Invesco Ltd. Sells 104,556 Shares of The Pennant Group, Inc. (NASDAQ:PNTG)

Invesco Ltd. cut its stake in The Pennant Group, Inc. (NASDAQ:PNTG) by 70.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,520 shares of the company’s stock after selling 104,556 shares during the period. Invesco Ltd.’s holdings in The Pennant Group were worth $1,181,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. KLP Kapitalforvaltning AS bought a new stake in shares of The Pennant Group in the 4th quarter valued at $188,000. LPL Financial LLC bought a new position in The Pennant Group in the fourth quarter worth approximately $225,000. Arizona State Retirement System raised its position in shares of The Pennant Group by 13.0% during the fourth quarter. Arizona State Retirement System now owns 9,773 shares of the company’s stock worth $259,000 after purchasing an additional 1,121 shares during the period. Integrated Quantitative Investments LLC acquired a new position in shares of The Pennant Group during the fourth quarter valued at about $264,000. Finally, AlphaQuest LLC bought a new position in The Pennant Group during the 4th quarter valued at $291,000. Institutional investors own 85.88% of the company’s stock.

The Pennant Group Trading Down 0.8 %

Shares of The Pennant Group stock opened at $25.42 on Friday. The company’s 50-day moving average price is $24.64 and its 200-day moving average price is $27.70. The company has a market cap of $882.63 million, a price-to-earnings ratio of 37.38, a PEG ratio of 2.24 and a beta of 1.73. The Pennant Group, Inc. has a 12-month low of $20.78 and a 12-month high of $37.13. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.58.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PNTG. Truist Financial decreased their target price on The Pennant Group from $32.00 to $28.00 and set a “hold” rating for the company in a research report on Friday, March 7th. Stephens reissued an “overweight” rating and issued a $38.00 price objective on shares of The Pennant Group in a report on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.80.

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.