Riverbridge Partners LLC lowered its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG – Get Rating) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,372,199 shares of the company’s stock after selling 36,739 shares during the period. Riverbridge Partners LLC owned 4.62% of The Pennant Group worth $15,067,000 at the end of the most recent quarter.
→ Urgent Warning (From Weiss Ratings)
Several other large investors also recently modified their holdings of the stock. Quantbot Technologies LP purchased a new position in The Pennant Group in the 3rd quarter valued at approximately $27,000. Captrust Financial Advisors grew its stake in The Pennant Group by 34.8% in the 1st quarter. Captrust Financial Advisors now owns 4,098 shares of the company’s stock valued at $76,000 after buying an additional 1,057 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in The Pennant Group by 217.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,464 shares of the company’s stock valued at $46,000 after buying an additional 3,056 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in The Pennant Group by 16.8% in the 2nd quarter. Mutual of America Capital Management LLC now owns 4,553 shares of the company’s stock valued at $58,000 after buying an additional 655 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in The Pennant Group in the 3rd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.
Insider Activity at The Pennant Group
In other news, Director Barry M. Smith purchased 4,464 shares of The Pennant Group stock in a transaction that occurred on Friday, March 3rd. The shares were bought at an average cost of $14.95 per share, with a total value of $66,736.80. Following the completion of the purchase, the director now directly owns 18,163 shares in the company, valued at $271,536.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other The Pennant Group news, Director Barry M. Smith acquired 4,464 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were acquired at an average cost of $14.95 per share, with a total value of $66,736.80. Following the transaction, the director now owns 18,163 shares of the company’s stock, valued at approximately $271,536.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Barry M. Smith bought 25,536 shares of the stock in a transaction on Monday, March 6th. The shares were bought at an average price of $15.00 per share, for a total transaction of $383,040.00. Following the purchase, the director now directly owns 43,699 shares in the company, valued at approximately $655,485. The disclosure for this purchase can be found here. 10.30% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. TheStreet upgraded shares of The Pennant Group from a “d+” rating to a “c” rating in a research note on Tuesday, March 7th. Stifel Nicolaus upgraded shares of The Pennant Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $15.00 to $16.00 in a research note on Monday, February 27th. Finally, Truist Financial lifted their price objective on shares of The Pennant Group from $12.00 to $15.00 and gave the company a “hold” rating in a research note on Monday, February 27th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, The Pennant Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.
The Pennant Group Stock Down 7.1 %
PNTG opened at $11.71 on Monday. The Pennant Group, Inc. has a one year low of $8.68 and a one year high of $20.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $347.90 million, a P/E ratio of 53.23, a price-to-earnings-growth ratio of 1.53 and a beta of 2.11. The company has a fifty day moving average price of $12.49 and a 200-day moving average price of $11.94.
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.
See Also
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