The Pennant Group, Inc. (NASDAQ:PNTG) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. increased its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 26.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,347 shares of the company’s stock after acquiring an additional 3,859 shares during the period. Franklin Resources Inc. owned about 0.05% of The Pennant Group worth $638,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PNTG. Creative Planning boosted its position in The Pennant Group by 2.0% in the 2nd quarter. Creative Planning now owns 19,152 shares of the company’s stock valued at $444,000 after buying an additional 373 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of The Pennant Group by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 11,227 shares of the company’s stock worth $260,000 after buying an additional 471 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of The Pennant Group by 4.0% during the third quarter. D.A. Davidson & CO. now owns 15,126 shares of the company’s stock worth $540,000 after buying an additional 575 shares during the period. Quarry LP raised its holdings in The Pennant Group by 371.6% in the third quarter. Quarry LP now owns 1,014 shares of the company’s stock valued at $36,000 after acquiring an additional 799 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in The Pennant Group by 9.9% in the second quarter. Principal Financial Group Inc. now owns 11,029 shares of the company’s stock worth $256,000 after acquiring an additional 991 shares during the last quarter. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

The Pennant Group Stock Down 1.5 %

PNTG opened at $26.22 on Tuesday. The company has a market cap of $900.60 million, a PE ratio of 38.56, a P/E/G ratio of 2.99 and a beta of 1.95. 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 business has a 50 day moving average price of $30.97 and a two-hundred day moving average price of $30.43. The Pennant Group, Inc. has a 52 week low of $13.77 and a 52 week high of $37.13.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Stephens reissued an “overweight” rating and issued a $40.00 target price on shares of The Pennant Group in a report on Wednesday, October 9th. Wells Fargo & Company initiated coverage on shares of The Pennant Group in a report on Thursday, December 19th. They set an “equal weight” rating and a $33.00 price objective on the stock. Oppenheimer upped their target price on shares of The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Royal Bank of Canada lifted their target price on The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial upped their target price on The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.20.

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.