The Pennant Group, Inc. (NASDAQ:PNTG) Shares Acquired by Navellier & Associates Inc.

Navellier & Associates Inc. raised its position in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 86.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,627 shares of the company's stock after purchasing an additional 21,141 shares during the period. Navellier & Associates Inc. owned 0.13% of The Pennant Group worth $1,210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PNTG. Quarry LP boosted its holdings in shares of The Pennant Group by 371.6% in the 3rd quarter. Quarry LP now owns 1,014 shares of the company's stock valued at $36,000 after buying an additional 799 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings 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 during the last quarter. Intech Investment Management LLC acquired a new stake in shares of The Pennant Group during the third quarter worth about $232,000. Summit Global Investments purchased a new stake in shares of The Pennant Group in the 3rd quarter valued at about $254,000. Finally, HighTower Advisors LLC acquired a new stake in shares of The Pennant Group in the 3rd quarter valued at about $282,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial reduced their price objective on The Pennant Group from $38.00 to $32.00 and set a "hold" rating for the company in a research note on Monday, January 6th. Wells Fargo & Company initiated coverage on The Pennant Group in a research report on Thursday, December 19th. They issued an "equal weight" rating and a $33.00 price target on the stock. Finally, Oppenheimer upped their price objective on The Pennant Group from $34.00 to $37.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.00.

The Pennant Group Stock Performance

NASDAQ:PNTG traded up $0.18 during mid-day trading on Tuesday, reaching $25.33. The stock had a trading volume of 5,326 shares, compared to its average volume of 181,888. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12. The business has a 50 day simple moving average of $26.84 and a 200 day simple moving average of $30.69. The Pennant Group, Inc. has a twelve month low of $16.28 and a twelve month high of $37.13. The firm has a market capitalization of $870.10 million, a price-to-earnings ratio of 37.19, a PEG ratio of 2.24 and a beta of 1.92.

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.