Arizona State Retirement System Buys 1,121 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Arizona State Retirement System grew its stake in The Pennant Group, Inc. (NASDAQ:PNTG) by 13.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,773 shares of the company’s stock after acquiring an additional 1,121 shares during the quarter. Arizona State Retirement System’s holdings in The Pennant Group were worth $259,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Proficio Capital Partners LLC purchased a new stake in The Pennant Group during the 4th quarter valued at about $487,000. Charles Schwab Investment Management Inc. grew its stake in shares of The Pennant Group by 17.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 284,391 shares of the company’s stock worth $7,542,000 after acquiring an additional 41,648 shares during the period. Versor Investments LP purchased a new position in shares of The Pennant Group during the fourth quarter valued at approximately $300,000. Bank of New York Mellon Corp lifted its holdings in shares of The Pennant Group by 3.0% during the 4th quarter. Bank of New York Mellon Corp now owns 110,963 shares of the company’s stock valued at $2,943,000 after buying an additional 3,233 shares during the period. Finally, Navellier & Associates Inc. boosted its stake in shares of The Pennant Group by 86.3% in the 4th quarter. Navellier & Associates Inc. now owns 45,627 shares of the company’s stock worth $1,210,000 after buying an additional 21,141 shares during the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

The Pennant Group Stock Performance

PNTG stock opened at $23.51 on Friday. The firm has a market cap of $809.45 million, a price-to-earnings ratio of 34.57, a PEG ratio of 2.24 and a beta of 2.06. The Pennant Group, Inc. has a twelve month low of $18.28 and a twelve month high of $37.13. 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’s fifty day simple moving average is $25.84 and its two-hundred day simple moving average is $29.85.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Stephens reiterated an “overweight” rating and issued a $38.00 price objective on shares of The Pennant Group in a research note on Tuesday, March 11th. Wells Fargo & Company assumed coverage on The Pennant Group in a research report on Thursday, December 19th. They set an “equal weight” rating and a $33.00 target price on the stock. Finally, Truist Financial decreased their price objective on The Pennant Group from $32.00 to $28.00 and set a “hold” rating on the stock in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, The Pennant Group presently has an average rating of “Moderate Buy” and an average price target of $34.80.

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.