Atom Investors LP Takes $3.98 Million Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Atom Investors LP acquired a new stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 111,520 shares of the company's stock, valued at approximately $3,981,000. Atom Investors LP owned about 0.32% of The Pennant Group as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Creative Planning increased its stake in shares of The Pennant Group by 2.0% during the second quarter. Creative Planning now owns 19,152 shares of the company's stock worth $444,000 after purchasing an additional 373 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of The Pennant Group by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,227 shares of the company's stock worth $260,000 after buying an additional 471 shares during the last quarter. D.A. Davidson & CO. raised its position in The Pennant Group by 4.0% in the third quarter. D.A. Davidson & CO. now owns 15,126 shares of the company's stock valued at $540,000 after purchasing an additional 575 shares during the period. Principal Financial Group Inc. boosted its stake in The Pennant Group by 9.9% during the second quarter. Principal Financial Group Inc. now owns 11,029 shares of the company's stock worth $256,000 after buying an additional 991 shares during the period. Finally, Trust Point Inc. raised its position in The Pennant Group by 9.7% in the third quarter. Trust Point Inc. now owns 24,926 shares of the company's stock valued at $890,000 after purchasing an additional 2,199 shares during the period. 85.88% of the stock is currently owned by institutional investors and hedge funds.

The Pennant Group Trading Up 1.2 %

NASDAQ:PNTG traded up $0.38 during mid-day trading on Monday, reaching $31.56. The company's stock had a trading volume of 183,823 shares, compared to its average volume of 200,851. The company's fifty day simple moving average is $33.17 and its two-hundred day simple moving average is $29.62. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12. The Pennant Group, Inc. has a twelve month low of $13.24 and a twelve month high of $37.13. The stock has a market cap of $1.08 billion, a P/E ratio of 46.41, a P/E/G ratio of 3.18 and a beta of 2.02.

Wall Street Analysts Forecast Growth

PNTG has been the subject of several research reports. Stephens restated an "overweight" rating and issued a $40.00 price target on shares of The Pennant Group in a research note on Wednesday, October 9th. Oppenheimer lifted their price target on shares of The Pennant Group from $34.00 to $37.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Truist Financial lifted their target price on shares of The Pennant Group from $34.00 to $38.00 and gave the company a "hold" rating in a report on Monday, October 7th. Finally, Royal Bank of Canada boosted their target price on The Pennant Group from $26.00 to $38.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd.

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.