Renaissance Technologies LLC Raises Stock Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Renaissance Technologies LLC raised its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 61.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 223,900 shares of the company's stock after acquiring an additional 85,500 shares during the period. Renaissance Technologies LLC owned approximately 0.65% of The Pennant Group worth $5,938,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PNTG. FMR LLC boosted its holdings in The Pennant Group by 54.5% in the fourth quarter. FMR LLC now owns 3,906,327 shares of the company's stock worth $103,596,000 after purchasing an additional 1,377,815 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of The Pennant Group by 11.0% in the 4th quarter. Vanguard Group Inc. now owns 2,261,564 shares of the company's stock worth $59,977,000 after buying an additional 223,919 shares during the last quarter. Van Berkom & Associates Inc. boosted its stake in shares of The Pennant Group by 2,635.6% in the 4th 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. Geode Capital Management LLC increased its position in The Pennant Group by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 767,628 shares of the company's stock valued at $20,362,000 after acquiring an additional 85,496 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in The Pennant Group by 9.5% during the fourth quarter. First Eagle Investment Management LLC now owns 414,848 shares of the company's stock valued at $11,002,000 after acquiring an additional 36,100 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PNTG shares. Stephens restated an "overweight" rating and set a $38.00 price target on shares of The Pennant Group in a research note on Wednesday, April 2nd. Truist Financial reduced their target price on shares of The Pennant Group from $32.00 to $28.00 and set a "hold" rating for the company in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $34.80.

The Pennant Group Stock Performance

Shares of NASDAQ PNTG traded up $0.41 during trading on Thursday, hitting $25.66. The company had a trading volume of 26,738 shares, compared to its average volume of 211,683. The stock has a 50 day simple moving average of $24.68 and a 200 day simple moving average of $28.03. The firm has a market capitalization of $890.97 million, a P/E ratio of 37.74, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73. 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, Inc. has a 12 month low of $20.11 and a 12 month high of $37.13.

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.