Zimmer Partners LP Invests $3.98 Million in The Pennant Group, Inc. (NASDAQ:PNTG)

Zimmer Partners LP purchased a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 150,000 shares of the company's stock, valued at approximately $3,978,000. Zimmer Partners LP owned approximately 0.44% of The Pennant Group at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Turtle Creek Asset Management Inc. grew its stake 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 purchasing an additional 1,500 shares during the period. Quarry LP boosted its holdings in shares of 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 during the last quarter. Summit Investment Advisors Inc. grew 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 valued at $91,000 after buying an additional 575 shares during the period. Public Employees Retirement Association of Colorado bought a new position in The Pennant Group during the fourth quarter valued at about $122,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in The Pennant Group during the fourth quarter worth about $188,000. 85.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on PNTG. Stephens reiterated an "overweight" rating and issued a $38.00 target price on shares of The Pennant Group in a research note on Wednesday, April 2nd. Truist Financial upped their price objective 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.60.

The Pennant Group Price Performance

NASDAQ PNTG opened at $29.43 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. The company has a market cap of $1.01 billion, a PE ratio of 43.28, a price-to-earnings-growth ratio of 2.24 and a beta of 1.56. The Pennant Group, Inc. has a 52 week low of $21.18 and a 52 week high of $37.13. The firm's 50-day simple moving average is $25.97 and its two-hundred day simple moving average is $27.19.

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.

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