The Pennant Group, Inc. (NASDAQ:PNTG) Position Lessened by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. decreased its stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 53.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 650,695 shares of the company's stock after selling 751,905 shares during the period. T. Rowe Price Investment Management Inc. owned 1.89% of The Pennant Group worth $17,257,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PNTG. Summit Investment Advisors Inc. increased its position in shares of The Pennant Group by 20.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company's stock valued at $91,000 after purchasing an additional 575 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of The Pennant Group during the 4th quarter valued at $188,000. LPL Financial LLC acquired a new position in shares of The Pennant Group in the 4th quarter worth $225,000. Arizona State Retirement System grew its holdings in shares of The Pennant Group by 13.0% in the 4th quarter. Arizona State Retirement System now owns 9,773 shares of the company's stock worth $259,000 after acquiring an additional 1,121 shares during the last quarter. Finally, Integrated Quantitative Investments LLC acquired a new position in shares of The Pennant Group in the 4th quarter worth $264,000. Institutional investors own 85.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PNTG. Truist Financial decreased their target price on The Pennant Group from $32.00 to $28.00 and set a "hold" rating on the stock in a report on Friday, March 7th. Stephens restated an "overweight" rating and issued a $38.00 target price on shares of The Pennant Group in a report on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $34.80.

The Pennant Group Stock Performance

Shares of The Pennant Group stock opened at $25.57 on Monday. The stock has a market cap of $887.84 million, a PE ratio of 37.60, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73. The business has a fifty day simple moving average of $24.65 and a 200-day simple moving average of $27.85. 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 12 month low of $20.23 and a 12 month high of $37.13.

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.

Want to see what other hedge funds are holding PNTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Pennant Group, Inc. (NASDAQ:PNTG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.