The Pennant Group, Inc. (NASDAQ:PNTG) Shares Sold by Covestor Ltd

Covestor Ltd trimmed its holdings in The Pennant Group, Inc. (NASDAQ:PNTG) by 33.8% in the third quarter, HoldingsChannel.com reports. The firm owned 848 shares of the company’s stock after selling 433 shares during the quarter. Covestor Ltd’s holdings in The Pennant Group were worth $30,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. 8 Knots Management LLC boosted its holdings in The Pennant Group by 34.0% in the first quarter. 8 Knots Management LLC now owns 2,462,553 shares of the company’s stock valued at $48,340,000 after purchasing an additional 625,061 shares in the last quarter. Vanguard Group Inc. boosted its holdings in The Pennant Group by 4.3% in the first quarter. Vanguard Group Inc. now owns 1,859,679 shares of the company’s stock valued at $36,505,000 after purchasing an additional 77,052 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in The Pennant Group by 2.1% in the second quarter. First Eagle Investment Management LLC now owns 391,748 shares of the company’s stock valued at $9,085,000 after purchasing an additional 8,000 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in shares of The Pennant Group by 8.2% in the first quarter. Hillsdale Investment Management Inc. now owns 352,292 shares of the company’s stock valued at $6,915,000 after acquiring an additional 26,670 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of The Pennant Group by 17.1% in the second quarter. Renaissance Technologies LLC now owns 267,300 shares of the company’s stock valued at $6,199,000 after acquiring an additional 39,000 shares during the period. 85.88% of the stock is owned by institutional investors and hedge funds.

The Pennant Group Price Performance

Shares of NASDAQ PNTG opened at $31.43 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 stock has a fifty day moving average price of $33.77 and a 200 day moving average price of $28.80. The Pennant Group, Inc. has a 1-year low of $12.65 and a 1-year high of $37.13. The company has a market cap of $1.08 billion, a PE ratio of 46.72, a P/E/G ratio of 3.36 and a beta of 2.02.

Analyst Ratings Changes

Several research firms have recently weighed in on PNTG. Oppenheimer increased their price objective on 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 issued a $40.00 price objective on shares of The Pennant Group in a report on Wednesday, October 9th. Royal Bank of Canada increased their price objective on The Pennant Group from $26.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Truist Financial increased their price objective on The Pennant Group from $34.00 to $38.00 and gave the company a “hold” rating in a report on Monday, October 7th.

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.