Rhumbline Advisers Increases Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Rhumbline Advisers grew its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 6.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 43,673 shares of the company’s stock after purchasing an additional 2,480 shares during the period. Rhumbline Advisers owned approximately 0.13% of The Pennant Group worth $1,158,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. FMR LLC increased its position in The Pennant Group by 51.3% during the 3rd quarter. FMR LLC now owns 2,528,512 shares of the company’s stock valued at $90,268,000 after buying an additional 856,838 shares in the last quarter. Atom Investors LP purchased a new stake in shares of The Pennant Group in the third quarter worth $3,981,000. JPMorgan Chase & Co. increased its holdings in shares of The Pennant Group by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company’s stock valued at $7,351,000 after acquiring an additional 83,664 shares in the last quarter. Barclays PLC raised its position in shares of The Pennant Group by 375.0% in the 3rd quarter. Barclays PLC now owns 49,101 shares of the company’s stock worth $1,753,000 after purchasing an additional 38,763 shares during the last quarter. Finally, Systematic Financial Management LP bought a new position in The Pennant Group in the 3rd quarter worth about $1,069,000. 85.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Truist Financial reduced their price objective on shares of The Pennant Group from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company assumed 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 target on the stock. Finally, Oppenheimer boosted their price objective on shares of The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.00.

The Pennant Group Price Performance

Shares of NASDAQ:PNTG opened at $23.46 on Thursday. The business has a 50-day simple moving average of $26.35 and a two-hundred day simple moving average of $30.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $807.73 million, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 2.24 and a beta of 2.06. The Pennant Group, Inc. has a fifty-two week low of $18.21 and a fifty-two week high of $37.13.

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.