Harvest Fund Management Co. Ltd Acquires 8,984 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Harvest Fund Management Co. Ltd raised its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 48.7% in the 3rd quarter, Holdings Channel reports. The firm owned 27,433 shares of the company’s stock after purchasing an additional 8,984 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in The Pennant Group were worth $979,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PNTG. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of The Pennant Group by 292.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,738 shares of the company’s stock valued at $504,000 after acquiring an additional 16,200 shares in the last quarter. Bailard Inc. bought a new stake in shares of The Pennant Group in the second quarter valued at about $253,000. Renaissance Technologies LLC raised its holdings in shares of The Pennant Group by 17.1% in the second quarter. Renaissance Technologies LLC now owns 267,300 shares of the company’s stock valued at $6,199,000 after acquiring an additional 39,000 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of The Pennant Group by 600.0% in the second quarter. Federated Hermes Inc. now owns 54,045 shares of the company’s stock valued at $1,253,000 after acquiring an additional 46,324 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of The Pennant Group by 4.3% in the first quarter. Vanguard Group Inc. now owns 1,859,679 shares of the company’s stock valued at $36,505,000 after acquiring an additional 77,052 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors.

The Pennant Group Stock Performance

Shares of The Pennant Group stock opened at $30.56 on Tuesday. The company has a market capitalization of $1.05 billion, a PE ratio of 44.94, a P/E/G ratio of 3.18 and a beta of 2.02. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50-day simple moving average of $33.47 and a two-hundred day simple moving average of $29.38. The Pennant Group, Inc. has a one year low of $13.24 and a one year high of $37.13.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PNTG. Royal Bank of Canada lifted their price objective on The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Truist Financial lifted their target price on The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Stephens reiterated an “overweight” rating and issued a $40.00 target price on shares of The Pennant Group in a report on Wednesday, October 9th. Finally, Oppenheimer boosted 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.

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.