Trust Point Inc. Sells 11,860 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Trust Point Inc. lowered its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 47.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,066 shares of the company’s stock after selling 11,860 shares during the period. Trust Point Inc.’s holdings in The Pennant Group were worth $347,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. FMR LLC boosted its stake in The Pennant Group by 51.3% during the third quarter. FMR LLC now owns 2,528,512 shares of the company’s stock worth $90,268,000 after acquiring an additional 856,838 shares in the last quarter. Crewe Advisors LLC boosted its stake in The Pennant Group by 1.6% during the third quarter. Crewe Advisors LLC now owns 742,958 shares of the company’s stock worth $26,524,000 after acquiring an additional 11,927 shares in the last quarter. Geode Capital Management LLC boosted its stake in The Pennant Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 682,132 shares of the company’s stock worth $24,357,000 after acquiring an additional 2,963 shares in the last quarter. De Lisle Partners LLP boosted its stake in The Pennant Group by 7.6% during the third quarter. De Lisle Partners LLP now owns 343,340 shares of the company’s stock worth $12,254,000 after acquiring an additional 24,321 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in The Pennant Group by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 242,743 shares of the company’s stock worth $8,666,000 after acquiring an additional 2,982 shares in the last quarter. Institutional investors own 85.88% of the company’s stock.

The Pennant Group Stock Up 1.6 %

PNTG opened at $28.35 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average price of $27.97 and a 200-day moving average price of $30.96. The Pennant Group, Inc. has a twelve month low of $14.84 and a twelve month high of $37.13. The stock has a market capitalization of $973.82 million, a price-to-earnings ratio of 41.69, a PEG ratio of 2.35 and a beta of 1.92.

Analysts Set New Price Targets

Several research analysts have issued reports on PNTG shares. Oppenheimer lifted their target price on shares of The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Truist Financial decreased their target price on shares of The Pennant Group from $38.00 to $32.00 and set a “hold” rating for the company in a report on Monday, January 6th. Stephens reaffirmed an “overweight” rating and issued a $40.00 target price on shares of The Pennant Group in a report on Wednesday, October 9th. Royal Bank of Canada lifted their target price on shares of The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company began coverage on shares of The Pennant Group in a report on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.00.

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.