Wellington Management Group LLP Purchases 3,234 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Wellington Management Group LLP increased its position in The Pennant Group, Inc. (NASDAQ:PNTG) by 8.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,100 shares of the company’s stock after purchasing an additional 3,234 shares during the quarter. Wellington Management Group LLP’s holdings in The Pennant Group were worth $1,503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Quarry LP lifted its position in The Pennant Group by 371.6% during the third quarter. Quarry LP now owns 1,014 shares of the company’s stock valued at $36,000 after buying an additional 799 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its stake in The Pennant Group by 460.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company’s stock worth $118,000 after acquiring an additional 2,720 shares in the last quarter. USA Financial Formulas purchased a new stake in The Pennant Group in the third quarter worth about $121,000. Intech Investment Management LLC bought a new position in shares of The Pennant Group during the third quarter valued at approximately $232,000. Finally, Summit Global Investments bought a new position in shares of The Pennant Group during the third quarter valued at approximately $254,000. 85.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PNTG shares. Oppenheimer boosted their target price on The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. 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 note on Wednesday, October 23rd. Truist Financial raised their price objective on shares of The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, October 7th. Finally, Stephens reiterated an “overweight” rating and issued a $40.00 target price on shares of The Pennant Group in a research note on Wednesday, October 9th.

The Pennant Group Price Performance

NASDAQ PNTG opened at $28.15 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12. The Pennant Group, Inc. has a 1-year low of $13.60 and a 1-year high of $37.13. The stock has a market capitalization of $966.90 million, a price-to-earnings ratio of 41.40, a PEG ratio of 2.99 and a beta of 1.95. The business’s fifty day moving average price is $32.04 and its 200-day moving average price is $30.19.

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.