Arrowstreet Capital Limited Partnership Sells 27,055 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Arrowstreet Capital Limited Partnership reduced its holdings in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 8.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 304,607 shares of the company's stock after selling 27,055 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.89% of The Pennant Group worth $8,078,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PNTG. Franklin Resources Inc. grew its position in The Pennant Group by 26.6% in the third quarter. Franklin Resources Inc. now owns 18,347 shares of the company's stock worth $638,000 after acquiring an additional 3,859 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of The Pennant Group by 68.4% in the 3rd 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 last quarter. Barclays PLC increased its position in shares of The Pennant Group by 375.0% during the 3rd quarter. Barclays PLC now owns 49,101 shares of the company's stock valued at $1,753,000 after purchasing an additional 38,763 shares during the last quarter. Geode Capital Management LLC raised its holdings in The Pennant Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 682,132 shares of the company's stock valued at $24,357,000 after buying an additional 2,963 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in The Pennant Group in the third quarter worth $685,000. 85.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PNTG. Wells Fargo & Company assumed coverage on shares of The Pennant Group in a research note on Thursday, December 19th. They issued an "equal weight" rating and a $33.00 target price on the stock. Truist Financial reduced their price objective on shares of The Pennant Group from $32.00 to $28.00 and set a "hold" rating on the stock in a research report on Friday, March 7th. Finally, Stephens restated an "overweight" rating and set a $38.00 target price on shares of The Pennant Group in a research report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $34.80.

The Pennant Group Trading Up 1.2 %

Shares of PNTG traded up $0.31 during trading hours on Friday, reaching $25.37. 132,552 shares of the company traded hands, compared to its average volume of 224,015. The stock's fifty day moving average price is $24.85 and its 200 day moving average price is $28.45. 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 firm has a market cap of $873.49 million, a price-to-earnings ratio of 37.31, a PEG ratio of 2.24 and a beta of 1.73. The Pennant Group, Inc. has a 12-month low of $19.37 and a 12-month high of $37.13.

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.