Invesco Ltd. Sells 104,556 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Invesco Ltd. reduced its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 70.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,520 shares of the company’s stock after selling 104,556 shares during the quarter. Invesco Ltd. owned about 0.13% of The Pennant Group worth $1,181,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new position in shares of The Pennant Group in the 4th quarter valued at $188,000. LPL Financial LLC acquired a new stake in shares of The Pennant Group during the fourth quarter worth $225,000. Arizona State Retirement System lifted its stake in The Pennant Group by 13.0% in the 4th 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 in the last quarter. Integrated Quantitative Investments LLC acquired a new position in The Pennant Group during the fourth quarter worth $264,000. Finally, AlphaQuest LLC bought a new stake in The Pennant Group during the fourth quarter worth about $291,000. Institutional investors and hedge funds own 85.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on PNTG shares. Truist Financial lowered their price target on 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. Stephens reissued an “overweight” rating and issued a $38.00 price target on shares of The Pennant Group in a report on Wednesday, April 2nd. Two 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $34.80.

The Pennant Group Trading Down 0.8 %

Shares of PNTG opened at $25.42 on Friday. The firm has a market cap of $882.63 million, a price-to-earnings ratio of 37.38, a PEG ratio of 2.24 and a beta of 1.73. 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 52-week low of $20.78 and a 52-week high of $37.13. The business’s fifty day moving average is $24.64 and its 200-day moving average is $27.70.

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.