Northern Trust Corp Raises Stock Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

Northern Trust Corp lifted its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 22.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 424,880 shares of the company’s stock after purchasing an additional 77,980 shares during the quarter. Northern Trust Corp owned 1.24% of The Pennant Group worth $11,268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FMR LLC grew its holdings in shares of The Pennant Group by 54.5% during the fourth quarter. FMR LLC now owns 3,906,327 shares of the company’s stock worth $103,596,000 after purchasing an additional 1,377,815 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of The Pennant Group by 11.0% during the fourth quarter. Vanguard Group Inc. now owns 2,261,564 shares of the company’s stock worth $59,977,000 after purchasing an additional 223,919 shares in the last quarter. Van Berkom & Associates Inc. grew its holdings in shares of The Pennant Group by 2,635.6% during the fourth quarter. Van Berkom & Associates Inc. now owns 2,198,216 shares of the company’s stock worth $58,297,000 after purchasing an additional 2,117,859 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of The Pennant Group by 6.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 817,857 shares of the company’s stock worth $21,689,000 after purchasing an additional 50,502 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in The Pennant Group by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 767,628 shares of the company’s stock worth $20,362,000 after buying an additional 85,496 shares in the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.

The Pennant Group Stock Performance

Shares of PNTG stock opened at $30.22 on Friday. 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 fifty-two week low of $21.18 and a fifty-two week high of $37.13. The stock has a 50 day moving average price of $25.70 and a two-hundred day moving average price of $27.27. The company has a market capitalization of $1.04 billion, a P/E ratio of 44.44, a PEG ratio of 2.24 and a beta of 1.56.

Wall Street Analyst Weigh In

PNTG has been the subject of several research reports. Truist Financial upped their target price on The Pennant Group from $28.00 to $32.00 and gave the stock a “hold” rating in a research note on Monday, May 12th. Stephens reaffirmed an “overweight” rating and issued a $38.00 target price on shares of The Pennant Group in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, The Pennant Group presently has an average rating of “Moderate Buy” and a consensus price target of $35.60.

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.