Geode Capital Management LLC Acquires 85,496 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Geode Capital Management LLC raised its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 12.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 767,628 shares of the company's stock after acquiring an additional 85,496 shares during the quarter. Geode Capital Management LLC owned about 2.23% of The Pennant Group worth $20,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position 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 valued at $59,977,000 after buying an additional 223,919 shares during the period. Van Berkom & Associates Inc. boosted its position in 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 valued at $58,297,000 after buying an additional 2,117,859 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of 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 worth $11,002,000 after purchasing an additional 36,100 shares during the period. Charles Schwab Investment Management Inc. raised its stake in The Pennant Group by 17.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 284,391 shares of the company's stock worth $7,542,000 after buying an additional 41,648 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in The Pennant Group by 68.4% in the third quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company's stock worth $7,351,000 after acquiring an additional 83,664 shares in the last quarter. Institutional investors own 85.88% of the company's stock.

The Pennant Group Price Performance

The Pennant Group stock traded up $0.56 during midday trading on Thursday, reaching $25.81. 18,919 shares of the stock traded hands, compared to its average volume of 225,244. The Pennant Group, Inc. has a 12 month low of $20.11 and a 12 month high of $37.13. The stock has a market cap of $896.00 million, a P/E ratio of 37.94, a PEG 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 stock's fifty day moving average is $24.68 and its 200-day moving average is $28.03.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Truist Financial reduced their price target on The Pennant Group from $32.00 to $28.00 and set a "hold" rating for the company in a research report on Friday, March 7th. Stephens reiterated an "overweight" rating and set a $38.00 target price on shares of The Pennant Group in a research report on Wednesday, April 2nd. Two 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, The Pennant Group has an average rating of "Moderate Buy" and an average price target of $34.80.

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.