Walleye Capital LLC Takes $2 Million Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Walleye Capital LLC purchased a new stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 75,489 shares of the company's stock, valued at approximately $2,002,000. Walleye Capital LLC owned approximately 0.22% of The Pennant Group as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PNTG. 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 worth $91,000 after purchasing an additional 575 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of The Pennant Group in the 4th quarter valued at about $188,000. HighTower Advisors LLC acquired a new position in The Pennant Group during the 3rd quarter worth approximately $282,000. LPL Financial LLC purchased a new position in shares of The Pennant Group in the fourth quarter valued at $225,000. Finally, Arizona State Retirement System boosted its stake in shares of The Pennant Group by 13.0% in the fourth quarter. Arizona State Retirement System now owns 9,773 shares of the company's stock valued at $259,000 after purchasing an additional 1,121 shares during the period. Hedge funds and other institutional investors own 85.88% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stephens restated an "overweight" rating and issued a $38.00 target price on shares of The Pennant Group in a research note on Wednesday, April 2nd. Truist Financial dropped their target price on shares of The Pennant Group from $32.00 to $28.00 and set a "hold" rating on the stock in a report on Friday, March 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $34.80.

The Pennant Group Price Performance

PNTG traded up $0.54 on Thursday, reaching $25.79. The company had a trading volume of 33,046 shares, compared to its average volume of 225,289. The company has a fifty day moving average of $24.68 and a 200-day moving average of $28.03. The company has a market capitalization of $895.31 million, a P/E ratio of 37.92, a PEG ratio of 2.24 and a beta of 1.73. 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 Pennant Group, Inc. has a one year low of $20.11 and a one year high of $37.13.

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.