PDT Partners LLC Decreases Stock Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

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

Several other institutional investors have also modified their holdings of the company. Barclays PLC raised its position in shares of The Pennant Group by 375.0% in the third quarter. Barclays PLC now owns 49,101 shares of the company’s stock valued at $1,753,000 after buying an additional 38,763 shares during the last quarter. Tidal Investments LLC acquired a new position in The Pennant Group in the 3rd quarter valued at $506,000. Franklin Resources Inc. lifted its stake in shares of The Pennant Group by 26.6% during the 3rd quarter. Franklin Resources Inc. now owns 18,347 shares of the company’s stock worth $638,000 after purchasing an additional 3,859 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of The Pennant Group by 14.5% during the third quarter. Principal Financial Group Inc. now owns 12,626 shares of the company’s stock worth $451,000 after purchasing an additional 1,597 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of 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 purchasing an additional 83,664 shares during the period. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. 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 cut 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 issued a buy rating to the company. According to data from MarketBeat.com, The Pennant Group has a consensus rating of “Moderate Buy” and an average target price of $34.80.

The Pennant Group Price Performance

PNTG opened at $26.69 on Friday. The Pennant Group, Inc. has a 52-week low of $20.78 and a 52-week high of $37.13. The company has a 50 day moving average of $24.66 and a two-hundred day moving average of $27.65. The company has a market cap of $926.73 million, a P/E ratio of 39.25, a P/E/G ratio of 2.24 and a beta of 1.73. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58.

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.