T. Rowe Price Investment Management Inc. cut its position in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 53.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 650,695 shares of the company's stock after selling 751,905 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 1.89% of The Pennant Group worth $17,257,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Summit Investment Advisors Inc. increased its position in The Pennant Group by 20.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company's stock valued at $91,000 after buying an additional 575 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of The Pennant Group during the fourth quarter valued at about $188,000. LPL Financial LLC purchased a new position in shares of The Pennant Group in the 4th quarter valued at approximately $225,000. Arizona State Retirement System boosted its stake in The Pennant Group by 13.0% in the 4th quarter. Arizona State Retirement System now owns 9,773 shares of the company's stock worth $259,000 after purchasing an additional 1,121 shares in the last quarter. Finally, Integrated Quantitative Investments LLC purchased a new stake in The Pennant Group during the 4th quarter worth approximately $264,000. 85.88% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have issued reports 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 reduced their target price on The Pennant Group from $32.00 to $28.00 and set a "hold" rating for the company in a research note on Friday, March 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, The Pennant Group has a consensus rating of "Moderate Buy" and a consensus price target of $34.80.
Read Our Latest Analysis on PNTG
The Pennant Group Stock Performance
Shares of PNTG stock traded down $0.20 during trading hours on Thursday, hitting $25.42. The company's stock had a trading volume of 132,411 shares, compared to its average volume of 224,886. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $24.63 and a 200 day moving average of $27.77. The Pennant Group, Inc. has a 12-month low of $20.78 and a 12-month high of $37.13. The stock has a market cap of $882.63 million, a PE ratio of 37.38, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73.
The Pennant Group Profile
(
Free Report)
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.
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