Invesco Ltd. Has $1.18 Million Stake in The Pennant Group, Inc. (NASDAQ:PNTG)

Invesco Ltd. lowered its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 70.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,520 shares of the company's stock after selling 104,556 shares during the quarter. Invesco Ltd. owned 0.13% of The Pennant Group worth $1,181,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PNTG. FMR LLC raised its stake in The Pennant Group by 54.5% in the 4th quarter. FMR LLC now owns 3,906,327 shares of the company's stock valued at $103,596,000 after purchasing an additional 1,377,815 shares during the last quarter. Russell Investments Group Ltd. raised its position in The Pennant Group by 22.6% in the fourth quarter. Russell Investments Group Ltd. now owns 211,724 shares of the company's stock valued at $5,615,000 after purchasing an additional 38,987 shares during the period. Wells Fargo & Company MN grew its position in The Pennant Group by 63.7% in the fourth quarter. Wells Fargo & Company MN now owns 15,920 shares of the company's stock valued at $422,000 after acquiring an additional 6,197 shares in the last quarter. Integrated Quantitative Investments LLC acquired a new position in The Pennant Group in the 4th quarter worth $264,000. Finally, ExodusPoint Capital Management LP increased its holdings in The Pennant Group by 111.3% during the 4th quarter. ExodusPoint Capital Management LP now owns 41,515 shares of the company's stock worth $1,101,000 after purchasing an additional 21,864 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company's stock.

The Pennant Group Price Performance

Shares of PNTG traded up $0.92 during trading hours on Wednesday, hitting $27.76. The stock had a trading volume of 404,752 shares, compared to its average volume of 225,274. The company's fifty day moving average is $24.81 and its two-hundred day moving average is $27.48. The Pennant Group, Inc. has a 52 week low of $20.91 and a 52 week high of $37.13. The stock has a market capitalization of $963.88 million, a price-to-earnings ratio of 40.82, a P/E/G ratio of 2.24 and a beta of 1.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Truist Financial lowered their target price on The Pennant Group from $32.00 to $28.00 and set a "hold" rating for the company in a report on Friday, March 7th. Stephens reaffirmed an "overweight" rating and set a $38.00 price objective on shares of The Pennant Group in a research note on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, The Pennant Group presently has an average rating of "Moderate Buy" and an average target price of $34.80.

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.