The Pennant Group, Inc. (NASDAQ:PNTG) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in The Pennant Group, Inc. (NASDAQ:PNTG) by 26.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,347 shares of the company’s stock after purchasing an additional 3,859 shares during the period. Franklin Resources Inc.’s holdings in The Pennant Group were worth $638,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP lifted its holdings in The Pennant Group by 371.6% in the third quarter. Quarry LP now owns 1,014 shares of the company’s stock valued at $36,000 after acquiring an additional 799 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of The Pennant Group by 460.2% during the 3rd 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 position in The Pennant Group in the 3rd quarter valued at approximately $121,000. Intech Investment Management LLC acquired a new position in The Pennant Group during the third quarter worth $232,000. Finally, Summit Global Investments purchased a new stake in The Pennant Group during the third quarter worth $254,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

The Pennant Group Price Performance

Shares of The Pennant Group stock opened at $26.22 on Tuesday. The business’s fifty day moving average price is $30.97 and its 200 day moving average price is $30.43. The Pennant Group, Inc. has a twelve month low of $13.77 and a twelve month high of $37.13. 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 market capitalization of $900.60 million, a P/E ratio of 38.56, a PEG ratio of 2.99 and a beta of 1.95.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PNTG shares. Oppenheimer raised their target price on shares of The Pennant Group from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, November 8th. 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. Wells Fargo & Company began coverage on shares of The Pennant Group in a research note on Thursday, December 19th. They issued an “equal weight” rating and a $33.00 target price for the company. Royal Bank of Canada increased their price target 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 price target on The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.20.

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.