Freestone Grove Partners LP Makes New Investment in The Pennant Group, Inc. (NASDAQ:PNTG)

Freestone Grove Partners LP acquired a new stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,497 shares of the company's stock, valued at approximately $305,000.

Several other institutional investors have also recently modified their holdings of PNTG. Quarry LP increased its holdings in 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 period. Summit Investment Advisors Inc. increased its stake in shares of 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 acquiring an additional 575 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in shares of The Pennant Group during the fourth quarter worth $122,000. KLP Kapitalforvaltning AS acquired a new position in The Pennant Group during the fourth quarter valued at $188,000. Finally, LPL Financial LLC purchased a new stake in The Pennant Group in the fourth quarter valued at $225,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

The Pennant Group Price Performance

The Pennant Group stock traded up $0.23 during trading on Friday, reaching $28.40. The company had a trading volume of 421,200 shares, compared to its average volume of 226,343. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $986.10 million, a PE ratio of 41.77, a price-to-earnings-growth 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 firm's 50-day simple moving average is $25.04 and its 200 day simple moving average is $27.37.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial reduced their price target on The Pennant Group from $32.00 to $28.00 and set a "hold" rating for the company in a research report on Friday, March 7th. 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, The Pennant Group presently has a consensus rating of "Moderate Buy" and an average price target of $34.80.

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.