Nuveen Asset Management LLC Increases Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

Nuveen Asset Management LLC boosted its position in The Pennant Group, Inc. (NASDAQ:PNTG) by 29.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 457,364 shares of the company’s stock after buying an additional 104,697 shares during the period. Nuveen Asset Management LLC owned approximately 1.33% of The Pennant Group worth $12,129,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP boosted its holdings in shares of The Pennant Group by 166.8% in the 4th quarter. Quarry LP now owns 2,705 shares of the company’s stock valued at $72,000 after acquiring an additional 1,691 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in The Pennant Group by 20.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company’s stock valued at $91,000 after purchasing an additional 575 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in The Pennant Group in the fourth quarter valued at $122,000. KLP Kapitalforvaltning AS acquired a new stake in The Pennant Group during the 4th quarter worth about $188,000. Finally, LPL Financial LLC purchased a new position in shares of The Pennant Group during the 4th quarter valued at about $225,000. Institutional investors and hedge funds own 85.88% of the company’s stock.

Wall Street Analyst Weigh In

PNTG has been the topic of a number of recent 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 restated an “overweight” rating and issued 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 issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.60.

The Pennant Group Trading Down 1.0%

Shares of PNTG stock opened at $27.77 on Tuesday. The Pennant Group, Inc. has a 1-year low of $21.18 and a 1-year high of $37.13. The company has a market cap of $957.20 million, a price-to-earnings ratio of 40.84, a PEG ratio of 2.24 and a beta of 1.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a 50 day simple moving average of $26.29 and a 200-day simple moving average of $27.03.

Insider Buying and Selling at The Pennant Group

In related news, Director Joanne Stringfield sold 5,000 shares of The Pennant Group stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $29.47, for a total value of $147,350.00. Following the sale, the director now directly owns 30,275 shares in the company, valued at approximately $892,204.25. The trade was a 14.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 5.40% of the company’s stock.

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.