Premier Fund Managers Ltd Makes New $976,000 Investment in The Pennant Group, Inc. (NASDAQ:PNTG)

Premier Fund Managers Ltd purchased a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 28,404 shares of the company’s stock, valued at approximately $976,000.

Several other institutional investors also recently modified their holdings of the business. Covestor Ltd raised its position in The Pennant Group by 3,805.6% in the 1st quarter. Covestor Ltd now owns 1,406 shares of the company’s stock worth $28,000 after buying an additional 1,370 shares during the last quarter. USA Financial Formulas bought a new stake in The Pennant Group in the 3rd quarter worth approximately $121,000. Acadian Asset Management LLC purchased a new stake in The Pennant Group during the 1st quarter valued at $218,000. Bailard Inc. purchased a new position in shares of The Pennant Group in the 2nd quarter worth $253,000. Finally, Summit Global Investments purchased a new stake in The Pennant Group during the third quarter valued at $254,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

The Pennant Group Price Performance

Shares of The Pennant Group stock opened at $31.81 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. The Pennant Group, Inc. has a 52 week low of $12.96 and a 52 week high of $37.13. The stock’s 50-day simple moving average is $33.74 and its 200-day simple moving average is $29.13. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 46.78, a PEG ratio of 3.22 and a beta of 2.02.

Analyst Ratings Changes

A number of analysts have commented on PNTG shares. Stephens restated an “overweight” rating and issued a $40.00 price target on shares of The Pennant Group in a research report on Wednesday, October 9th. Truist Financial increased their target price on shares of The Pennant Group from $34.00 to $38.00 and gave the stock a “hold” rating in a report on Monday, October 7th. 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 research note on Friday, November 8th. Finally, Royal Bank of Canada upped their price target on shares of The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd.

The Pennant Group Company 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.