Zurcher Kantonalbank Zurich Cantonalbank Has $399,000 Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank has reduced its stake in The Pennant Group, Inc. by 44.7%, now holding 15,882 shares worth approximately $399,000.
• Analysts have mixed ratings on The Pennant Group, with two maintaining a "hold" rating, while four analysts issued a "buy" rating and set a consensus target price of $33.80.
• A director of The Pennant Group, Joanne Stringfield, sold 5,000 shares at an average price of $29.47, resulting in a total value of $147,350, marking a 14.17% decrease in her ownership.

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 44.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,882 shares of the company's stock after selling 12,823 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in The Pennant Group were worth $399,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PNTG. NBC Securities Inc. acquired a new position in The Pennant Group in the 1st quarter valued at about $25,000. Turtle Creek Asset Management Inc. boosted its holdings in The Pennant Group by 150.0% in 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 grew 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 worth $72,000 after acquiring an additional 1,691 shares during the period. Summit Investment Advisors Inc. grew its holdings 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 acquiring an additional 575 shares during the period. Finally, Public Employees Retirement Association of Colorado acquired a new position in The Pennant Group during the fourth quarter worth $122,000. Hedge funds and other institutional investors own 85.88% of the company's stock.

The Pennant Group Stock Down 0.4%

Shares of PNTG traded down $0.12 during trading hours on Wednesday, hitting $26.68. 59,327 shares of the company were exchanged, compared to its average volume of 240,411. The company has a market cap of $922.06 million, a PE ratio of 34.41, a PEG ratio of 2.22 and a beta of 1.48. The firm's 50 day moving average is $25.94 and its 200-day moving average is $26.00. The Pennant Group, Inc. has a 52 week low of $21.18 and a 52 week high of $37.13. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.21 and a current ratio of 1.21.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Stephens reiterated an "overweight" rating and set a $35.00 target price on shares of The Pennant Group in a research report on Tuesday, June 10th. Wells Fargo & Company lifted their target price on The Pennant Group from $30.00 to $31.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Wall Street Zen upgraded The Pennant Group from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Truist Financial cut 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 research note on Wednesday, July 16th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $33.80.

Insider Buying and Selling at The Pennant Group

In related 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 completion of the transaction, the director owned 30,275 shares of the company's stock, valued at approximately $892,204.25. The trade was a 14.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.40% of the company's stock.

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.