Tidal Investments LLC Buys New Shares in The Pennant Group, Inc. (NASDAQ:PNTG)

Tidal Investments LLC bought a new stake in The Pennant Group, Inc. (NASDAQ:PNTG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 14,176 shares of the company’s stock, valued at approximately $506,000.

Other institutional investors have also modified their holdings of the company. FMR LLC lifted its position in The Pennant Group by 51.3% during the third quarter. FMR LLC now owns 2,528,512 shares of the company’s stock valued at $90,268,000 after buying an additional 856,838 shares in the last quarter. Atom Investors LP acquired a new position in shares of The Pennant Group during the 3rd quarter valued at $3,981,000. Federated Hermes Inc. boosted its position in The Pennant Group by 600.0% during the 2nd quarter. Federated Hermes Inc. now owns 54,045 shares of the company’s stock worth $1,253,000 after purchasing an additional 46,324 shares during the period. Renaissance Technologies LLC increased its holdings in The Pennant Group by 17.1% in the 2nd quarter. Renaissance Technologies LLC now owns 267,300 shares of the company’s stock valued at $6,199,000 after purchasing an additional 39,000 shares in the last quarter. Finally, Barclays PLC increased its holdings in The Pennant Group by 375.0% in the 3rd quarter. Barclays PLC now owns 49,101 shares of the company’s stock valued at $1,753,000 after purchasing an additional 38,763 shares in the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PNTG shares. Oppenheimer upped their target price on The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Truist Financial increased 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 report on Monday, October 7th. Royal Bank of Canada boosted their target price 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. Wells Fargo & Company started coverage on shares of The Pennant Group in a research note on Thursday. They set an “equal weight” rating and a $33.00 price target on the stock. Finally, Stephens reissued an “overweight” rating and issued a $40.00 price objective on shares of The Pennant Group in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The Pennant Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.20.

The Pennant Group Stock Performance

The Pennant Group stock opened at $27.38 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average of $31.80 and a 200-day moving average of $30.24. The stock has a market cap of $940.45 million, a P/E ratio of 40.27, a price-to-earnings-growth ratio of 2.99 and a beta of 1.95. The Pennant Group, Inc. has a 52 week low of $13.66 and a 52 week high of $37.13.

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.