Freedom Investment Management Inc. Trims Position in The Pennant Group, Inc. $PNTG

Freedom Investment Management Inc. cut its position in The Pennant Group, Inc. (NASDAQ:PNTG) by 11.9% in the second quarter, HoldingsChannel.com reports. The firm owned 17,103 shares of the company’s stock after selling 2,304 shares during the quarter. Freedom Investment Management Inc.’s holdings in The Pennant Group were worth $511,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cubist Systematic Strategies LLC increased its stake in shares of The Pennant Group by 205.9% in the first quarter. Cubist Systematic Strategies LLC now owns 97,527 shares of the company’s stock worth $2,453,000 after purchasing an additional 65,640 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of The Pennant Group in the second quarter worth $211,000. Mackenzie Financial Corp increased its stake in shares of The Pennant Group by 25.2% in the first quarter. Mackenzie Financial Corp now owns 22,446 shares of the company’s stock worth $565,000 after purchasing an additional 4,522 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of The Pennant Group in the first quarter worth $285,000. Finally, Nuveen LLC purchased a new stake in shares of The Pennant Group in the first quarter worth $9,181,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

The Pennant Group Price Performance

PNTG stock opened at $25.24 on Friday. The Pennant Group, Inc. has a 52 week low of $21.18 and a 52 week high of $34.39. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $24.70 and a two-hundred day simple moving average of $25.85. The firm has a market capitalization of $872.29 million, a P/E ratio of 32.36, a price-to-earnings-growth ratio of 2.13 and a beta of 1.35.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PNTG. Jefferies Financial Group assumed coverage on shares of The Pennant Group in a research note on Friday. They issued a “buy” rating and a $30.00 price objective for the company. Wells Fargo & Company cut their target price on shares of The Pennant Group from $31.00 to $29.00 and set an “equal weight” rating for the company in a research note on Thursday, August 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Pennant Group in a research note on Tuesday, October 14th. Wall Street Zen cut shares of The Pennant Group from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Stephens reaffirmed an “overweight” rating and set a $40.00 target price on shares of The Pennant Group in a research note on Thursday, October 9th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.80.

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.