JPMorgan Chase & Co. Buys 83,664 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

JPMorgan Chase & Co. increased its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 68.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 205,922 shares of the company’s stock after acquiring an additional 83,664 shares during the quarter. JPMorgan Chase & Co.’s holdings in The Pennant Group were worth $7,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. FMR LLC boosted its stake in shares of 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 purchasing an additional 856,838 shares during the period. Crewe Advisors LLC raised its holdings in The Pennant Group by 1.6% during the 3rd quarter. Crewe Advisors LLC now owns 742,958 shares of the company’s stock valued at $26,524,000 after buying an additional 11,927 shares during the last quarter. Geode Capital Management LLC raised its holdings in The Pennant Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 682,132 shares of the company’s stock valued at $24,357,000 after buying an additional 2,963 shares during the last quarter. First Eagle Investment Management LLC boosted its position in The Pennant Group by 2.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 391,748 shares of the company’s stock valued at $9,085,000 after buying an additional 8,000 shares during the period. Finally, De Lisle Partners LLP grew its holdings in The Pennant Group by 7.6% in the 3rd quarter. De Lisle Partners LLP now owns 343,340 shares of the company’s stock worth $12,254,000 after acquiring an additional 24,321 shares during the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

The Pennant Group Price Performance

Shares of NASDAQ PNTG opened at $26.51 on Wednesday. The Pennant Group, Inc. has a 1 year low of $14.84 and a 1 year high of $37.13. The stock has a market capitalization of $910.57 million, a P/E ratio of 38.99, a P/E/G ratio of 2.99 and a beta of 1.93. The company’s 50-day moving average is $29.36 and its 200 day moving average is $30.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12.

Wall Street Analyst Weigh In

PNTG has been the subject of several recent analyst reports. Wells Fargo & Company started coverage on shares of The Pennant Group in a research note on Thursday, December 19th. They set an “equal weight” rating and a $33.00 price objective for the company. Royal Bank of Canada boosted their price target on The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Oppenheimer increased their price objective on The Pennant Group from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Truist Financial reduced their target price on The Pennant Group from $38.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Finally, Stephens restated an “overweight” rating and set a $40.00 target price on shares of The Pennant Group in a 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 stock. Based on data from MarketBeat, The Pennant Group currently has an average rating of “Moderate Buy” and an average target price of $36.00.

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.