Summit Global Investments Buys New Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Summit Global Investments purchased a new position in The Pennant Group, Inc. (NASDAQ:PNTG) during the 3rd quarter, Holdings Channel reports. The fund purchased 7,119 shares of the company’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. 8 Knots Management LLC increased its position in The Pennant Group by 34.0% in the first quarter. 8 Knots Management LLC now owns 2,462,553 shares of the company’s stock worth $48,340,000 after buying an additional 625,061 shares in the last quarter. Sei Investments Co. increased its holdings in The Pennant Group by 679.7% in the 1st quarter. Sei Investments Co. now owns 136,026 shares of the company’s stock worth $2,670,000 after acquiring an additional 118,581 shares in the last quarter. Grandeur Peak Global Advisors LLC purchased a new stake in The Pennant Group in the 1st quarter worth approximately $2,225,000. Vanguard Group Inc. raised its stake in The Pennant Group by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 1,859,679 shares of the company’s stock worth $36,505,000 after acquiring an additional 77,052 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in The Pennant Group by 600.0% during the second quarter. Federated Hermes Inc. now owns 54,045 shares of the company’s stock valued at $1,253,000 after purchasing an additional 46,324 shares in the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PNTG shares. Oppenheimer raised their price objective on shares of The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday. Stephens restated an “overweight” rating and issued a $40.00 price objective on shares of The Pennant Group in a research report on Wednesday, October 9th. Royal Bank of Canada upped their price objective on The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial lifted their target price on The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Monday, October 7th.

The Pennant Group Stock Performance

PNTG opened at $33.42 on Monday. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 49.15, a PEG ratio of 3.44 and a beta of 2.02. The Pennant Group, Inc. has a fifty-two week low of $11.95 and a fifty-two week high of $37.13. 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 company has a fifty day moving average of $33.78 and a 200 day moving average of $28.50.

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.