Proficio Capital Partners LLC Acquires Shares of 18,352 The Pennant Group, Inc. (NASDAQ:PNTG)

Proficio Capital Partners LLC acquired a new stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 18,352 shares of the company's stock, valued at approximately $487,000. Proficio Capital Partners LLC owned 0.05% of The Pennant Group as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in The Pennant Group in the third quarter worth $363,000. Intech Investment Management LLC bought a new position in The Pennant Group during the third quarter worth $232,000. Charles Schwab Investment Management Inc. raised its stake in The Pennant Group by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 242,743 shares of the company's stock valued at $8,666,000 after purchasing an additional 2,982 shares during the last quarter. Algert Global LLC raised its position in shares of The Pennant Group by 18.1% during the third quarter. Algert Global LLC now owns 88,502 shares of the company's stock valued at $3,160,000 after buying an additional 13,560 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd raised its holdings in The Pennant Group by 48.7% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 27,433 shares of the company's stock valued at $979,000 after acquiring an additional 8,984 shares in the last quarter. Hedge funds and other institutional investors own 85.88% of the company's stock.

The Pennant Group Trading Down 3.2 %

The Pennant Group stock traded down $0.81 during midday trading on Friday, hitting $24.61. 216,643 shares of the stock were exchanged, compared to its average volume of 219,693. 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 52 week low of $19.37 and a 52 week high of $37.13. The company has a fifty day simple moving average of $25.46 and a two-hundred day simple moving average of $29.32. The stock has a market capitalization of $847.32 million, a PE ratio of 36.19, a P/E/G ratio of 2.24 and a beta of 2.06.

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Wall Street Analysts Forecast Growth

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

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.