The Pennant Group, Inc. (NASDAQ:PNTG) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 68.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 205,922 shares of the company's stock after acquiring an additional 83,664 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.60% of The Pennant Group worth $7,351,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PNTG. Quarry LP lifted its position in The Pennant Group by 371.6% during the third quarter. Quarry LP now owns 1,014 shares of the company's stock worth $36,000 after buying an additional 799 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of 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 purchasing an additional 2,720 shares in the last quarter. USA Financial Formulas acquired a new stake in The Pennant Group during the 3rd quarter worth approximately $121,000. Intech Investment Management LLC purchased a new position in The Pennant Group in the third quarter valued at $232,000. Finally, Summit Global Investments purchased a new position in shares of The Pennant Group in the 3rd quarter valued at about $254,000. Hedge funds and other institutional investors own 85.88% of the company's stock.

The Pennant Group Stock Performance

Shares of NASDAQ:PNTG traded up $1.26 during midday trading on Wednesday, hitting $27.77. The stock had a trading volume of 220,068 shares, compared to its average volume of 219,856. The Pennant Group, Inc. has a 1 year low of $14.84 and a 1 year high of $37.13. 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 has a 50 day moving average price of $29.36 and a two-hundred day moving average price of $30.74. The company has a market capitalization of $953.84 million, a PE ratio of 40.84, a P/E/G ratio of 2.99 and a beta of 1.93.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Truist Financial dropped their price target on shares of The Pennant Group from $38.00 to $32.00 and set a "hold" rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company assumed coverage on The Pennant Group in a research report on Thursday, December 19th. They issued an "equal weight" rating and a $33.00 target price for the company. Royal Bank of Canada lifted their price target on The Pennant Group from $26.00 to $38.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Oppenheimer increased their price objective on The Pennant Group from $34.00 to $37.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Finally, Stephens restated an "overweight" rating and set a $40.00 target price on shares of The Pennant Group in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.00.

The Pennant Group Company 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.