Navellier & Associates Inc. Acquires Shares of 24,486 The Pennant Group, Inc. (NASDAQ:PNTG)

Navellier & Associates Inc. acquired a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 24,486 shares of the company's stock, valued at approximately $874,000. Navellier & Associates Inc. owned approximately 0.07% of The Pennant Group at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. 8 Knots Management LLC raised its holdings in The Pennant Group by 34.0% during the first quarter. 8 Knots Management LLC now owns 2,462,553 shares of the company's stock valued at $48,340,000 after buying an additional 625,061 shares in the last quarter. Sei Investments Co. raised its holdings in The Pennant Group by 679.7% during the first quarter. Sei Investments Co. now owns 136,026 shares of the company's stock valued at $2,670,000 after buying an additional 118,581 shares in the last quarter. Grandeur Peak Global Advisors LLC bought a new position in The Pennant Group during the first quarter valued at about $2,225,000. Vanguard Group Inc. raised its holdings in The Pennant Group by 4.3% during the first quarter. Vanguard Group Inc. now owns 1,859,679 shares of the company's stock valued at $36,505,000 after buying an additional 77,052 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in The Pennant Group by 600.0% during the second quarter. Federated Hermes Inc. now owns 54,045 shares of the company's stock valued at $1,253,000 after buying an additional 46,324 shares in the last quarter. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

The Pennant Group Stock Performance

Shares of NASDAQ:PNTG traded up $0.64 during midday trading on Friday, hitting $31.14. The company's stock had a trading volume of 309,032 shares, compared to its average volume of 199,896. The Pennant Group, Inc. has a fifty-two week low of $13.24 and a fifty-two week high of $37.13. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 45.79, a PEG ratio of 3.25 and a beta of 2.02. The stock's 50 day simple moving average is $33.56 and its 200 day simple moving average is $29.21. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12.

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.