Corebridge Financial Inc. Purchases 954 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Corebridge Financial Inc. increased its stake in The Pennant Group, Inc. (NASDAQ:PNTG) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,227 shares of the company’s stock after purchasing an additional 954 shares during the period. Corebridge Financial Inc.’s holdings in The Pennant Group were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Quarry LP raised its holdings in shares of The Pennant Group by 371.6% in the 3rd quarter. Quarry LP now owns 1,014 shares of the company’s stock valued at $36,000 after purchasing an additional 799 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in The Pennant Group during the 4th quarter worth approximately $188,000. HighTower Advisors LLC bought a new stake in The Pennant Group in the 3rd quarter valued at $282,000. LPL Financial LLC acquired a new position in The Pennant Group in the 4th quarter valued at $225,000. Finally, Arizona State Retirement System boosted its position in shares of The Pennant Group by 13.0% in the fourth quarter. Arizona State Retirement System now owns 9,773 shares of the company’s stock valued at $259,000 after acquiring an additional 1,121 shares during the period. Institutional investors and hedge funds own 85.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PNTG. Truist Financial decreased their target price on shares of The Pennant Group from $32.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company began coverage on The Pennant Group in a report on Thursday, December 19th. They set an “equal weight” rating and a $33.00 target price on the stock. Finally, 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.80.

The Pennant Group Stock Up 3.4 %

Shares of NASDAQ PNTG opened at $25.19 on Thursday. The stock has a 50-day moving average price of $24.93 and a two-hundred day moving average price of $28.60. The Pennant Group, Inc. has a 12 month low of $19.37 and a 12 month 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. The company has a market cap of $867.29 million, a price-to-earnings ratio of 37.04, a PEG ratio of 2.24 and a beta of 1.73.

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.