Van Berkom & Associates Inc. Buys 2,117,859 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Van Berkom & Associates Inc. increased its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 2,635.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,198,216 shares of the company's stock after buying an additional 2,117,859 shares during the period. Van Berkom & Associates Inc. owned 6.40% of The Pennant Group worth $58,297,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP increased its position in The Pennant Group by 371.6% during the 3rd quarter. Quarry LP now owns 1,014 shares of the company's stock worth $36,000 after buying an additional 799 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in The Pennant Group by 460.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company's stock worth $118,000 after acquiring an additional 2,720 shares during the period. Intech Investment Management LLC acquired a new stake in The Pennant Group in the 3rd quarter worth about $232,000. Summit Global Investments acquired a new stake in The Pennant Group in the 3rd quarter worth about $254,000. Finally, HighTower Advisors LLC bought a new stake in The Pennant Group in the 3rd quarter valued at about $282,000. Institutional investors and hedge funds own 85.88% of the company's stock.

The Pennant Group Price Performance

NASDAQ PNTG traded up $0.17 on Tuesday, hitting $25.32. 110,422 shares of the company's stock were exchanged, compared to its average volume of 184,739. The stock has a 50-day moving average of $26.84 and a 200-day moving average of $30.69. The stock has a market cap of $869.69 million, a price-to-earnings ratio of 37.24, a P/E/G ratio of 2.24 and a beta of 1.92. The Pennant Group, Inc. has a 52 week low of $16.28 and a 52 week high of $37.13. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PNTG. Wells Fargo & Company assumed coverage on shares of The Pennant Group in a research report on Thursday, December 19th. They issued an "equal weight" rating and a $33.00 price target for the company. Truist Financial dropped their price objective on The Pennant Group from $38.00 to $32.00 and set a "hold" rating for the company in a report on Monday, January 6th. Finally, Oppenheimer increased their target price on The Pennant Group from $34.00 to $37.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, The Pennant Group has a consensus rating of "Moderate Buy" and an average target price of $36.00.

The Pennant Group Company 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.