Geode Capital Management LLC Grows Stock Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Geode Capital Management LLC raised its holdings in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 767,628 shares of the company's stock after purchasing an additional 85,496 shares during the quarter. Geode Capital Management LLC owned about 2.23% of The Pennant Group worth $20,362,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PNTG. KLP Kapitalforvaltning AS acquired a new stake in shares of The Pennant Group in the 4th quarter worth $188,000. HighTower Advisors LLC purchased a new stake in The Pennant Group in the 3rd quarter valued at approximately $282,000. LPL Financial LLC purchased a new position in shares of The Pennant Group during the 4th quarter worth approximately $225,000. Arizona State Retirement System raised its position in The Pennant Group by 13.0% in the fourth 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 in the last quarter. Finally, AlphaQuest LLC purchased a new position in shares of The Pennant Group in the 4th quarter valued at about $291,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

The Pennant Group Price Performance

PNTG stock traded down $1.63 during trading on Monday, hitting $24.50. The stock had a trading volume of 265,320 shares, compared to its average volume of 225,935. The Pennant Group, Inc. has a 1-year low of $20.11 and a 1-year high of $37.13. The stock has a market cap of $850.69 million, a price-to-earnings ratio of 36.03, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73. The company's 50 day moving average price is $24.75 and its two-hundred day moving average price is $28.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PNTG. Truist Financial lowered 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 reissued an "overweight" rating and issued a $38.00 price objective on shares of The Pennant Group in a research note on Wednesday, April 2nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, The Pennant Group has an average rating of "Moderate Buy" and a consensus target price of $34.80.

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.