Trexquant Investment LP Purchases New Shares in The Pennant Group, Inc. (NASDAQ:PNTG)

Trexquant Investment LP acquired a new stake in The Pennant Group, Inc. (NASDAQ:PNTG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 55,710 shares of the company's stock, valued at approximately $1,477,000. Trexquant Investment LP owned approximately 0.16% of The Pennant Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP increased its holdings 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 purchasing an additional 799 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of The Pennant Group during the fourth quarter worth approximately $188,000. LPL Financial LLC acquired a new stake in The Pennant Group in the fourth quarter valued at approximately $225,000. Arizona State Retirement System lifted its stake 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 during the last quarter. Finally, HighTower Advisors LLC acquired a new position in The Pennant Group during the 3rd quarter worth approximately $282,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Stephens reaffirmed an "overweight" rating and set a $38.00 price objective on shares of The Pennant Group in a research report on Wednesday, April 2nd. Truist Financial lowered their price objective 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, Wells Fargo & Company assumed coverage on The Pennant Group in a report on Thursday, December 19th. They issued an "equal weight" rating and a $33.00 price objective on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $34.80.

The Pennant Group Stock Performance

Shares of PNTG stock traded up $0.07 during mid-day trading on Tuesday, hitting $26.10. 17,203 shares of the stock were exchanged, compared to its average volume of 223,454. The stock's fifty day simple moving average is $24.80 and its two-hundred day simple moving average is $28.35. 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 12-month low of $19.37 and a 12-month high of $37.13. The stock has a market capitalization of $906.07 million, a price-to-earnings ratio of 38.45, a P/E/G ratio of 2.24 and a beta of 1.73.

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.