Belpointe Asset Management LLC Makes New $211,000 Investment in The Pennant Group, Inc. $PNTG

Belpointe Asset Management LLC purchased a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,065 shares of the company’s stock, valued at approximately $211,000.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC raised its stake in shares of The Pennant Group by 56.9% during the first quarter. SG Americas Securities LLC now owns 23,413 shares of the company’s stock worth $589,000 after acquiring an additional 8,490 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of The Pennant Group by 7,124.5% during the first quarter. GAMMA Investing LLC now owns 7,947 shares of the company’s stock worth $200,000 after acquiring an additional 7,837 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of The Pennant Group by 205.9% during the first quarter. Cubist Systematic Strategies LLC now owns 97,527 shares of the company’s stock worth $2,453,000 after acquiring an additional 65,640 shares in the last quarter. Rhumbline Advisers raised its stake in shares of The Pennant Group by 8.6% during the first quarter. Rhumbline Advisers now owns 47,423 shares of the company’s stock worth $1,193,000 after acquiring an additional 3,750 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of The Pennant Group by 25.2% during the first quarter. Mackenzie Financial Corp now owns 22,446 shares of the company’s stock worth $565,000 after acquiring an additional 4,522 shares in the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

The Pennant Group Stock Down 2.8%

Shares of The Pennant Group stock opened at $24.35 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $24.77 and its two-hundred day simple moving average is $25.90. The company has a market cap of $841.54 million, a P/E ratio of 31.22, a PEG ratio of 2.00 and a beta of 1.35. The Pennant Group, Inc. has a 12-month low of $21.18 and a 12-month high of $36.20.

Wall Street Analyst Weigh In

PNTG has been the topic of several analyst reports. Stephens reaffirmed an “overweight” rating and issued a $40.00 target price on shares of The Pennant Group in a research note on Thursday. Truist Financial decreased their target price on shares of The Pennant Group from $32.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, July 16th. Wall Street Zen downgraded shares of The Pennant Group from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of The Pennant Group in a research note on Saturday, September 27th. Finally, Wells Fargo & Company decreased their target price on shares of The Pennant Group from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 14th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.40.

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.