American Century Companies Inc. Makes New Investment in The Pennant Group, Inc. $PNTG

American Century Companies Inc. acquired a new position in shares of The Pennant Group, Inc. (NASDAQ:PNTG) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 20,627 shares of the company’s stock, valued at approximately $519,000.

Several other hedge funds also recently made changes to their positions in the company. Persistent Asset Partners Ltd grew its stake in The Pennant Group by 2.6% during the 1st quarter. Persistent Asset Partners Ltd now owns 169,209 shares of the company’s stock worth $4,256,000 after buying an additional 4,217 shares during the last quarter. Nuveen LLC purchased a new position in The Pennant Group during the 1st quarter worth approximately $9,181,000. Invesco Ltd. grew its position in shares of The Pennant Group by 9.9% during the first quarter. Invesco Ltd. now owns 48,945 shares of the company’s stock worth $1,231,000 after acquiring an additional 4,425 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of The Pennant Group during the first quarter worth approximately $285,000. Finally, De Lisle Partners LLP grew its position in shares of The Pennant Group by 6.9% during the first quarter. De Lisle Partners LLP now owns 407,801 shares of the company’s stock worth $10,260,000 after acquiring an additional 26,339 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company’s stock.

Analyst Ratings Changes

PNTG has been the topic of a number of research reports. Wall Street Zen lowered shares of The Pennant Group from a “buy” rating to a “hold” rating in a research report on Friday. Truist Financial lowered 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 research report on Wednesday, July 16th. Wells Fargo & Company lowered their price target on The Pennant Group from $31.00 to $29.00 and set an “equal weight” rating on the stock in a report on Thursday, August 14th. Finally, Stephens reissued an “overweight” rating and set a $40.00 price target on shares of The Pennant Group in a report on Thursday. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, The Pennant Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.40.

The Pennant Group Stock Up 0.9%

The Pennant Group stock opened at $24.29 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.21 and a quick ratio of 1.21. The Pennant Group, Inc. has a 1-year low of $21.18 and a 1-year high of $37.13. The company has a market cap of $839.46 million, a PE ratio of 31.14, a price-to-earnings-growth ratio of 1.98 and a beta of 1.31. The stock’s 50 day moving average price is $24.54 and its 200 day moving average price is $25.73.

The Pennant Group Company Profile

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.