Hussman Strategic Advisors Inc. Takes Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Hussman Strategic Advisors Inc. purchased a new stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 42,000 shares of the company’s stock, valued at approximately $1,114,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP increased its holdings in shares of 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 buying an additional 799 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in 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 valued at $118,000 after purchasing an additional 2,720 shares during the period. Intech Investment Management LLC acquired a new stake in The Pennant Group during the 3rd quarter valued at $232,000. Summit Global Investments acquired a new stake in The Pennant Group during the 3rd quarter valued at $254,000. Finally, HighTower Advisors LLC acquired a new stake in The Pennant Group during the 3rd quarter valued at $282,000. Institutional investors own 85.88% of the company’s stock.

The Pennant Group Stock Down 4.5 %

PNTG stock opened at $25.76 on Friday. 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 Pennant Group, Inc. has a 52-week low of $16.14 and a 52-week high of $37.13. The company has a 50-day moving average of $27.01 and a two-hundred day moving average of $30.70. The stock has a market capitalization of $884.80 million, a price-to-earnings ratio of 37.88, a price-to-earnings-growth ratio of 2.37 and a beta of 1.91.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wells Fargo & Company assumed 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 target price on the stock. Oppenheimer boosted their target price on shares of 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, Truist Financial cut their target price on shares of 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

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.