Premier Fund Managers Ltd Acquires New Stake in The Pennant Group, Inc. (NASDAQ:PNTG)

Premier Fund Managers Ltd purchased a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 28,404 shares of the company's stock, valued at approximately $976,000. Premier Fund Managers Ltd owned 0.09% of The Pennant Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Covestor Ltd boosted its holdings in shares of The Pennant Group by 3,805.6% during the first quarter. Covestor Ltd now owns 1,406 shares of the company's stock worth $28,000 after acquiring an additional 1,370 shares during the period. USA Financial Formulas bought a new stake in shares of The Pennant Group in the third quarter valued at approximately $121,000. Acadian Asset Management LLC bought a new stake in shares of The Pennant Group in the first quarter valued at approximately $218,000. Bailard Inc. bought a new stake in The Pennant Group during the second quarter worth $253,000. Finally, Summit Global Investments bought a new stake in The Pennant Group during the third quarter worth $254,000. Institutional investors own 85.88% of the company's stock.

Analyst Upgrades and Downgrades

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

The Pennant Group Price Performance

Shares of NASDAQ:PNTG traded down $1.11 during trading on Wednesday, hitting $30.70. 121,174 shares of the company were exchanged, compared to its average volume of 198,308. The business's 50 day moving average is $33.74 and its 200-day moving average is $29.13. The company has a market capitalization of $1.05 billion, a P/E ratio of 46.78, a price-to-earnings-growth ratio of 3.22 and a beta of 2.02. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. The Pennant Group, Inc. has a 1-year low of $13.15 and a 1-year high of $37.13.

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.