Raymond James Financial Inc. Makes New Investment in The Pennant Group, Inc. (NASDAQ:PNTG)

Raymond James Financial Inc. purchased a new position in The Pennant Group, Inc. (NASDAQ:PNTG) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 96,918 shares of the company’s stock, valued at approximately $2,570,000.

A number of other hedge funds also recently bought and sold shares of PNTG. FMR LLC grew its position in The Pennant Group by 51.3% in the 3rd quarter. FMR LLC now owns 2,528,512 shares of the company’s stock worth $90,268,000 after purchasing an additional 856,838 shares during the period. Van Berkom & Associates Inc. grew its holdings in shares of The Pennant Group by 2,635.6% in the fourth quarter. Van Berkom & Associates Inc. now owns 2,198,216 shares of the company’s stock worth $58,297,000 after acquiring an additional 2,117,859 shares during the period. Geode Capital Management LLC increased its position in The Pennant Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 682,132 shares of the company’s stock valued at $24,357,000 after acquiring an additional 2,963 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in The Pennant Group by 17.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 284,391 shares of the company’s stock valued at $7,542,000 after acquiring an additional 41,648 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of The Pennant Group by 68.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company’s stock valued at $7,351,000 after purchasing an additional 83,664 shares during the period. Institutional investors own 85.88% of the company’s stock.

Analyst Upgrades and Downgrades

PNTG has been the topic of a number of research reports. Truist Financial dropped their price objective 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 research note on Thursday, December 19th. They set an “equal weight” rating and a $33.00 price target on the stock. Finally, Stephens restated an “overweight” rating and issued a $38.00 price objective on shares of The Pennant Group in a research note on Tuesday, March 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.80.

The Pennant Group Stock Down 3.2 %

PNTG stock opened at $24.61 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 firm’s fifty day simple moving average is $25.40 and its 200-day simple moving average is $29.24. The Pennant Group, Inc. has a 12 month low of $19.37 and a 12 month high of $37.13. The company has a market capitalization of $847.32 million, a P/E ratio of 36.19, a price-to-earnings-growth ratio of 2.24 and a beta of 2.06.

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.