Price T Rowe Associates Inc. MD Lowers Stock Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

Price T Rowe Associates Inc. MD trimmed its holdings in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 36.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,946 shares of the company's stock after selling 20,688 shares during the period. Price T Rowe Associates Inc. MD owned 0.10% of The Pennant Group worth $954,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Summit Investment Advisors Inc. raised its position in shares of 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 during the period. KLP Kapitalforvaltning AS purchased a new stake in The Pennant Group in the fourth quarter valued at approximately $188,000. LPL Financial LLC acquired a new position in The Pennant Group during the fourth quarter worth $225,000. Arizona State Retirement System boosted its position in shares of The Pennant Group by 13.0% during the fourth quarter. Arizona State Retirement System now owns 9,773 shares of the company's stock worth $259,000 after buying an additional 1,121 shares during the period. Finally, Integrated Quantitative Investments LLC purchased a new position in shares of The Pennant Group during the fourth quarter worth $264,000. Institutional investors and hedge funds own 85.88% of the company's stock.

The Pennant Group Stock Down 0.3%

NASDAQ:PNTG traded down $0.10 during trading hours on Thursday, hitting $29.21. The company's stock had a trading volume of 33,864 shares, compared to its average volume of 224,598. The Pennant Group, Inc. has a 52-week low of $21.18 and a 52-week high of $37.13. 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 stock has a market capitalization of $1.01 billion, a P/E ratio of 42.93, a price-to-earnings-growth ratio of 2.24 and a beta of 1.56. The stock has a fifty day moving average of $25.42 and a 200-day moving average of $27.32.

Analysts Set New Price Targets

PNTG has been the topic of several research analyst reports. Truist Financial boosted their price objective on The Pennant Group from $28.00 to $32.00 and gave the company a "hold" rating in a report on Monday. Stephens reiterated an "overweight" rating and set a $38.00 price target on shares of The Pennant Group in a research note on Wednesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $35.60.

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.