Fmr LLC Buys 1,377,815 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

FMR LLC increased its position in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 54.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,906,327 shares of the company's stock after buying an additional 1,377,815 shares during the quarter. FMR LLC owned about 11.37% of The Pennant Group worth $103,596,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Corebridge Financial Inc. raised its holdings 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 purchasing an additional 954 shares in the last quarter. Arizona State Retirement System boosted its position 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 purchasing an additional 1,121 shares during the period. Hillsdale Investment Management Inc. increased its stake in The Pennant Group by 0.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 190,882 shares of the company's stock worth $5,062,000 after purchasing an additional 1,200 shares in the last quarter. Principal Financial Group Inc. lifted its stake in The Pennant Group by 10.9% during the fourth 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 in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of The Pennant Group by 6.0% in the fourth quarter. Rhumbline Advisers now owns 43,673 shares of the company's stock worth $1,158,000 after buying an additional 2,480 shares during the period. Institutional investors own 85.88% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Truist Financial lowered 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 report on Friday, March 7th. Stephens reissued an "overweight" rating and set a $38.00 price target on shares of The Pennant Group in a research 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 stock. According to data from MarketBeat.com, The Pennant Group has a consensus rating of "Moderate Buy" and an average price target of $34.80.

The Pennant Group Stock Down 0.3 %

PNTG traded down $0.07 during trading on Friday, reaching $26.13. 224,261 shares of the stock traded hands, compared to its average volume of 225,394. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12. The Pennant Group, Inc. has a fifty-two week low of $19.64 and a fifty-two week high of $37.13. The stock's 50-day simple moving average is $24.75 and its two-hundred day simple moving average is $28.20. The stock has a market cap of $907.29 million, a price-to-earnings ratio of 38.43, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73.

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.