Charles Schwab Investment Management Inc. Grows Stock Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

Charles Schwab Investment Management Inc. raised its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 17.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,391 shares of the company's stock after buying an additional 41,648 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.83% of The Pennant Group worth $7,542,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quarry LP grew its stake in The Pennant Group by 371.6% during the 3rd quarter. Quarry LP now owns 1,014 shares of the company's stock valued at $36,000 after acquiring an additional 799 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in The Pennant Group by 460.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company's stock worth $118,000 after buying an additional 2,720 shares during the last quarter. Intech Investment Management LLC purchased a new stake in The Pennant Group in the 3rd quarter valued at $232,000. HighTower Advisors LLC acquired a new stake in shares of The Pennant Group in the 3rd quarter worth $282,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of The Pennant Group during the 3rd quarter worth $363,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PNTG has been the topic of a number of analyst reports. Wells Fargo & Company initiated coverage on shares of The Pennant Group in a research note on Thursday, December 19th. They set an "equal weight" rating and a $33.00 target price on the stock. Stephens reaffirmed an "overweight" rating and set a $38.00 price target on shares of The Pennant Group in a research report on Tuesday, March 11th. Finally, Truist Financial lowered their price objective on The Pennant Group from $32.00 to $28.00 and set a "hold" rating for the company in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, The Pennant Group has a consensus rating of "Moderate Buy" and an average price target of $34.80.

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The Pennant Group Stock Up 2.5 %

NASDAQ:PNTG traded up $0.62 during midday trading on Thursday, reaching $25.42. The company had a trading volume of 174,150 shares, compared to its average volume of 214,549. The Pennant Group, Inc. has a 12-month low of $19.28 and a 12-month high of $37.13. The firm has a market capitalization of $875.21 million, a price-to-earnings ratio of 37.38, a PEG ratio of 2.24 and a beta of 2.06. 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 stock's fifty day simple moving average is $25.50 and its 200-day simple moving average is $29.35.

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.