Riverbridge Partners LLC Acquires 24,258 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Riverbridge Partners LLC increased its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTGGet Rating) by 1.7% in the 2nd quarter, Holdings Channel reports. The firm owned 1,483,272 shares of the company’s stock after buying an additional 24,258 shares during the period. Riverbridge Partners LLC owned 0.05% of The Pennant Group worth $19,001,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its position in The Pennant Group by 0.8% during the first quarter. BlackRock Inc. now owns 4,177,138 shares of the company’s stock valued at $77,819,000 after purchasing an additional 34,633 shares during the last quarter. State Street Corp lifted its stake in The Pennant Group by 5.4% during the 1st quarter. State Street Corp now owns 950,775 shares of the company’s stock valued at $17,713,000 after acquiring an additional 48,527 shares during the period. Wellington Management Group LLP increased its holdings in shares of The Pennant Group by 30.0% during the 1st quarter. Wellington Management Group LLP now owns 556,550 shares of the company’s stock valued at $10,369,000 after purchasing an additional 128,548 shares in the last quarter. Invesco Ltd. increased its holdings in The Pennant Group by 10.8% in the 1st quarter. Invesco Ltd. now owns 542,900 shares of the company’s stock worth $10,115,000 after acquiring an additional 52,985 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in The Pennant Group by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 262,481 shares of the company’s stock worth $4,890,000 after acquiring an additional 13,814 shares in the last quarter. 88.56% of the stock is owned by hedge funds and other institutional investors.

The Pennant Group Price Performance

Shares of NASDAQ PNTG opened at $15.45 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a fifty day moving average price of $14.79 and a 200 day moving average price of $15.79. The Pennant Group, Inc. has a 1-year low of $10.07 and a 1-year high of $33.55. The company has a market cap of $456.56 million, a PE ratio of -154.48, a P/E/G ratio of 2.97 and a beta of 2.24.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PNTG shares. Truist Financial boosted their price target on shares of The Pennant Group from $12.00 to $18.00 and gave the company a “hold” rating in a research report on Wednesday, August 10th. Stephens lowered shares of The Pennant Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $23.00 to $17.00 in a research note on Tuesday, June 21st. Oppenheimer began coverage on shares of The Pennant Group in a research note on Thursday, August 25th. They issued an “outperform” rating and a $22.00 price target on the stock. Finally, Stifel Nicolaus decreased their price objective on The Pennant Group from $18.00 to $16.00 and set a “hold” rating for the company in a report on Wednesday, June 22nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, The Pennant Group presently has a consensus rating of “Hold” and an average price target of $19.80.

The Pennant Group Profile

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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.

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Institutional Ownership by Quarter for The Pennant Group (NASDAQ:PNTG)

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