96,918 Shares in The Pennant Group, Inc. (NASDAQ:PNTG) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 96,918 shares of the company's stock, valued at approximately $2,570,000. Raymond James Financial Inc. owned approximately 0.28% of The Pennant Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Van Berkom & Associates Inc. raised its holdings in shares of The Pennant Group by 2,635.6% in the fourth quarter. Van Berkom & Associates Inc. now owns 2,198,216 shares of the company's stock worth $58,297,000 after buying an additional 2,117,859 shares during the last quarter. FMR LLC raised its position in The Pennant Group by 54.5% during the 4th quarter. FMR LLC now owns 3,906,327 shares of the company's stock worth $103,596,000 after buying an additional 1,377,815 shares during the last quarter. Vanguard Group Inc. lifted its stake in The Pennant Group by 11.0% during the 4th quarter. Vanguard Group Inc. now owns 2,261,564 shares of the company's stock valued at $59,977,000 after acquiring an additional 223,919 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of The Pennant Group by 61.8% in the 4th quarter. Renaissance Technologies LLC now owns 223,900 shares of the company's stock valued at $5,938,000 after acquiring an additional 85,500 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of The Pennant Group by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 767,628 shares of the company's stock worth $20,362,000 after acquiring an additional 85,496 shares during the period. 85.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Stephens reaffirmed an "overweight" rating and issued a $38.00 price target on shares of The Pennant Group in a report on Wednesday, April 2nd. Truist Financial lowered their price objective on 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, The Pennant Group has an average rating of "Moderate Buy" and an average price target of $34.80.

The Pennant Group Price Performance

Shares of PNTG stock traded up $1.27 during trading hours on Friday, hitting $26.69. 167,163 shares of the company's stock were exchanged, compared to its average volume of 224,958. The firm has a 50 day moving average of $24.64 and a two-hundred day moving average of $27.70. The Pennant Group, Inc. has a fifty-two week low of $20.78 and a fifty-two week high of $37.13. The firm has a market cap of $926.73 million, a P/E ratio of 39.25, a P/E/G ratio of 2.24 and a beta of 1.73. 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 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.