Zimmer Partners LP Purchases Shares of 150,000 The Pennant Group, Inc. (NASDAQ:PNTG)

Zimmer Partners LP purchased a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 150,000 shares of the company's stock, valued at approximately $3,978,000. Zimmer Partners LP owned 0.44% of The Pennant Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Turtle Creek Asset Management Inc. lifted its position 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 acquiring an additional 1,500 shares during the period. Quarry LP raised its stake in The Pennant Group by 166.8% in 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. Summit Investment Advisors Inc. lifted its position in The Pennant Group by 20.3% during 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. Public Employees Retirement Association of Colorado acquired a new stake in The Pennant Group during the fourth quarter worth about $122,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in The Pennant Group during the fourth quarter worth about $188,000. Institutional investors and hedge funds own 85.88% of the company's stock.

The Pennant Group Price Performance

Shares of PNTG traded down $0.29 during mid-day trading on Monday, reaching $27.77. The company had a trading volume of 140,723 shares, compared to its average volume of 224,158. The company's 50 day simple moving average is $26.22 and its 200 day simple moving average is $27.07. The company has a market capitalization of $957.20 million, a price-to-earnings ratio of 40.84, a P/E/G ratio of 2.24 and a beta of 1.56. The Pennant Group, Inc. has a 1-year low of $21.18 and a 1-year high of $37.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12.

Insiders Place Their Bets

In other news, Director Joanne Stringfield sold 5,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $29.47, for a total transaction of $147,350.00. Following the sale, the director now directly owns 30,275 shares in the company, valued at approximately $892,204.25. The trade was a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.40% of the company's stock.

Analyst Ratings Changes

PNTG has been the subject of several analyst reports. Stephens restated an "overweight" rating and issued a $38.00 target price on shares of The Pennant Group in a research report on Wednesday, April 2nd. Truist Financial boosted their price objective on shares of The Pennant Group from $28.00 to $32.00 and gave the company a "hold" rating in a research report on Monday, May 12th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock 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.