Hillsdale Investment Management Inc. Increases Stock Position in The Pennant Group, Inc. (NASDAQ:PNTG)

Hillsdale Investment Management Inc. grew its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 190,882 shares of the company’s stock after acquiring an additional 1,200 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.56% of The Pennant Group worth $5,062,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP boosted its holdings in shares of The Pennant Group by 371.6% during the 3rd 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 last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of The Pennant Group by 460.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,311 shares of the company’s stock worth $118,000 after buying an additional 2,720 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of The Pennant Group in the third quarter worth approximately $232,000. Arizona State Retirement System boosted its holdings in shares of The Pennant Group by 13.0% in the fourth quarter. Arizona State Retirement System now owns 9,773 shares of the company’s stock worth $259,000 after buying an additional 1,121 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new position in The Pennant Group during the third quarter valued at approximately $282,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PNTG shares. Truist Financial lowered their price target on shares of The Pennant Group from $32.00 to $28.00 and set a “hold” rating on the stock in a report on Friday, March 7th. Wells Fargo & Company started coverage on shares of The Pennant Group in a report on Thursday, December 19th. They set an “equal weight” rating and a $33.00 price target on the stock. Finally, Stephens reaffirmed an “overweight” rating and set a $38.00 price target on shares of The Pennant Group in a report on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.80.

The Pennant Group Trading Down 3.0 %

The Pennant Group stock opened at $23.40 on Friday. The stock has a market cap of $805.66 million, a P/E ratio of 34.41, a PEG ratio of 2.24 and a beta of 2.06. 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 1 year low of $19.28 and a 1 year high of $37.13. The firm’s 50 day moving average price is $25.63 and its 200-day moving average price is $29.53.

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.