Raymond James Financial Inc. Invests $2.57 Million in The Pennant Group, Inc. (NASDAQ:PNTG)

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

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on PNTG. Stephens reissued an "overweight" rating and issued a $38.00 target price on shares of The Pennant Group in a report on Wednesday, April 2nd. Truist Financial reduced their target price on The Pennant Group from $32.00 to $28.00 and set a "hold" rating on the stock in a research note on Friday, March 7th. 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 company presently has an average rating of "Moderate Buy" and a consensus target price of $34.80.

The Pennant Group Stock Down 0.9 %

Shares of NASDAQ:PNTG traded down $0.25 during midday trading on Monday, hitting $26.45. 2,560 shares of the company's stock traded hands, compared to its average volume of 224,221. The firm's fifty day moving average price is $24.66 and its two-hundred day moving average price is $27.54. The company has a market cap of $918.22 million, a PE ratio of 38.89, a P/E/G ratio of 2.24 and a beta of 1.56. The Pennant Group, Inc. has a twelve month low of $20.78 and a twelve month high of $37.13. 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 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.