State Street Corp Sells 1,085 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

State Street Corp lessened its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 0.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 677,968 shares of the company’s stock after selling 1,085 shares during the period. State Street Corp’s holdings in The Pennant Group were worth $24,203,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNTG. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 acquiring an additional 16,200 shares in the last quarter. FMR LLC raised its position in shares of The Pennant Group by 51.3% during the 3rd quarter. FMR LLC now owns 2,528,512 shares of the company’s stock valued at $90,268,000 after purchasing an additional 856,838 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of The Pennant Group during the 3rd quarter valued at $685,000. Bailard Inc. bought a new position in The Pennant Group in the 2nd quarter worth $253,000. Finally, Systematic Financial Management LP bought a new position in The Pennant Group in the 3rd quarter worth $1,069,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PNTG shares. Oppenheimer boosted their price objective on The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada lifted their price objective on shares of The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Stephens restated an “overweight” rating and set a $40.00 target price on shares of The Pennant Group in a research report on Wednesday, October 9th. Truist Financial lifted their price target on shares of The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company assumed coverage on shares of The Pennant Group in a report on Thursday. They set an “equal weight” rating and a $33.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, The Pennant Group has an average rating of “Moderate Buy” and an average price target of $37.20.

The Pennant Group Trading Up 0.3 %

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

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.