Envestnet Asset Management Inc. Trims Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Envestnet Asset Management Inc. cut its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,022 shares of the company’s stock after selling 1,231 shares during the period. Envestnet Asset Management Inc. owned 0.07% of The Pennant Group worth $664,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new stake in The Pennant Group during the 4th quarter worth approximately $188,000. LPL Financial LLC purchased a new position in shares of The Pennant Group during the 4th quarter valued at $225,000. Arizona State Retirement System increased its holdings 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 worth $259,000 after purchasing an additional 1,121 shares during the period. Integrated Quantitative Investments LLC purchased a new stake in shares of The Pennant Group in the fourth quarter worth $264,000. Finally, AlphaQuest LLC purchased a new stake in shares of The Pennant Group in the fourth quarter worth $291,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

The Pennant Group Stock Up 5.0 %

Shares of NASDAQ:PNTG opened at $26.69 on Friday. The firm has a market capitalization of $926.73 million, a PE ratio of 39.25, a price-to-earnings-growth ratio of 2.24 and a beta of 1.56. 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 firm has a fifty day moving average of $24.66 and a 200 day moving average of $27.59.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PNTG. Stephens restated an “overweight” rating and set a $38.00 target price on shares of The Pennant Group in a research report on Wednesday, April 2nd. Truist Financial cut their price objective on The Pennant Group from $32.00 to $28.00 and set a “hold” rating for the company in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.80.

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.