The Pennant Group, Inc. (NASDAQ:PNTG) Stake Lessened by Riverbridge Partners LLC

Riverbridge Partners LLC decreased its position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,010,194 shares of the company’s stock after selling 92,362 shares during the period. Riverbridge Partners LLC’s holdings in The Pennant Group were worth $26,790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNTG. Creative Planning raised its stake in shares of The Pennant Group by 2.0% in the 2nd quarter. Creative Planning now owns 19,152 shares of the company’s stock worth $444,000 after buying an additional 373 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in The Pennant Group by 4.4% in the second quarter. The Manufacturers Life Insurance Company now owns 11,227 shares of the company’s stock worth $260,000 after acquiring an additional 471 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in The Pennant Group by 4.0% in the 3rd quarter. D.A. Davidson & CO. now owns 15,126 shares of the company’s stock valued at $540,000 after acquiring an additional 575 shares during the last quarter. Quarry LP boosted 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 purchasing an additional 799 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of The Pennant Group by 14.5% in the 3rd quarter. Principal Financial Group Inc. now owns 12,626 shares of the company’s stock worth $451,000 after purchasing an additional 1,597 shares during the last quarter. Institutional investors own 85.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PNTG. Oppenheimer raised 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. Stephens restated an “overweight” rating and issued a $40.00 target price on shares of The Pennant Group in a report on Wednesday, October 9th. Truist Financial decreased their price target on The Pennant Group from $38.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada boosted their price objective on 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 initiated 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, The Pennant Group has an average rating of “Moderate Buy” and a consensus target price of $36.00.

The Pennant Group Stock Performance

Shares of PNTG stock opened at $27.47 on Thursday. The stock’s fifty day simple moving average is $28.69 and its 200-day simple moving average is $30.84. The company has a market capitalization of $943.59 million, a price-to-earnings ratio of 40.40, a P/E/G ratio of 2.43 and a beta of 1.93. 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 $14.84 and a 1-year high of $37.13.

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.