T. Rowe Price Investment Management Inc. Sells 751,905 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

T. Rowe Price Investment Management Inc. lowered its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 53.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 650,695 shares of the company's stock after selling 751,905 shares during the period. 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 quarter.

A number of other hedge funds have also added to or reduced their stakes in PNTG. Susquehanna International Group LLP raised its holdings in shares of The Pennant Group by 44.5% during the fourth quarter. Susquehanna International Group LLP now owns 63,132 shares of the company's stock valued at $1,674,000 after purchasing an additional 19,446 shares during the period. Tower Research Capital LLC TRC boosted its holdings in The Pennant Group by 441.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,995 shares of the company's stock worth $265,000 after acquiring an additional 8,149 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in The Pennant Group by 23.2% in the fourth quarter. MetLife Investment Management LLC now owns 19,903 shares of the company's stock worth $528,000 after acquiring an additional 3,747 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in The Pennant Group by 6.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 817,857 shares of the company's stock valued at $21,689,000 after acquiring an additional 50,502 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of The Pennant Group by 465.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 10,164 shares of the company's stock valued at $269,000 after acquiring an additional 8,367 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors.

The Pennant Group Stock Up 5.0 %

NASDAQ PNTG traded up $1.27 on Friday, reaching $26.69. The company had a trading volume of 167,163 shares, compared to its average volume of 225,108. 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 stock has a market capitalization 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's fifty day moving average is $24.66 and its 200 day moving average is $27.59. The Pennant Group, Inc. has a 52-week low of $20.78 and a 52-week high of $37.13.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. 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 price objective 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, The Pennant Group 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.