Kings Path Partners LLC Has $524,000 Holdings in The Pennant Group, Inc. $PNTG

Kings Path Partners LLC grew its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 45.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,550 shares of the company’s stock after acquiring an additional 5,515 shares during the period. Kings Path Partners LLC’s holdings in The Pennant Group were worth $524,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in The Pennant Group by 8.6% during the first quarter. Rhumbline Advisers now owns 47,423 shares of the company’s stock worth $1,193,000 after acquiring an additional 3,750 shares during the last quarter. Jane Street Group LLC acquired a new stake in The Pennant Group during the first quarter worth approximately $297,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in The Pennant Group by 4.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 81,392 shares of the company’s stock worth $2,047,000 after acquiring an additional 3,507 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in The Pennant Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,394 shares of the company’s stock worth $488,000 after acquiring an additional 857 shares during the last quarter. Finally, Bosun Asset Management LLC acquired a new stake in The Pennant Group during the first quarter worth approximately $249,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PNTG has been the subject of several research reports. Truist Financial cut their price objective on shares of The Pennant Group from $32.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, July 16th. Stephens restated an “overweight” rating and set a $40.00 price objective on shares of The Pennant Group in a research report on Thursday, September 4th. Wells Fargo & Company lowered their target price on shares of The Pennant Group from $31.00 to $29.00 and set an “equal weight” rating on the stock in a report on Thursday, August 14th. Finally, Wall Street Zen cut shares of The Pennant Group from a “buy” rating to a “hold” rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.40.

The Pennant Group Stock Down 0.5%

Shares of PNTG opened at $25.58 on Friday. The Pennant Group, Inc. has a 12 month low of $21.18 and a 12 month high of $37.13. The firm’s 50 day moving average is $24.34 and its 200-day moving average is $25.71. The stock has a market capitalization of $884.10 million, a PE ratio of 32.79, a P/E/G ratio of 2.12 and a beta of 1.31. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.11.

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.