Quantbot Technologies LP Acquires 15,632 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Quantbot Technologies LP boosted its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 100.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,263 shares of the company’s stock after acquiring an additional 15,632 shares during the quarter. Quantbot Technologies LP owned approximately 0.09% of The Pennant Group worth $829,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Van Berkom & Associates Inc. grew its stake in shares of The Pennant Group by 2,635.6% during the fourth quarter. Van Berkom & Associates Inc. now owns 2,198,216 shares of the company’s stock valued at $58,297,000 after purchasing an additional 2,117,859 shares during the last quarter. FMR LLC lifted its holdings in The Pennant Group by 51.3% during the 3rd quarter. FMR LLC now owns 2,528,512 shares of the company’s stock worth $90,268,000 after buying an additional 856,838 shares in the last quarter. Atom Investors LP bought a new position in The Pennant Group in the 3rd quarter valued at $3,981,000. Raymond James Financial Inc. bought a new position in The Pennant Group in the 4th quarter valued at $2,570,000. Finally, JPMorgan Chase & Co. increased its stake in shares of The Pennant Group by 68.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company’s stock valued at $7,351,000 after buying an additional 83,664 shares during the period. Institutional investors and hedge funds own 85.88% of the company’s stock.

The Pennant Group Price Performance

The Pennant Group stock opened at $24.80 on Thursday. The firm has a market capitalization of $853.86 million, a P/E ratio of 36.47, a PEG ratio of 2.24 and a beta of 2.06. The business has a 50-day moving average of $25.50 and a 200-day moving average of $29.35. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58. The Pennant Group, Inc. has a 1 year low of $19.28 and a 1 year high of $37.13.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PNTG shares. Wells Fargo & Company began coverage on The Pennant Group in a report on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 price target on the stock. Stephens reiterated an “overweight” rating and set a $38.00 price target on shares of The Pennant Group in a research report on Tuesday, March 11th. Finally, Truist Financial cut their price objective on shares of The Pennant Group from $32.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.80.

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.