additional 1,200 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of The Pennant Group by 10.9% during the 4th quarter. Principal Financial Group Inc. now owns 14,000 shares of the company's stock valued at $371,000 after buying an additional 1,374 shares during the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.

The Pennant Group Stock Performance

NASDAQ PNTG traded up $0.12 on Monday, hitting $28.83. The stock had a trading volume of 213,506 shares, compared to its average volume of 223,272. The company's 50-day moving average is $26.70 and its two-hundred day moving average is $26.88. The Pennant Group, Inc. has a one year low of $21.18 and a one year high of $37.13. The stock has a market cap of $993.74 million, a price-to-earnings ratio of 42.40, a P/E/G ratio of 2.24 and a beta of 1.56. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58.

Insider Activity

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

Wall Street Analyst Weigh In

PNTG has been the subject of a number of research reports. Truist Financial lifted their target price on The Pennant Group from $28.00 to $32.00 and gave the company a "hold" rating in a research note on Monday, May 12th. Stephens reissued an "overweight" rating and issued a $38.00 price target on shares of The Pennant Group in a report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, The Pennant Group currently has an average rating of "Moderate Buy" and an average price target of $35.60.

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.