Zurcher Kantonalbank Zurich Cantonalbank Sells 12,823 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in The Pennant Group, Inc. (NASDAQ:PNTG) by 44.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,882 shares of the company’s stock after selling 12,823 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in The Pennant Group were worth $399,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in shares of The Pennant Group during the first quarter valued at about $25,000. Turtle Creek Asset Management Inc. increased its position in shares of The Pennant Group by 150.0% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,500 shares of the company’s stock valued at $66,000 after buying an additional 1,500 shares during the period. Quarry LP increased its position in shares of The Pennant Group by 166.8% during the fourth quarter. Quarry LP now owns 2,705 shares of the company’s stock valued at $72,000 after buying an additional 1,691 shares during the period. Summit Investment Advisors Inc. increased its position in shares of The Pennant Group by 20.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,414 shares of the company’s stock valued at $91,000 after buying an additional 575 shares during the period. Finally, Public Employees Retirement Association of Colorado purchased a new position in shares of The Pennant Group during the fourth quarter valued at about $122,000. 85.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PNTG shares. Wall Street Zen upgraded shares of The Pennant Group from a “hold” rating to a “buy” rating in a research report on Saturday. Stephens reiterated an “overweight” rating and set a $35.00 price target on shares of The Pennant Group in a research report on Tuesday, June 10th. Wells Fargo & Company boosted their price target 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. Finally, Truist Financial reduced their price target on shares of The Pennant Group from $32.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, July 16th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.80.

The Pennant Group Price Performance

Shares of PNTG opened at $26.00 on Friday. The stock has a market cap of $898.56 million, a PE ratio of 33.33, a price-to-earnings-growth ratio of 2.05 and a beta of 1.48. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.41 and a current ratio of 1.21. The Pennant Group, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $37.13. The firm’s 50-day simple moving average is $26.04 and its two-hundred day simple moving average is $26.02.

Insiders Place Their Bets

In other The Pennant Group 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 sale, the director owned 30,275 shares in the company, valued at approximately $892,204.25. This represents a 14.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.40% of the company’s stock.

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.