Navellier & Associates Inc. Invests $874,000 in The Pennant Group, Inc. (NASDAQ:PNTG)

Navellier & Associates Inc. acquired a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 24,486 shares of the company’s stock, valued at approximately $874,000.

A number of other institutional investors have also bought and sold shares of PNTG. Covestor Ltd grew its position in shares of The Pennant Group by 3,805.6% in the first quarter. Covestor Ltd now owns 1,406 shares of the company’s stock valued at $28,000 after purchasing an additional 1,370 shares in the last quarter. USA Financial Formulas acquired a new position in shares of The Pennant Group during the 3rd quarter valued at about $121,000. Intech Investment Management LLC acquired a new stake in The Pennant Group during the third quarter worth about $232,000. Summit Global Investments purchased a new position in The Pennant Group during the third quarter worth about $254,000. Finally, Kings Path Partners LLC acquired a new position in The Pennant Group in the 3rd quarter valued at about $277,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

The Pennant Group Price Performance

PNTG stock opened at $30.50 on Friday. The business’s fifty day moving average price is $33.63 and its 200 day moving average price is $29.15. The Pennant Group, Inc. has a 12-month low of $13.24 and a 12-month high of $37.13. The company has a market capitalization of $1.05 billion, a PE ratio of 44.85, a P/E/G ratio of 3.25 and a beta of 2.02. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Stephens reaffirmed an “overweight” rating and set a $40.00 price target on shares of The Pennant Group in a research report on Wednesday, October 9th. Oppenheimer upped their price target on The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Truist Financial raised their price objective on The Pennant Group from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada upped their target price on shares of The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd.

About The Pennant Group

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.