The Pennant Group, Inc. (NASDAQ:PNTG) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP increased its stake in shares of The Pennant Group, Inc. (NASDAQ:PNTG) by 16.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 48,853 shares of the company’s stock after acquiring an additional 6,753 shares during the period. Wellington Management Group LLP’s holdings in The Pennant Group were worth $1,296,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van Berkom & Associates Inc. increased its stake in The Pennant Group by 2,635.6% during the 4th quarter. Van Berkom & Associates Inc. now owns 2,198,216 shares of the company’s stock worth $58,297,000 after buying an additional 2,117,859 shares during the period. Vanguard Group Inc. grew its stake in shares of The Pennant Group by 11.0% during the fourth quarter. Vanguard Group Inc. now owns 2,261,564 shares of the company’s stock valued at $59,977,000 after acquiring an additional 223,919 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of The Pennant Group during the fourth quarter worth about $2,570,000. JPMorgan Chase & Co. lifted its stake in shares of The Pennant Group by 68.4% in the third quarter. JPMorgan Chase & Co. now owns 205,922 shares of the company’s stock worth $7,351,000 after acquiring an additional 83,664 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new position in The Pennant Group in the fourth quarter valued at about $1,114,000. 85.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PNTG has been the topic of a number of recent analyst reports. Truist Financial cut their target price on The Pennant Group from $32.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company initiated 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 objective on the stock. Finally, Stephens reissued an “overweight” rating and issued a $38.00 target price on shares of The Pennant Group in a research report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The Pennant Group presently has an average rating of “Moderate Buy” and an average target price of $34.80.

The Pennant Group Stock Performance

The Pennant Group stock opened at $25.37 on Monday. The company has a market cap of $880.90 million, a PE ratio of 37.31, a P/E/G ratio of 2.24 and a beta of 1.73. The Pennant Group, Inc. has a 12 month low of $19.37 and a 12 month high of $37.13. The company has a fifty day moving average price of $24.85 and a two-hundred day moving average price of $28.40. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 1.12.

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.