Cubist Systematic Strategies LLC Sells 29,804 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Cubist Systematic Strategies LLC reduced its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 64.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,248 shares of the company’s stock after selling 29,804 shares during the period. Cubist Systematic Strategies LLC owned 0.05% of The Pennant Group worth $377,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PNTG. Sei Investments Co. increased its stake in The Pennant Group by 679.7% in the 1st quarter. Sei Investments Co. now owns 136,026 shares of the company’s stock valued at $2,670,000 after buying an additional 118,581 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in The Pennant Group by 292.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,738 shares of the company’s stock worth $504,000 after acquiring an additional 16,200 shares during the period. Bailard Inc. purchased a new position in The Pennant Group in the second quarter worth $253,000. Principal Financial Group Inc. bought a new position in The Pennant Group in the 1st quarter valued at $197,000. Finally, ClariVest Asset Management LLC increased its position in shares of The Pennant Group by 14.9% during the 1st quarter. ClariVest Asset Management LLC now owns 87,850 shares of the company’s stock valued at $1,724,000 after purchasing an additional 11,359 shares during the last quarter. 85.88% of the stock is owned by institutional investors.

The Pennant Group Price Performance

NASDAQ PNTG opened at $33.79 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.02 billion, a PE ratio of 62.57, a price-to-earnings-growth ratio of 3.48 and a beta of 2.01. The Pennant Group, Inc. has a 52 week low of $10.31 and a 52 week high of $37.13. The firm’s 50-day simple moving average is $33.03 and its two-hundred day simple moving average is $26.69.

The Pennant Group (NASDAQ:PNTG) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The Pennant Group had a net margin of 3.16% and a return on equity of 13.74%. The company had revenue of $168.75 million for the quarter, compared to analysts’ expectations of $156.71 million. Research analysts predict that The Pennant Group, Inc. will post 0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PNTG shares. Stephens reissued an “overweight” rating and issued a $40.00 price target on shares of The Pennant Group in a report on Wednesday, October 9th. Oppenheimer increased their target price on shares of The Pennant Group from $28.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Truist Financial lifted their price target on shares of The Pennant Group from $34.00 to $38.00 and gave the stock a “hold” rating in a report on Monday, October 7th.

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.