Raymond James Financial Inc. Purchases Shares of 96,918 The Pennant Group, Inc. (NASDAQ:PNTG)

Raymond James Financial Inc. acquired a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 96,918 shares of the company's stock, valued at approximately $2,570,000. Raymond James Financial Inc. owned 0.28% of The Pennant Group as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. FMR LLC lifted its position in shares of The Pennant Group by 51.3% during the third quarter. FMR LLC now owns 2,528,512 shares of the company's stock worth $90,268,000 after purchasing an additional 856,838 shares during the last quarter. Van Berkom & Associates Inc. increased its stake in The Pennant Group by 2,635.6% in the 4th quarter. Van Berkom & Associates Inc. now owns 2,198,216 shares of the company's stock worth $58,297,000 after buying an additional 2,117,859 shares during the period. Geode Capital Management LLC lifted its holdings in The Pennant Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 682,132 shares of the company's stock valued at $24,357,000 after buying an additional 2,963 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in The Pennant Group by 17.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 284,391 shares of the company's stock valued at $7,542,000 after buying an additional 41,648 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in The Pennant Group by 68.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company's stock worth $7,351,000 after acquiring an additional 83,664 shares in the last quarter. Institutional investors own 85.88% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company started coverage on shares of The Pennant Group in a research note on Thursday, December 19th. They set an "equal weight" rating and a $33.00 price target for the company. Truist Financial decreased their target price on The Pennant Group from $32.00 to $28.00 and set a "hold" rating for the company in a research report on Friday, March 7th. Finally, Stephens reissued an "overweight" rating and set a $38.00 price target on shares of The Pennant Group in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, The Pennant Group presently has an average rating of "Moderate Buy" and a consensus price target of $34.80.

The Pennant Group Stock Up 1.0 %

PNTG stock traded up $0.25 during trading on Wednesday, hitting $25.66. 256,644 shares of the company's stock traded hands, compared to its average volume of 220,364. The business has a fifty day simple moving average of $25.27 and a two-hundred day simple moving average of $29.07. 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 firm has a market capitalization of $883.47 million, a P/E ratio of 37.74, a PEG ratio of 2.24 and a beta of 2.06. The Pennant Group, Inc. has a 1 year low of $19.37 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.