Swiss National Bank Raises Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Swiss National Bank lifted its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,000 shares of the company’s stock after acquiring an additional 6,900 shares during the quarter. Swiss National Bank owned 0.19% of The Pennant Group worth $1,750,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Van Berkom & Associates Inc. grew its stake in The Pennant Group by 2,635.6% during the 4th quarter. Van Berkom & Associates Inc. now owns 2,198,216 shares of the company’s stock worth $58,297,000 after purchasing an additional 2,117,859 shares in the last quarter. FMR LLC boosted its stake in shares of The Pennant Group by 51.3% in 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 during the period. Atom Investors LP acquired a new position in shares of The Pennant Group during the third quarter worth about $3,981,000. Raymond James Financial Inc. purchased a new stake in shares of The Pennant Group during the fourth quarter worth approximately $2,570,000. Finally, JPMorgan Chase & Co. raised its holdings in The Pennant Group by 68.4% in 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. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Wall Street Analysts Forecast Growth

PNTG has been the subject of several analyst reports. Wells Fargo & Company started coverage on shares of The Pennant Group in a research report on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 price objective on the stock. Truist Financial lowered their target price on shares of The Pennant Group from $32.00 to $28.00 and set a “hold” rating for the company in a research note on Friday, March 7th. Finally, Stephens restated an “overweight” rating and issued a $38.00 price target on shares of The Pennant Group in a research note on Tuesday, March 11th. 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.80.

The Pennant Group Price Performance

Shares of NASDAQ PNTG opened at $24.61 on Friday. 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 stock has a market cap of $847.32 million, a P/E ratio of 36.19, a P/E/G ratio of 2.24 and a beta of 2.06. The stock has a 50 day moving average of $25.40 and a two-hundred day moving average of $29.26. The Pennant Group, Inc. has a twelve month low of $19.37 and a twelve month 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.