Quantbot Technologies LP Grows Stock Holdings in The Pennant Group, Inc. (NASDAQ:PNTG)

Quantbot Technologies LP grew its holdings in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 121.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,631 shares of the company’s stock after purchasing an additional 8,577 shares during the quarter. Quantbot Technologies LP’s holdings in The Pennant Group were worth $558,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PNTG. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in The Pennant Group by 292.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,738 shares of the company’s stock worth $504,000 after buying an additional 16,200 shares during the last quarter. Bailard Inc. acquired a new stake in shares of The Pennant Group in the second quarter worth approximately $253,000. Renaissance Technologies LLC grew its holdings in The Pennant Group by 17.1% in the second 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 during the period. Navellier & Associates Inc. acquired a new position in The Pennant Group during the third quarter worth approximately $874,000. Finally, Federated Hermes Inc. raised its stake in The Pennant Group by 600.0% during the second 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. Institutional investors and hedge funds own 85.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PNTG. Stephens reissued an “overweight” rating and set a $40.00 price objective on shares of The Pennant Group in a research note on Wednesday, October 9th. Truist Financial boosted their price target on The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Oppenheimer lifted their price objective on The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada boosted their target price on The Pennant Group from $26.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd.

The Pennant Group Trading Up 1.2 %

Shares of PNTG opened at $31.56 on Tuesday. The Pennant Group, Inc. has a 12 month low of $13.24 and a 12 month high of $37.13. The stock’s 50-day moving average is $33.17 and its two-hundred day moving average is $29.62. 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 stock has a market cap of $1.08 billion, a PE ratio of 46.41, a P/E/G ratio of 3.18 and a beta of 2.02.

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.