Summit Global Investments Acquires 4,528 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Summit Global Investments raised its holdings in The Pennant Group, Inc. (NASDAQ:PNTG) by 63.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,647 shares of the company’s stock after acquiring an additional 4,528 shares during the quarter. Summit Global Investments’ holdings in The Pennant Group were worth $309,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP lifted its stake in shares of The Pennant Group by 371.6% in 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 during the period. Point72 Asia Singapore Pte. Ltd. increased its holdings in The Pennant Group by 460.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company’s stock valued at $118,000 after purchasing an additional 2,720 shares during the last quarter. Intech Investment Management LLC acquired a new position in The Pennant Group in the third quarter valued at about $232,000. Arizona State Retirement System boosted its holdings in The Pennant Group by 13.0% during the fourth quarter. Arizona State Retirement System now owns 9,773 shares of the company’s stock worth $259,000 after buying an additional 1,121 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of The Pennant Group during the 3rd quarter worth about $282,000. Institutional investors and hedge funds own 85.88% of the company’s stock.

The Pennant Group Price Performance

NASDAQ PNTG opened at $24.29 on Tuesday. 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 stock has a market cap of $836.30 million, a price-to-earnings ratio of 35.72, a PEG ratio of 2.24 and a beta of 2.06. The business has a 50 day simple moving average of $25.59 and a 200 day simple moving average of $29.43. The Pennant Group, Inc. has a 52-week low of $19.28 and a 52-week high of $37.13.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of The Pennant Group in a research 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 issued a $38.00 target price on shares of The Pennant Group in a report on Tuesday, March 11th. Finally, Truist Financial decreased their price target on shares of The Pennant Group from $32.00 to $28.00 and set a “hold” rating for the company in a report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, The Pennant Group presently has a consensus rating of “Moderate Buy” and a consensus 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.