Adage Capital Partners GP L.L.C. Invests $1.96 Million in The Pennant Group, Inc. (NASDAQ:PNTG)

Adage Capital Partners GP L.L.C. acquired a new stake in The Pennant Group, Inc. (NASDAQ:PNTG) during the fourth quarter, HoldingsChannel reports. The fund acquired 74,000 shares of the company’s stock, valued at approximately $1,962,000.

Other institutional investors also recently bought and sold shares of the company. Summit Investment Advisors Inc. boosted its holdings in shares of The Pennant Group by 20.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company’s stock valued at $91,000 after acquiring an additional 575 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in The Pennant Group in the fourth quarter valued at about $188,000. LPL Financial LLC purchased a new stake in The Pennant Group in the 4th quarter valued at approximately $225,000. Arizona State Retirement System increased its position in The Pennant Group by 13.0% during the 4th quarter. Arizona State Retirement System now owns 9,773 shares of the company’s stock worth $259,000 after purchasing an additional 1,121 shares during the period. Finally, Integrated Quantitative Investments LLC purchased a new position in shares of The Pennant Group during the 4th quarter worth approximately $264,000. 85.88% of the stock is owned by institutional investors and hedge funds.

The Pennant Group Stock Up 1.1 %

PNTG opened at $25.82 on Wednesday. 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 company has a market cap of $896.52 million, a price-to-earnings ratio of 37.97, a PEG ratio of 2.24 and a beta of 1.73. The Pennant Group, Inc. has a one year low of $20.23 and a one year high of $37.13. The business’s fifty day moving average is $24.62 and its two-hundred day moving average is $27.78.

Wall Street Analysts Forecast Growth

PNTG has been the topic of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and set a $38.00 price objective on shares of The Pennant Group in a report on Wednesday, April 2nd. Truist Financial lowered their price target on shares of 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 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 Pennant Group has a consensus rating of “Moderate Buy” and an average target price of $34.80.

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.