State Street Corp Sells 1,085 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

State Street Corp decreased its stake in The Pennant Group, Inc. (NASDAQ:PNTG) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 677,968 shares of the company’s stock after selling 1,085 shares during the period. State Street Corp owned about 1.97% of The Pennant Group worth $24,203,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PNTG. Systematic Financial Management LP bought a new position in The Pennant Group in the third quarter valued at $1,069,000. Quarry LP increased its position in shares of The Pennant Group by 371.6% during the 3rd quarter. Quarry LP now owns 1,014 shares of the company’s stock valued at $36,000 after purchasing an additional 799 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of The Pennant Group during the 3rd quarter valued at about $685,000. HighTower Advisors LLC purchased a new position in shares of The Pennant Group during the 3rd quarter valued at about $282,000. Finally, Atom Investors LP bought a new stake in The Pennant Group in the 3rd quarter worth approximately $3,981,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Wall Street Analyst Weigh In

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

The Pennant Group Stock Up 0.3 %

NASDAQ:PNTG opened at $27.38 on Monday. The firm has a 50-day simple moving average of $31.80 and a two-hundred day simple moving average of $30.24. The Pennant Group, Inc. has a fifty-two week low of $13.66 and a fifty-two week high of $37.13. 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 $940.45 million, a P/E ratio of 40.27, a P/E/G ratio of 2.99 and a beta of 1.95.

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.