Riverbridge Partners LLC Sells 92,362 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Riverbridge Partners LLC lessened its holdings in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,010,194 shares of the company's stock after selling 92,362 shares during the quarter. Riverbridge Partners LLC owned approximately 2.94% of The Pennant Group worth $26,790,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in The Pennant Group by 26.6% in the third quarter. Franklin Resources Inc. now owns 18,347 shares of the company's stock valued at $638,000 after buying an additional 3,859 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of The Pennant Group by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company's stock valued at $7,351,000 after purchasing an additional 83,664 shares in the last quarter. FMR LLC raised its stake 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 valued at $90,268,000 after purchasing an additional 856,838 shares in the last quarter. Barclays PLC raised its stake in shares of The Pennant Group by 375.0% during the third quarter. Barclays PLC now owns 49,101 shares of the company's stock valued at $1,753,000 after purchasing an additional 38,763 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of The Pennant Group during the third quarter valued at about $685,000. Institutional investors and hedge funds own 85.88% of the company's stock.

Analyst Upgrades and Downgrades

PNTG has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their target price on The Pennant Group from $26.00 to $38.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Stephens reissued an "overweight" rating and issued a $40.00 price target on shares of The Pennant Group in a research note on Wednesday, October 9th. Oppenheimer lifted their price target on The Pennant Group from $34.00 to $37.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Truist Financial dropped their price target on The Pennant Group from $38.00 to $32.00 and set a "hold" rating on the stock in a research note on Monday, January 6th. Finally, Wells Fargo & Company assumed coverage on The Pennant Group in a research note on Thursday, December 19th. They set an "equal weight" rating and a $33.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.00.

The Pennant Group Stock Down 0.2 %

Shares of The Pennant Group stock traded down $0.05 during trading on Thursday, hitting $27.42. 69,459 shares of the stock traded hands, compared to its average volume of 197,713. The stock has a market cap of $941.74 million, a P/E ratio of 40.33, a PEG ratio of 2.43 and a beta of 1.93. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12. The Pennant Group, Inc. has a twelve month low of $14.84 and a twelve month high of $37.13. The company has a fifty day moving average price of $28.69 and a two-hundred day moving average price of $30.84.

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.