The Pennant Group, Inc. (NASDAQ:PNTG) Shares Sold by PDT Partners LLC

PDT Partners LLC cut its position in The Pennant Group, Inc. (NASDAQ:PNTG) by 19.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,316 shares of the company’s stock after selling 3,158 shares during the quarter. PDT Partners LLC’s holdings in The Pennant Group were worth $353,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PNTG. Summit Investment Advisors Inc. grew its position in shares of The Pennant Group by 20.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company’s stock worth $91,000 after acquiring an additional 575 shares during the last quarter. Corebridge Financial Inc. boosted its stake in The Pennant Group by 6.2% during the 4th quarter. Corebridge Financial Inc. now owns 16,227 shares of the company’s stock worth $430,000 after purchasing an additional 954 shares during the period. Arizona State Retirement System increased its stake in The Pennant Group by 13.0% in the fourth quarter. Arizona State Retirement System now owns 9,773 shares of the company’s stock valued at $259,000 after purchasing an additional 1,121 shares during the period. Hillsdale Investment Management Inc. raised its holdings in shares of The Pennant Group by 0.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 190,882 shares of the company’s stock valued at $5,062,000 after buying an additional 1,200 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of The Pennant Group by 10.9% during the fourth quarter. Principal Financial Group Inc. now owns 14,000 shares of the company’s stock worth $371,000 after buying an additional 1,374 shares during the period. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on PNTG shares. Stephens reaffirmed an “overweight” rating and set a $38.00 price objective on shares of The Pennant Group in a research note on Wednesday, April 2nd. Truist Financial dropped their target price on The Pennant Group from $32.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, March 7th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.80.

The Pennant Group Price Performance

Shares of PNTG opened at $26.69 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’s 50 day moving average is $24.66 and its two-hundred day moving average is $27.65. The Pennant Group, Inc. has a twelve month low of $20.78 and a twelve month high of $37.13. The firm has a market capitalization of $926.73 million, a PE ratio of 39.25, a P/E/G ratio of 2.24 and a beta of 1.73.

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.