Rhumbline Advisers Boosts Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

Rhumbline Advisers raised its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 8.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,423 shares of the company’s stock after acquiring an additional 3,750 shares during the period. Rhumbline Advisers owned approximately 0.14% of The Pennant Group worth $1,193,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PNTG. Two Sigma Advisers LP grew its holdings in The Pennant Group by 144.8% during the 4th quarter. Two Sigma Advisers LP now owns 131,700 shares of the company’s stock valued at $3,493,000 after purchasing an additional 77,900 shares during the last quarter. Millennium Management LLC boosted its position in shares of The Pennant Group by 1,274.9% during the fourth quarter. Millennium Management LLC now owns 181,767 shares of the company’s stock valued at $4,820,000 after buying an additional 168,547 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of The Pennant Group by 18.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,537 shares of the company’s stock valued at $492,000 after buying an additional 2,890 shares during the last quarter. Barclays PLC raised its holdings in shares of The Pennant Group by 22.3% in the fourth quarter. Barclays PLC now owns 60,070 shares of the company’s stock worth $1,593,000 after buying an additional 10,969 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of The Pennant Group by 22.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,885 shares of the company’s stock worth $2,066,000 after buying an additional 14,020 shares during the period. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Insider Activity

In related news, Director Joanne Stringfield sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $29.47, for a total value of $147,350.00. Following the completion of the sale, the director now directly owns 30,275 shares of the company’s stock, valued at $892,204.25. This represents a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.40% of the company’s stock.

The Pennant Group Trading Up 0.7%

Shares of NASDAQ PNTG opened at $28.06 on Friday. The Pennant Group, Inc. has a twelve month low of $21.18 and a twelve month high of $37.13. The firm has a market cap of $967.23 million, a PE ratio of 36.92, a price-to-earnings-growth ratio of 2.39 and a beta of 1.51. The business has a fifty day simple moving average of $27.60 and a two-hundred day simple moving average of $26.69. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.81.

Analyst Upgrades and Downgrades

PNTG has been the subject of several research analyst reports. Stephens reiterated an “overweight” rating and set a $35.00 target price on shares of The Pennant Group in a research report on Tuesday, June 10th. Truist Financial raised their price target on shares of The Pennant Group from $28.00 to $32.00 and gave the stock a “hold” rating in a research note on Monday, May 12th. Finally, Wells Fargo & Company boosted their price objective on shares of The Pennant Group from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The Pennant Group presently has a consensus rating of “Moderate Buy” and an average target price of $34.60.

The Pennant Group 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.