Navellier & Associates Inc. Increases Stock Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Navellier & Associates Inc. grew its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 86.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,627 shares of the company’s stock after buying an additional 21,141 shares during the quarter. Navellier & Associates Inc.’s holdings in The Pennant Group were worth $1,210,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP raised its position in shares of The Pennant Group by 371.6% during the 3rd quarter. Quarry LP now owns 1,014 shares of the company’s stock valued at $36,000 after buying an additional 799 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of The Pennant Group by 460.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company’s stock valued at $118,000 after buying an additional 2,720 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of The Pennant Group during the 3rd quarter valued at about $232,000. Summit Global Investments purchased a new stake in shares of The Pennant Group during the 3rd quarter valued at about $254,000. Finally, HighTower Advisors LLC purchased a new stake in shares of The Pennant Group during the 3rd quarter valued at about $282,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

The Pennant Group Price Performance

Shares of PNTG stock opened at $25.05 on Friday. 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 company has a market capitalization of $860.47 million, a P/E ratio of 36.84, a P/E/G ratio of 2.24 and a beta of 1.91. The company’s 50-day simple moving average is $26.93 and its two-hundred day simple moving average is $30.70. The Pennant Group, Inc. has a one year low of $16.28 and a one year high of $37.13.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PNTG. Oppenheimer upped their target price on shares of The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Truist Financial reduced their price objective on shares of The Pennant Group from $38.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company started coverage on shares of The Pennant Group in a research report on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.